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

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

Range Resources Stock Performance

Shares of RRC traded up $0.91 during trading hours on Wednesday, reaching $38.41. 2,427,763 shares of the company’s stock traded hands, compared to its average volume of 2,586,785. The business’s fifty day simple moving average is $37.71 and its two-hundred day simple moving average is $33.83. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 5.11 and a beta of 1.78. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio is presently 16.16%.

Analysts Set New Price Targets

A number of brokerages have commented on RRC. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research report on Tuesday, January 14th. Truist Financial upped their target price on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Mizuho raised their price target on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.83.

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.