Range Resources (NYSE:RRC) Posts Earnings Results, Beats Estimates By $0.16 EPS

Range Resources (NYSE:RRC) posted its earnings results on Tuesday. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16, Briefing.com reports. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same period in the previous year, the company earned $0.43 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis.

Range Resources Trading Up 3.5 %

Shares of NYSE RRC opened at $30.95 on Thursday. The company’s 50 day simple moving average is $30.21 and its 200 day simple moving average is $33.08. The firm has a market capitalization of $7.51 billion, a P/E ratio of 15.70 and a beta of 1.80. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Insider Activity

In related news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on RRC. The Goldman Sachs Group lowered their price target on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Wolfe Research began coverage on Range Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. cut their target price on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a research report on Tuesday, August 20th. Finally, UBS Group reduced their price objective on Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday, September 18th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.12.

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.