Range Resources (NYSE:RRC) Issues Earnings Results, Beats Expectations By $0.06 EPS

Range Resources (NYSE:RRC) issued its earnings results on Tuesday. The oil and gas exploration company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06, Briefing.com reports. The firm had revenue of $842.83 million during the quarter, compared to analysts’ expectations of $795.19 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share.

Range Resources Stock Performance

Shares of Range Resources stock opened at $55.82 on Thursday. The stock has a market cap of $13.04 billion, a PE ratio of 15.42 and a beta of 0.71. The business has a fifty day simple moving average of $41.64 and a 200-day simple moving average of $40.12. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources has a 12 month low of $32.68 and a 12 month high of $56.90.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a $0.10 dividend. The ex-dividend date was Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. Range Resources’s dividend payout ratio is presently 11.05%.

Insider Buying and Selling at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. The trade was a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

RRC has been the subject of a number of recent research reports. Barclays increased their price objective on Range Resources from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $37.00 price objective on shares of Range Resources in a research note on Tuesday, October 20th. Scotiabank initiated coverage on Range Resources in a report on Wednesday, October 14th. They issued a “sector perform” rating and a $42.00 target price on the stock. BMO Capital Markets restated a “market perform” rating on shares of Range Resources in a report on Monday, October 5th. Finally, Susquehanna boosted their target price on Range Resources from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.78.

Range Resources Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids and oil exploration and production company. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania, where the company develops unconventional wells and produces natural gas, condensate and natural gas liquids.

The company’s activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing hydrocarbons.