Range Resources (NYSE:RRC) Issues Earnings Results, Beats Estimates By $0.04 EPS

Range Resources (NYSE:RRC - Get Free Report) posted its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04, Zacks reports. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $690.55 million for the quarter, compared to the consensus estimate of $793.50 million.

Range Resources Price Performance

NYSE RRC traded up $0.97 during trading hours on Friday, hitting $34.83. 2,827,194 shares of the company's stock traded hands, compared to its average volume of 2,452,653. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm's 50-day moving average is $36.72 and its 200-day moving average is $35.75. The company has a market capitalization of $8.41 billion, a PE ratio of 17.59, a PEG ratio of 5.11 and a beta of 1.73. Range Resources has a 52-week low of $27.29 and a 52-week high of $41.95.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. Range Resources's payout ratio is currently 32.73%.

Analyst Ratings Changes

Several equities analysts recently weighed in on RRC shares. The Goldman Sachs Group increased their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Benchmark reissued a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $42.00 price target on shares of Range Resources in a report on Friday, April 11th. JPMorgan Chase & Co. raised Range Resources from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $43.00 to $45.00 in a research report on Thursday, March 13th. Finally, Truist Financial boosted their price objective on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.50.

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.