Range Resources Co. (NYSE:RRC) Declares Quarterly Dividend of $0.09

Range Resources Co. (NYSE:RRC) declared a quarterly dividend on Friday, February 28th, RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.09 per share by the oil and gas exploration company on Friday, March 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from Range Resources’s previous quarterly dividend of $0.08.

Range Resources has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Range Resources to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.7%.

Range Resources Stock Up 2.0 %

Range Resources stock opened at $37.11 on Friday. The business has a fifty day moving average of $37.97 and a two-hundred day moving average of $33.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $8.96 billion, a P/E ratio of 18.74, a P/E/G ratio of 5.11 and a beta of 1.77. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, analysts forecast that Range Resources will post 2.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

RRC has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a report on Friday, January 17th. Truist Financial increased their price objective on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $45.00 in a report on Monday, January 13th. Finally, Mizuho upped their target price on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Range Resources presently has an average rating of “Hold” and a consensus price target of $39.00.

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.