Range Resources Corporation (NYSE:RRC) to Issue Quarterly Dividend of $0.10

Range Resources Corporation (NYSE:RRC) announced a quarterly dividend on Friday, May 29th. Investors of record on Friday, June 12th will be given a dividend of 0.10 per share by the oil and gas exploration company on Friday, June 26th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 12th.

Range Resources has a payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Range Resources to earn $3.75 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.7%.

Range Resources Stock Performance

NYSE:RRC opened at $38.94 on Friday. The stock’s fifty day moving average is $42.65 and its 200 day moving average is $39.31. Range Resources has a fifty-two week low of $32.60 and a fifty-two week high of $48.31. The firm has a market capitalization of $9.17 billion, a PE ratio of 10.30 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $898.20 million. During the same quarter in the prior year, the firm posted $0.96 EPS. Range Resources’s quarterly revenue was up 49.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Range Resources will post 3.71 earnings per share for the current year.

Insider Activity at Range Resources

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

Hedge Funds Weigh In On Range Resources

Institutional investors have recently made changes to their positions in the company. Boston Partners boosted its position in Range Resources by 59.3% during the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after acquiring an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Range Resources by 517.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after acquiring an additional 2,045,165 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Range Resources in the 3rd quarter worth $66,560,000. UBS Group AG raised its position in shares of Range Resources by 66.3% in the 4th quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock worth $126,532,000 after acquiring an additional 1,430,477 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Range Resources during the first quarter valued at about $64,481,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.