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

Range Resources (NYSE:RRC) announced its earnings results 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 return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. During the same period in the prior year, the firm earned $0.63 EPS.

Range Resources Price Performance

Shares of NYSE:RRC traded up $1.44 during midday trading on Wednesday, reaching $38.94. The company’s stock had a trading volume of 2,731,533 shares, compared to its average volume of 2,598,134. 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 has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The company has a market capitalization of $9.40 billion, a P/E ratio of 19.60, a P/E/G ratio of 5.11 and a beta of 1.78. The business’s fifty day simple moving average is $37.71 and its 200-day simple moving average is $33.83.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.82%. Range Resources’s dividend payout ratio is 16.16%.

Analyst Ratings Changes

Several analysts have recently weighed in on RRC shares. Stephens lifted their target price on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler boosted their price objective on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 target price on shares of Range Resources in a research note on Tuesday, January 14th. Mizuho raised their target price on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group raised their target price on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.