Range Resources Corp. (NYSE:RRC) declared a quarterly dividend on Friday, August 31st, RTT News reports. Stockholders of record on Friday, September 14th will be paid a dividend of 0.02 per share by the oil and gas exploration company on Friday, September 28th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, September 13th.

Range Resources has decreased its dividend payment by an average of 12.6% per year over the last three years. Range Resources has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Range Resources to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 8.7%.

Shares of NYSE RRC opened at $14.65 on Friday. Range Resources has a twelve month low of $11.93 and a twelve month high of $20.65. The company has a market capitalization of $3.73 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.32 and a beta of 0.59. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.73.

Range Resources (NYSE:RRC) last announced its earnings results on Monday, July 30th. The oil and gas exploration company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. Range Resources had a return on equity of 4.00% and a net margin of 2.46%. The firm had revenue of $745.00 million for the quarter, compared to the consensus estimate of $671.50 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s revenue was up 31.9% compared to the same quarter last year. analysts forecast that Range Resources will post 0.9 EPS for the current fiscal year.

In other Range Resources news, VP David P. Poole sold 3,829 shares of the business’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $17.54, for a total transaction of $67,160.66. Following the sale, the vice president now owns 37,484 shares of the company’s stock, valued at approximately $657,469.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey L. Ventura sold 8,767 shares of the business’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $17.54, for a total transaction of $153,773.18. Following the sale, the insider now directly owns 390,432 shares in the company, valued at approximately $6,848,177.28. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Piper Jaffray Companies restated a “buy” rating and issued a $27.00 target price on shares of Range Resources in a research note on Friday, July 20th. Wolfe Research raised shares of Range Resources from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 27th. KLR Group reaffirmed a “buy” rating and issued a $23.00 price target on shares of Range Resources in a report on Monday, August 20th. TD Securities lowered their price target on shares of Range Resources from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, July 31st. Finally, Capital One Financial raised shares of Range Resources from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.98.

About Range Resources

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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Dividend History for Range Resources (NYSE:RRC)

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