Range Resources (NYSE:RRC) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Range Resources (NYSE:RRC) released its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21, Briefing.com reports. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The firm had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was down 15.7% on a year-over-year basis.

Range Resources Price Performance

Shares of RRC opened at $37.77 on Thursday. Range Resources has a twelve month low of $23.92 and a twelve month high of $37.89. The firm’s fifty day simple moving average is $33.52 and its 200-day simple moving average is $32.37. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 19.17 and a beta of 1.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. Range Resources’s payout ratio is 16.24%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Piper Sandler increased their price target on shares of Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Susquehanna increased their price target on shares of Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Stephens increased their price objective on shares of Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus target price of $36.40.

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.