Range Resources (NYSE:RRC) Releases Earnings Results, Beats Expectations By $0.16 EPS

Range Resources (NYSE:RRC) posted its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.32 by $0.16, Briefing.com reports. The firm had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. Range Resources’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 EPS.

Range Resources Price Performance

Shares of RRC traded down $0.20 during midday trading on Friday, hitting $31.24. 149,349 shares of the company traded hands, compared to its average volume of 2,358,543. The firm has a 50 day moving average of $30.23 and a 200-day moving average of $33.06. Range Resources has a 52 week low of $27.29 and a 52 week high of $39.33. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 15.96 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the transaction, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RRC. Wells Fargo & Company reduced their price objective on Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday. Susquehanna reduced their price objective on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. The Goldman Sachs Group cut their price target on Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Finally, Wolfe Research started coverage on Range Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.06.

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.