Range Resources Corporation (RRC) to Issue Quarterly Dividend of $0.10 on March 27th

Range Resources Corporation (NYSE:RRC) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Friday, March 13th will be paid a dividend of 0.10 per share by the oil and gas exploration company on Friday, March 27th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, March 13th. This is a 11.1% increase from Range Resources’s previous quarterly dividend of $0.09.

Range Resources has a dividend payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Range Resources to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 13.4%.

Range Resources Stock Up 3.0%

Range Resources stock traded up $1.23 during mid-day trading on Wednesday, hitting $41.87. 1,478,654 shares of the company’s stock were exchanged, compared to its average volume of 3,367,634. Range Resources has a 1-year low of $30.32 and a 1-year high of $43.50. The stock has a 50 day moving average of $36.98 and a two-hundred day moving average of $36.77. The stock has a market cap of $9.85 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.38 and a beta of 0.57. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. The business had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. As a group, analysts anticipate that Range Resources will post 2.02 EPS for the current fiscal year.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.