Range Resources Corporation (NYSE:RRC) to Issue Quarterly Dividend of $0.09

Key Points

• Range Resources Corporation declared a quarterly dividend of $0.09 per share, with intended payments for stockholders recorded by September 12th to be disbursed on September 26th, reflecting an annualized dividend yield of 1.0%.
• The company's dividend payout ratio stands at 8.7%, indicating earnings sufficiently cover the dividends, while analysts forecast earnings per share to be $2.99 next year, maintaining a future payout ratio of 12.0%.
• Range Resources reported a stronger-than-expected quarterly performance, with earnings per share of $0.66 and revenue of $856.28 million, surpassing consensus estimates significantly.

Range Resources Corporation (NYSE:RRC - Get Free Report) announced a quarterly dividend on Friday, August 29th, RTT News reports. Stockholders of record on Friday, September 12th will be given a dividend of 0.09 per share by the oil and gas exploration company on Friday, September 26th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th.

Range Resources has a payout ratio of 8.7% 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 $0.36 annual dividend with an expected future payout ratio of 12.0%.

Range Resources Trading Down 1.3%

Shares of Range Resources stock traded down $0.46 during trading hours on Wednesday, hitting $34.18. The company's stock had a trading volume of 1,209,440 shares, compared to its average volume of 2,840,456. Range Resources has a 1-year low of $27.55 and a 1-year high of $43.50. The business has a fifty day moving average of $36.21 and a 200 day moving average of $37.20. The company has a market capitalization of $8.14 billion, a PE ratio of 17.18, a P/E/G ratio of 0.29 and a beta of 0.55. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The business had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same period last year, the business earned $0.46 EPS. As a group, equities analysts forecast that Range Resources will post 2.02 EPS for the current year.

Range Resources Company Profile

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.