Range Resources (NYSE:RRC) Posts Quarterly Earnings Results

Range Resources (NYSE:RRC - Get Free Report) announced its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01, Briefing.com reports. Range Resources had a net margin of 11.02% and a return on equity of 15.10%. The company had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. During the same quarter in the previous year, the business earned $0.46 EPS.

Range Resources Price Performance

Shares of NYSE:RRC opened at $35.70 on Wednesday. The company's fifty day moving average price is $39.60 and its 200-day moving average price is $38.08. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 0.30 and a beta of 0.63. Range Resources has a one year low of $27.29 and a one year high of $43.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Insider Buying and Selling

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total transaction of $168,672.00. Following the completion of the sale, the director owned 13,663 shares of the company's stock, valued at $548,706.08. This represents a 23.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the transaction, the senior vice president owned 13,800 shares of the company's stock, valued at $560,556. This trade represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock worth $2,984,479 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Range Resources by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company's stock worth $18,639,000 after buying an additional 8,816 shares during the last quarter. Empowered Funds LLC raised its position in shares of Range Resources by 2.1% during the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company's stock valued at $3,029,000 after buying an additional 1,563 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Range Resources during the first quarter valued at approximately $285,000. 98.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RRC has been the topic of several analyst reports. Raymond James Financial boosted their price target on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Barclays increased their price target on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and increased their target price for the stock from $41.00 to $42.00 in a research report on Tuesday, April 8th. Bank of America increased their price target on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, UBS Group increased their price target on shares of Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.79.

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.