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

Key Points

• Range Resources declared a quarterly dividend of $0.10 per share (annualized $0.40), an 11.1% increase from the prior $0.09, with record/ex-dividend on March 13 and payment on March 27, implying a yield of about 1.0%.
• The dividend appears sustainable—the company has a current payout ratio of 9.7% and analysts project $2.99 EPS next year, implying an expected payout ratio near 13.4%.
• Quarterly results beat expectations: Range reported $0.82 EPS vs. $0.69 consensus and revenue of $786.9M (up 30.9% year-over-year); the stock trades around $41.75 with a P/E of ~15.3 and market cap of about $9.8B.

Range Resources Corporation (NYSE:RRC - Get Free Report) declared a quarterly dividend on Tuesday, February 24th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.10 per share by the oil and gas exploration company on Friday, March 27th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 13th. This is a 11.1% increase from Range Resources's previous quarterly dividend of $0.09.

Range Resources has a dividend payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Range Resources to earn $2.99 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 13.4%.

Range Resources Price Performance

NYSE:RRC traded up $1.11 during mid-day trading on Wednesday, reaching $41.75. The stock had a trading volume of 882,442 shares, compared to its average volume of 3,354,324. The stock has a market capitalization of $9.83 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.38 and a beta of 0.57. The firm has a 50 day moving average price of $36.98 and a two-hundred day moving average price of $36.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. Range Resources has a one year low of $30.32 and a one year high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The firm had revenue of $786.89 million for the quarter, compared to the consensus estimate of $770.92 million. During the same period last year, the firm posted $0.68 earnings per share. The business's revenue was up 30.9% compared to the same quarter last year. As a group, analysts expect that Range Resources will post 2.02 earnings per share for the current 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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