Range Resources Co. (NYSE:RRC) Plans Quarterly Dividend of $0.08

Range Resources Co. (NYSE:RRC) announced a quarterly dividend on Friday, November 29th,RTT News reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.08 per share by the oil and gas exploration company on Friday, December 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%.

Range Resources has a dividend payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Range Resources to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 13.6%.

Range Resources Trading Down 1.9 %

Shares of NYSE:RRC opened at $35.59 on Friday. 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 has a market capitalization of $8.59 billion, a P/E ratio of 17.97 and a beta of 1.80. The business’s 50-day moving average is $31.98 and its 200 day moving average is $32.55. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. Range Resources’s revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. On average, research analysts predict that Range Resources will post 1.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America began coverage on Range Resources in a research report on Monday, October 28th. They issued a “neutral” rating and a $34.00 target price on the stock. Stephens raised their price objective on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target on the stock in a report on Tuesday, August 20th. Mizuho reduced their price objective on Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Finally, Piper Sandler lowered their target price on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Insider Buying and Selling at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares in the company, valued at $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

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.