Range Resources Corporation to Issue Quarterly Dividend of $0.10 (NYSE:RRC)

Range Resources Corporation (NYSE:RRC) announced a quarterly dividend on Friday, May 29th. Stockholders of record on Friday, June 12th will be given a dividend of 0.10 per share by the oil and gas exploration company on Friday, June 26th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, June 12th.

Range Resources has a dividend payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Range Resources to earn $3.75 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.7%.

Range Resources Stock Down 1.2%

Shares of NYSE:RRC traded down $0.47 on Friday, hitting $38.94. 3,096,958 shares of the company traded hands, compared to its average volume of 3,344,254. The stock has a 50 day simple moving average of $42.74 and a 200-day simple moving average of $39.31. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.17 billion, a PE ratio of 10.30 and a beta of 0.46. Range Resources has a 52 week low of $32.60 and a 52 week high of $48.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $898.20 million. During the same quarter in the previous year, the business posted $0.96 EPS. Range Resources’s revenue was up 49.8% compared to the same quarter last year. As a group, research analysts expect that Range Resources will post 3.71 earnings per share for the current year.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.