Range Resources Corporation (NYSE:RRC) announced a quarterly dividend on Friday, December 1st, RTT News reports. Shareholders of record on Friday, December 15th will be given a dividend of 0.02 per share by the oil and gas exploration company on Friday, December 29th. This represents a $0.08 dividend on an annualized basis and a yield of 0.43%.

Range Resources has decreased its dividend by an average of 20.6% annually over the last three years. Range Resources has a dividend payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Range Resources to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 13.1%.

Range Resources (NYSE:RRC) traded up $0.48 during trading hours on Friday, reaching $18.50. 6,939,480 shares of the company’s stock were exchanged, compared to its average volume of 5,873,284. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47. The firm has a market capitalization of $4,590.00, a PE ratio of 49.94 and a beta of 0.91. Range Resources has a 1-year low of $15.99 and a 1-year high of $39.64.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The firm had revenue of $482.20 million for the quarter, compared to analyst estimates of $543.16 million. During the same period last year, the firm earned ($0.06) earnings per share. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. research analysts forecast that Range Resources will post 0.48 EPS for the current year.

A number of research analysts have weighed in on RRC shares. Goldman Sachs Group lowered shares of Range Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $35.00 to $20.50 in a research note on Friday, September 8th. Jefferies Group set a $36.00 price objective on shares of Range Resources and gave the company a “buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Range Resources from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, October 20th. Morgan Stanley dropped their price objective on shares of Range Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Range Resources in a research note on Friday, September 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $31.76.

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Range Resources 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.

Dividend History for Range Resources (NYSE:RRC)

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