Range Resources Corp. (NYSE:RRC) Plans Quarterly Dividend of $0.02

Range Resources Corp. (NYSE:RRC) declared a quarterly dividend on Wednesday, December 4th, Wall Street Journal reports. Investors of record on Friday, December 13th will be given a dividend of 0.02 per share by the oil and gas exploration company on Monday, December 30th. This represents a $0.08 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, December 12th.

Range Resources stock traded up $0.19 during midday trading on Wednesday, hitting $3.59. 8,418,165 shares of the company’s stock were exchanged, compared to its average volume of 10,043,098. Range Resources has a 52-week low of $3.26 and a 52-week high of $14.31. The stock has a 50-day moving average price of $3.97 and a two-hundred day moving average price of $5.12. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.69 and a current ratio of 0.74. The company has a market cap of $902.63 million, a P/E ratio of 3.18, a PEG ratio of 3.52 and a beta of 0.99.

Range Resources (NYSE:RRC) last posted its earnings results on Wednesday, October 23rd. The oil and gas exploration company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. Range Resources had a positive return on equity of 3.14% and a negative net margin of 50.85%. The business had revenue of $622.45 million during the quarter, compared to analysts’ expectations of $594.94 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s revenue was down 23.3% on a year-over-year basis. As a group, sell-side analysts expect that Range Resources will post 0.24 earnings per share for the current year.

Several equities analysts recently commented on the company. MKM Partners upgraded Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Monday, August 19th. ValuEngine upgraded Range Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Credit Suisse Group cut Range Resources from an “outperform” rating to a “neutral” rating in a report on Friday, October 4th. Citigroup cut their price objective on Range Resources from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Finally, TD Securities cut their price objective on Range Resources from $4.00 to $3.75 and set a “hold” rating for the company in a report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.61.

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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