Range Resources Corporation (NYSE:RRC) to Issue Quarterly Dividend of $0.10

Key Points

• Range Resources declared a quarterly dividend of $0.10 per share, payable September 25 to shareholders of record on September 11. The dividend is equivalent to $0.40 annually and yields approximately 1.0%.
• The dividend appears well covered, with a current payout ratio of 9.7% and an expected future payout ratio of 12.0% based on projected earnings.
• Range Resources recently reported adjusted earnings of $0.79 per share, beating estimates of $0.66, while quarterly revenue of $759.58 million declined 2.7% year over year.

Range Resources Corporation (NYSE:RRC - Get Free Report) announced a quarterly dividend on Friday, August 28th. Investors of record on Friday, September 11th will be given a dividend of 0.10 per share by the oil and gas exploration company on Friday, September 25th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, September 11th.

Range Resources has a payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Range Resources to earn $3.32 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 12.0%.

Range Resources Price Performance

Range Resources stock traded down $0.12 during trading hours on Friday, reaching $41.52. 1,522,605 shares of the stock were exchanged, compared to its average volume of 3,206,666. The company has a market cap of $9.70 billion, a P/E ratio of 11.47 and a beta of 0.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources has a twelve month low of $32.68 and a twelve month high of $48.31. The stock has a 50 day moving average of $38.45 and a two-hundred day moving average of $40.24.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million during the quarter, compared to analysts' expectations of $744.78 million. During the same period in the previous year, the company earned $0.66 EPS. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts expect that Range Resources will post 3.62 EPS for the current fiscal year.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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