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

Range Resources (NYSE:RRC - Get Free Report) issued its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04, Zacks reports. Range Resources had a net margin of 17.63% and a return on equity of 13.69%.

Range Resources Price Performance

NYSE:RRC traded up $0.56 during trading hours on Tuesday, hitting $33.18. The company's stock had a trading volume of 4,466,051 shares, compared to its average volume of 2,986,985. The company has a market capitalization of $8.01 billion, a P/E ratio of 16.76, a PEG ratio of 5.11 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The stock has a fifty day simple moving average of $37.11 and a 200-day simple moving average of $35.71.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio (DPR) is currently 32.73%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com cut shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, April 15th. Benchmark restated a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Stephens set a $51.00 price target on shares of Range Resources and gave the company an "overweight" rating in a research report on Thursday, April 3rd. UBS Group lowered their target price on shares of Range Resources from $37.00 to $36.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Truist Financial lifted their price target on shares of Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $41.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.