Range Resources (NYSE:RRC) Releases Earnings Results, Beats Expectations By $0.21 EPS

Range Resources (NYSE:RRC) posted its earnings results on Tuesday. The oil and gas exploration company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21, Briefing.com reports. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same period last year, the firm earned $0.96 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis.

Range Resources Trading Up 1.3 %

Range Resources stock traded up $0.48 during trading on Tuesday, hitting $36.59. The company had a trading volume of 2,935,549 shares, compared to its average volume of 2,544,233. Range Resources has a 1-year low of $23.92 and a 1-year high of $37.88. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The company’s 50 day simple moving average is $33.18 and its 200-day simple moving average is $32.30. The stock has a market cap of $8.86 billion, a price-to-earnings ratio of 10.35 and a beta of 1.83.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.87%. Range Resources’s dividend payout ratio (DPR) is presently 9.04%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RRC. Benchmark cut Range Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Susquehanna raised their target price on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday. Piper Sandler raised their target price on Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James dropped their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Finally, Barclays initiated coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price target on the stock. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Range Resources presently has an average rating of “Hold” and a consensus price target of $36.00.

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.