Range Resources Co. (NYSE:RRC) Declares Quarterly Dividend of $0.09

Range Resources Co. (NYSE:RRC) declared a quarterly dividend on Friday, February 28th, RTT News reports. Investors of record on Friday, March 14th will be paid a dividend of 0.09 per share by the oil and gas exploration company on Friday, March 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, March 14th. This is a 12.5% increase from Range Resources’s previous quarterly dividend of $0.08.

Range Resources has a dividend payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Range Resources to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 12.0%.

Range Resources Trading Up 3.3 %

Shares of RRC opened at $37.67 on Wednesday. The stock has a market cap of $9.09 billion, a PE ratio of 19.02, a PEG ratio of 5.11 and a beta of 1.80. The stock has a 50 day simple moving average of $38.20 and a 200-day simple moving average of $34.28. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period last year, the firm posted $0.63 EPS. On average, sell-side analysts predict that Range Resources will post 2.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RRC. Barclays set a $43.00 price target on Range Resources and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Williams Trading set a $40.00 target price on Range Resources in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. Stephens boosted their target price on shares of Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a research report on Friday, January 17th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus price target of $39.11.

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.