Range Resources Corporation (RRC) To Go Ex-Dividend on June 12th

Range Resources Corporation (NYSE:RRC) declared a quarterly dividend on Friday, May 29th. Shareholders 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) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, June 12th.

Range Resources has a dividend 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

Range Resources stock opened at $38.94 on Friday. Range Resources has a 12-month low of $32.60 and a 12-month high of $48.31. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $42.65 and its two-hundred day moving average price is $39.31. The stock has a market cap of $9.17 billion, a PE ratio of 10.30 and a beta of 0.46.

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

Analysts Set New Price Targets

A number of analysts have recently commented on RRC shares. Stephens cut their price target on Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Bank of America lifted their price target on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Weiss Ratings raised Range Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Wells Fargo & Company lifted their price target on Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Finally, Citigroup cut their price target on Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.00.

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.