Range Resources Corp. (NYSE:RRC) declared a quarterly dividend on Thursday, March 1st, RTT News reports. Stockholders of record on Friday, March 16th will be paid a dividend of 0.02 per share by the oil and gas exploration company on Friday, March 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, March 15th.
Range Resources has decreased its dividend by an average of 12.6% annually over the last three years. Range Resources has a dividend payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Range Resources to earn $1.20 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 6.7%.
Range Resources (RRC) opened at $15.59 on Wednesday. Range Resources has a 52-week low of $11.93 and a 52-week high of $30.30. The firm has a market capitalization of $3,870.00, a price-to-earnings ratio of -779.50, a PEG ratio of 0.69 and a beta of 0.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.57 and a quick ratio of 0.54.
In other Range Resources news, Director Anthony V. Dub sold 2,897 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $16.06, for a total value of $46,525.82. Following the sale, the director now directly owns 96,000 shares of the company’s stock, valued at approximately $1,541,760. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steffen E. Palko purchased 34,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was acquired at an average cost of $14.72 per share, for a total transaction of $500,480.00. Following the completion of the purchase, the director now owns 61,267 shares in the company, valued at approximately $901,850.24. The disclosure for this purchase can be found here. 0.42% of the stock is currently owned by company insiders.
A number of brokerages have recently weighed in on RRC. Credit Suisse Group began coverage on Range Resources in a research report on Monday, December 11th. They issued an “outperform” rating and a $24.00 price target for the company. B. Riley set a $17.00 price target on Range Resources and gave the company a “hold” rating in a research report on Friday, March 9th. Capital One Financial cut Range Resources from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 25th. SunTrust Banks restated a “hold” rating and issued a $20.00 price target on shares of Range Resources in a research report on Friday, December 8th. Finally, ValuEngine upgraded Range Resources from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.70.
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About Range Resources
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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