Range Resources (NYSE:RRC) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS
by Mitch Edgeman · The Markets DailyRange Resources (NYSE:RRC – Get Free Report) announced its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07, Zacks reports. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.
Range Resources Trading Down 0.2%
Shares of RRC stock traded down $0.09 on Tuesday, hitting $38.49. 3,325,218 shares of the stock traded hands, compared to its average volume of 3,215,523. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources has a twelve month low of $30.32 and a twelve month high of $43.50. The firm’s 50-day moving average price is $35.75 and its two-hundred day moving average price is $36.22. The stock has a market capitalization of $9.12 billion, a PE ratio of 16.17, a PEG ratio of 0.36 and a beta of 0.58.
Range Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Range Resources’s payout ratio is 15.13%.
Institutional Trading of Range Resources
A number of hedge funds and other institutional investors have recently modified their holdings of RRC. Virtu Financial LLC purchased a new stake in Range Resources in the fourth quarter valued at approximately $319,000. Invesco Ltd. lifted its stake in Range Resources by 1.7% in the fourth 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. Corient Private Wealth LLC grew its holdings in 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 acquiring an additional 2,552 shares in the last quarter. Corecam AG purchased a new stake in shares of Range Resources in the 4th quarter valued at approximately $4,277,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Range Resources during the 4th quarter worth $306,000. 98.93% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have weighed in on RRC. Morgan Stanley decreased their price objective on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. UBS Group upped their price target on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $39.00 price objective (down from $44.00) on shares of Range Resources in a report on Monday, December 8th. Wells Fargo & Company set a $43.00 target price on Range Resources and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Finally, Mizuho lifted their price target on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.12.
Get Our Latest Research Report on Range Resources
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.
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