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

by · The Markets Daily

Range Resources (NYSE:RRC – Get Free Report) announced its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16, Briefing.com reports. The company had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS.

Range Resources Price Performance

Shares of RRC stock traded up $1.03 during trading hours on Wednesday, reaching $30.93. The company had a trading volume of 5,924,428 shares, compared to its average volume of 2,362,692. Range Resources has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 15.60 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. The stock has a fifty day moving average of $30.19 and a 200-day moving average of $33.09.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders 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 1.03%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Buying and Selling

In related news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s 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 sale, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on RRC. Royal Bank of Canada restated a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a research report on Thursday, July 25th. Wells Fargo & Company upgraded shares of Range Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $35.00 to $39.00 in a research report on Tuesday, October 1st. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $43.00 to $31.00 in a report on Thursday, August 15th. Wolfe Research initiated coverage on shares of Range Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Benchmark restated a “hold” rating on shares of Range Resources in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.12.

Read Our Latest Analysis on Range Resources

Range Resources Company Profile

(Get Free Report)

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.

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