Range Resources (NYSE:RRC) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Range Resources (NYSE:RRC) released its earnings results on Wednesday. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03, Briefing.com reports. Range Resources had a positive return on equity of 3.16% and a negative net margin of 50.85%. The firm had revenue of $622.45 million for the quarter, compared to the consensus estimate of $594.94 million. During the same period in the prior year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was down 23.3% compared to the same quarter last year.

Shares of RRC stock traded up $0.08 during trading hours on Friday, hitting $3.89. The company had a trading volume of 145,447 shares, compared to its average volume of 10,926,990. The firm has a market capitalization of $965.29 million, a price-to-earnings ratio of 3.49, a PEG ratio of 3.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 0.75. Range Resources has a 12 month low of $3.26 and a 12 month high of $18.36. The firm’s fifty day moving average is $4.03 and its 200 day moving average is $6.23.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.08 annualized dividend and a dividend yield of 2.06%. Range Resources’s dividend payout ratio is currently 7.08%.

In other Range Resources news, CFO Mark Scucchi bought 9,483 shares of Range Resources stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $5.27 per share, with a total value of $49,975.41. Following the acquisition, the chief financial officer now directly owns 14,149 shares of the company’s stock, valued at $74,565.23. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret K. Dorman bought 20,500 shares of Range Resources stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average cost of $3.40 per share, for a total transaction of $69,700.00. Following the completion of the acquisition, the director now directly owns 57,233 shares in the company, valued at $194,592.20. The disclosure for this purchase can be found here. Insiders bought a total of 42,938 shares of company stock worth $176,159 over the last three months. 0.35% of the stock is owned by company insiders.

Several equities analysts recently weighed in on RRC shares. LADENBURG THALM/SH SH downgraded Range Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $11.00 to $5.00 in a research report on Monday, August 26th. Jefferies Financial Group lowered Range Resources from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $17.00 to $7.00 in a research note on Monday, July 15th. Susquehanna Bancshares dropped their price objective on Range Resources from $11.00 to $8.50 and set a “positive” rating on the stock in a research note on Monday, July 29th. MKM Partners upgraded Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Monday, August 19th. Finally, ValuEngine upgraded Range Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Range Resources presently has an average rating of “Hold” and an average price target of $10.71.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Earnings History for Range Resources (NYSE:RRC)

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