Range Resources Corp. (NYSE:RRC) declared a quarterly dividend on Friday, August 31st, RTT News reports. Investors of record on Friday, September 14th will be paid a dividend of 0.02 per share by the oil and gas exploration company on Friday, September 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.49%.

Range Resources has decreased its dividend payment by an average of 12.6% annually over the last three years. Range Resources has a dividend payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Range Resources to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 8.7%.

NYSE RRC traded down $0.17 during trading hours on Friday, reaching $16.30. 178,184 shares of the company’s stock traded hands, compared to its average volume of 5,351,602. Range Resources has a 52-week low of $11.93 and a 52-week high of $20.65. The stock has a market cap of $4.03 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.52 and a quick ratio of 0.49.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Monday, July 30th. The oil and gas exploration company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. Range Resources had a net margin of 2.46% and a return on equity of 4.00%. The company had revenue of $745.00 million during the quarter, compared to analysts’ expectations of $671.50 million. During the same period last year, the company posted $0.06 EPS. Range Resources’s revenue was up 31.9% on a year-over-year basis. research analysts expect that Range Resources will post 0.9 earnings per share for the current fiscal year.

RRC has been the subject of a number of recent research reports. Morgan Stanley lowered their price target on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Thursday, August 16th. KLR Group reissued a “buy” rating and set a $23.00 price target on shares of Range Resources in a research report on Monday, August 20th. TD Securities lowered their price target on shares of Range Resources from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, July 31st. Stifel Nicolaus initiated coverage on shares of Range Resources in a research report on Wednesday, May 23rd. They set a “buy” rating and a $21.50 price target for the company. Finally, Capital One Financial raised shares of Range Resources from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Range Resources presently has a consensus rating of “Hold” and an average target price of $21.98.

In other news, insider Jeffrey L. Ventura sold 8,767 shares of Range Resources stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $17.54, for a total value of $153,773.18. Following the completion of the sale, the insider now directly owns 390,432 shares in the company, valued at $6,848,177.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David P. Poole sold 3,829 shares of Range Resources stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $17.54, for a total transaction of $67,160.66. Following the completion of the sale, the vice president now owns 37,484 shares of the company’s stock, valued at $657,469.36. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Dividend History for Range Resources (NYSE:RRC)

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