Range Resources (NYSE:RRC) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Range Resources (NYSE:RRC) announced its quarterly earnings results on Tuesday. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.27, Briefing.com reports. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 19.06%. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share.

Range Resources Trading Down 0.2%

RRC traded down $0.07 during trading on Thursday, reaching $43.18. 144,487 shares of the stock traded hands, compared to its average volume of 3,549,594. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $10.17 billion, a PE ratio of 11.42, a P/E/G ratio of 0.32 and a beta of 0.51. The stock’s 50-day moving average is $42.10 and its 200 day moving average is $38.52. Range Resources has a 12 month low of $32.60 and a 12 month high of $48.31.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. This is an increase from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 13th. Range Resources’s payout ratio is currently 10.58%.

Insider Buying and Selling

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the sale, the director owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Range Resources

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Range Resources during the fourth quarter valued at $319,000. Invesco Ltd. boosted its position in shares of Range Resources by 1.7% during the 4th quarter. Invesco Ltd. now owns 4,255,287 shares of the oil and gas exploration company’s stock worth $150,041,000 after purchasing an additional 71,351 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Range Resources by 34.9% during the 4th quarter. Corient Private Wealth LLC now owns 9,870 shares of the oil and gas exploration company’s stock worth $348,000 after purchasing an additional 2,552 shares in the last quarter. Corecam AG bought a new position in shares of Range Resources during the 4th quarter worth about $4,277,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Range Resources during the 4th quarter worth about $306,000. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

RRC has been the subject of several research analyst reports. Citigroup lowered their price target on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Stephens reduced their price objective on shares of Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday. Royal Bank Of Canada reduced their price objective on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price objective on shares of Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Finally, Zacks Research raised shares of Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.41.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.