Range Resources Corporation (RRC) Releases Earnings Results, Beats Estimates By $0.02 EPS
Range Resources Corporation (NYSE:RRC) announced its earnings results on Tuesday. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02, Bloomberg Earnings reports. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%.
Range Resources Corporation (NYSE RRC) traded up 0.76% on Tuesday, hitting $18.59. The stock had a trading volume of 5,313,382 shares. The stock has a 50-day moving average of $19.12 and a 200-day moving average of $21.76. The company has a market cap of $4.54 billion, a PE ratio of 125.61 and a beta of 0.94. Range Resources Corporation has a one year low of $15.99 and a one year high of $39.64.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Thursday, September 14th. Range Resources Corporation’s dividend payout ratio (DPR) is presently 100.01%.
A number of brokerages have recently issued reports on RRC. Robert W. Baird lowered their target price on shares of Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, August 11th. J P Morgan Chase & Co lowered shares of Range Resources Corporation from an “overweight” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research report on Monday. Piper Jaffray Companies set a $35.00 target price on shares of Range Resources Corporation and gave the stock a “buy” rating in a research report on Thursday, October 19th. Scotiabank set a $35.00 target price on shares of Range Resources Corporation and gave the stock a “buy” rating in a research report on Saturday, July 1st. Finally, Barclays PLC restated an “underweight” rating and set a $18.00 target price (down from $20.00) on shares of Range Resources Corporation in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Range Resources Corporation has a consensus rating of “Buy” and an average target price of $33.28.
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In other news, Director Steffen E. Palko acquired 15,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the completion of the acquisition, the director now directly owns 27,267 shares in the company, valued at approximately $458,358.27. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Ralph Lowe acquired 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was purchased at an average price of $17.99 per share, with a total value of $179,900.00. Following the acquisition, the director now owns 25,413 shares of the company’s stock, valued at $457,179.87. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 26,000 shares of company stock valued at $449,800. Insiders own 0.42% of the company’s stock.
Range Resources Corporation Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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