Range Resources Corporation Plans Quarterly Dividend of $0.09 (NYSE:RRC)

Range Resources Corporation (NYSE:RRC) declared a quarterly dividend on Friday, November 28th. Shareholders of record on Friday, December 12th will be paid a dividend of 0.09 per share by the oil and gas exploration company on Friday, December 26th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 12th.

Range Resources has raised its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Range Resources has a dividend payout ratio of 8.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Range Resources to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 12.0%.

Range Resources Stock Up 2.7%

Shares of NYSE:RRC traded up $1.03 during midday trading on Friday, hitting $39.49. 1,547,227 shares of the company’s stock traded hands, compared to its average volume of 2,905,911. Range Resources has a twelve month low of $30.32 and a twelve month high of $43.50. The firm’s fifty day moving average price is $37.41 and its two-hundred day moving average price is $37.36. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.56. The company has a market cap of $9.36 billion, a PE ratio of 16.59, a P/E/G ratio of 0.39 and a beta of 0.49.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $655.30 million for the quarter, compared to analyst estimates of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.Range Resources’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. On average, equities research analysts anticipate that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.