Range Resources (NYSE:RRC) Posts Earnings Results

Range Resources (NYSE:RRC) announced its earnings results on Tuesday. The oil and gas exploration company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.23, Zacks reports. Range Resources had a net margin of 21.12% and a return on equity of 16.31%.

Range Resources Price Performance

NYSE:RRC traded up $0.60 during mid-day trading on Tuesday, reaching $41.74. The stock had a trading volume of 3,953,147 shares, compared to its average volume of 3,505,887. The stock has a 50-day simple moving average of $41.85 and a two-hundred day simple moving average of $38.46. The stock has a market capitalization of $9.83 billion, a PE ratio of 15.23, a P/E/G ratio of 0.33 and a beta of 0.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. 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 disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. This is a positive change 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 14.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RRC shares. Stephens decreased their target price on shares of Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday. Barclays increased their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Bank of America increased their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Morgan Stanley decreased their price objective on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $43.41.

Insider Transactions at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the transaction, the director directly owned 28,668 shares of the company’s stock, valued at $1,272,859.20. This trade represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Range Resources by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after buying an additional 326,748 shares in the last quarter. Boston Partners increased its holdings in shares of Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after buying an additional 4,398,042 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Range Resources by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,965,029 shares of the oil and gas exploration company’s stock worth $316,123,000 after acquiring an additional 673,827 shares during the last quarter. Kopernik Global Investors LLC grew its position in Range Resources by 18.5% during the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock worth $184,724,000 after acquiring an additional 818,295 shares during the last quarter. Finally, Invesco Ltd. grew its position in 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 acquiring an additional 71,351 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Company Profile

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.