Range Resources (NYSE:RRC) Releases Earnings Results, Beats Expectations By $0.23 EPS

Range Resources (NYSE:RRC) issued its earnings results on Tuesday. The oil and gas exploration company reported $1.48 earnings per share (EPS) for the quarter, beating 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 Stock Performance

RRC traded up $0.60 on Tuesday, reaching $41.74. The company had a trading volume of 3,953,147 shares, compared to its average volume of 3,505,887. Range Resources has a fifty-two week low of $32.60 and a fifty-two week high of $48.31. The stock has a market cap of $9.83 billion, a P/E ratio of 15.23, a P/E/G ratio of 0.33 and a beta of 0.51. The company’s fifty day moving average is $41.85 and its 200 day moving average is $38.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $0.10 dividend. This is an increase from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is currently 14.60%.

Wall Street Analyst Weigh In

RRC has been the topic of a number of research analyst reports. Stephens dropped their target price on shares of Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup dropped their target price on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Royal Bank Of Canada dropped their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Piper Sandler upped their target price on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Finally, Bank of America upped their target price on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday. Four research 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. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $43.41.

Insider Buying and Selling

In related news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction dated 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 owned 28,668 shares in the company, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in shares of Range Resources during the 4th quarter worth approximately $34,000. Parkside Financial Bank & Trust grew its position in shares of Range Resources by 50.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,413 shares of the oil and gas exploration company’s stock worth $85,000 after purchasing an additional 807 shares in the last quarter. UMB Bank n.a. grew its position in shares of Range Resources by 13.0% during the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after purchasing an additional 279 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Range Resources by 63.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock worth $119,000 after purchasing an additional 1,139 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in shares of Range Resources during the 3rd quarter worth approximately $231,000. Institutional investors and hedge funds 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.