Range Resources (NYSE:RRC) Releases Earnings Results, Beats Estimates By $0.07 EPS

Range Resources (NYSE:RRC) posted its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07, Zacks reports. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.

Range Resources Trading Down 0.2%

Shares of Range Resources stock traded down $0.09 during trading on Tuesday, hitting $38.49. The company’s stock had a trading volume of 3,325,218 shares, compared to its average volume of 3,215,523. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.36 and a beta of 0.58. Range Resources has a 52 week low of $30.32 and a 52 week high of $43.50. The stock has a 50-day moving average price of $35.75 and a two-hundred day moving average price of $36.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, December 12th. Range Resources’s payout ratio is 15.13%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. TD Cowen upgraded shares of Range Resources to a “hold” rating in a research note on Monday, February 9th. UBS Group increased their price objective on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Mizuho raised their target price on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $39.00 target price (down from $44.00) on shares of Range Resources in a research note on Monday, December 8th. Finally, Wells Fargo & Company set a $43.00 price target on Range Resources and gave the company an “equal weight” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.12.

Institutional Investors Weigh In On Range Resources

A number of institutional investors have recently made changes to their positions in RRC. Price T Rowe Associates Inc. MD raised its position in shares of Range Resources by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after acquiring an additional 326,748 shares during the last quarter. Boston Partners increased its position in Range Resources by 59.3% during the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after purchasing an additional 4,398,042 shares during the period. Dimensional Fund Advisors LP increased its position in Range Resources by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,965,029 shares of the oil and gas exploration company’s stock valued at $316,123,000 after purchasing an additional 673,827 shares during the period. Kopernik Global Investors LLC raised its holdings in Range Resources by 18.5% during the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock worth $184,724,000 after purchasing an additional 818,295 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Range Resources by 1.7% in the 4th quarter. Invesco Ltd. now owns 4,255,287 shares of the oil and gas exploration company’s stock worth $150,041,000 after purchasing an additional 71,351 shares during the period. Institutional investors own 98.93% of the company’s stock.

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.