Range Resources (NYSE:RRC) Releases Earnings Results, Beats Expectations By $0.01 EPS

Range Resources (NYSE:RRC - Get Free Report) posted its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01, Briefing.com reports. Range Resources had a net margin of 17.22% and a return on equity of 16.17%. The company had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same period in the prior year, the company earned $0.46 earnings per share.

Range Resources Price Performance

Shares of NYSE RRC traded up $0.50 on Thursday, hitting $36.22. The company's stock had a trading volume of 1,354,325 shares, compared to its average volume of 2,940,774. Range Resources has a 12-month low of $27.29 and a 12-month high of $43.50. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 0.30 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50 day moving average of $39.43 and a 200-day moving average of $38.06.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Scotiabank set a $46.00 price target on shares of Range Resources and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Roth Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. UBS Group increased their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Finally, Mizuho raised their price target on shares of Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $43.11.

Insiders Place Their Bets

In related news, Director James M. Funk sold 13,582 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the transaction, the director owned 54,394 shares of the company's stock, valued at approximately $1,905,421.82. This represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 12,880 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the sale, the vice president owned 1,723 shares of the company's stock, valued at approximately $67,197. This represents a 88.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RRC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Range Resources by 1.9% during the 1st 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 valued at $18,639,000 after acquiring an additional 8,816 shares during the last quarter. Empowered Funds LLC boosted its stake in Range Resources by 2.1% during the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company's stock valued at $3,029,000 after acquiring an additional 1,563 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in Range Resources during the 1st quarter valued at $285,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.