Range Resources (NYSE:RRC – Get Free Report) posted its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16, Briefing.com reports. The business had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share.
Range Resources Trading Up 3.4 %
RRC stock traded up $1.03 during midday trading on Wednesday, reaching $30.93. The company’s stock had a trading volume of 5,924,428 shares, compared to its average volume of 2,362,692. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 15.60 and a beta of 1.80. The stock has a fifty day simple moving average of $30.19 and a two-hundred day simple moving average of $33.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58.
Range Resources Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is currently 16.24%.
Analyst Ratings Changes
Get Our Latest Stock Analysis on RRC
Insider Activity
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 value of $399,415.00. Following the transaction, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.57% of the company’s stock.
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.
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