Range Resources (NYSE:RRC) Issues Earnings Results, Beats Estimates By $0.13 EPS

Range Resources (NYSE:RRC) released its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13, RTT News reports. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share.

Range Resources Trading Up 3.8 %

Shares of NYSE RRC traded up $1.44 during midday trading on Wednesday, reaching $38.94. 2,731,533 shares of the stock were exchanged, compared to its average volume of 2,598,134. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The stock has a market capitalization of $9.40 billion, a P/E ratio of 19.60, a PEG ratio of 5.11 and a beta of 1.78. The company has a 50 day simple moving average of $37.71 and a 200 day simple moving average of $33.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stephens lifted their price objective on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group increased their price target on shares of Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Truist Financial increased their price objective on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.83.

Range Resources Company Profile

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.