Range Resources (NYSE:RRC) Announces Quarterly Earnings Results

Range Resources (NYSE:RRC) announced its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.48 by $0.21, Briefing.com reports. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The firm had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period last year, the firm earned $0.96 EPS. The business’s quarterly revenue was down 15.7% compared to the same quarter last year.

Range Resources Price Performance

Shares of NYSE RRC opened at $36.59 on Wednesday. Range Resources has a 1 year low of $23.92 and a 1 year high of $37.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50-day moving average is $33.34 and its 200 day moving average is $32.33. The stock has a market capitalization of $8.86 billion, a P/E ratio of 10.33 and a beta of 1.83.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s payout ratio is 9.04%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial cut their price target on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, April 5th. Raymond James dropped their price objective on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Range Resources in a report on Tuesday, April 9th. Susquehanna lifted their price objective on shares of Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Piper Sandler lifted their price objective on shares of Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average target price of $36.00.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.