Range Resources Corporation to Issue Quarterly Dividend of $0.09 (NYSE:RRC)

Range Resources Corporation (NYSE:RRC) announced a quarterly dividend on Friday, November 28th. Shareholders of record on Friday, December 12th will be paid a dividend of 0.09 per share by the oil and gas exploration company on Friday, December 26th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 12th.

Range Resources has raised its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Range Resources has a dividend payout ratio of 8.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 2.7%

NYSE RRC traded up $1.03 during midday trading on Friday, hitting $39.49. 1,547,227 shares of the company traded hands, compared to its average volume of 2,905,911. The company’s 50-day simple moving average is $37.41 and its 200-day simple moving average is $37.36. Range Resources has a 52 week low of $30.32 and a 52 week high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.55. The company has a market cap of $9.36 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 0.39 and a beta of 0.49.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The firm had revenue of $655.30 million during the quarter, compared to analysts’ expectations of $721.22 million. During the same quarter last year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities research analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

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.