Range Resources Corp. (NYSE:RRC) announced a quarterly dividend on Thursday, March 1st, RTT News reports. Investors of record on Friday, March 16th will be given a dividend of 0.02 per share by the oil and gas exploration company on Friday, March 30th. This represents a $0.08 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, March 15th.
Range Resources has decreased its dividend by an average of 12.6% per year over the last three years. Range Resources has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Range Resources to earn $1.13 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 7.1%.
Shares of NYSE RRC traded up $0.74 during mid-day trading on Thursday, hitting $14.52. 9,321,499 shares of the stock traded hands, compared to its average volume of 9,229,517. The company has a quick ratio of 0.54, a current ratio of 0.57 and a debt-to-equity ratio of 0.71. Range Resources has a 52 week low of $11.93 and a 52 week high of $30.00. The firm has a market capitalization of $3,467.12, a PE ratio of 25.03, a P/E/G ratio of 0.61 and a beta of 0.55.
Several research firms have commented on RRC. Seaport Global Securities downgraded Range Resources from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine cut Range Resources from a “hold” rating to a “sell” rating in a research note on Monday. Sanford C. Bernstein cut Range Resources from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a research report on Monday, March 26th. Jefferies Group set a $24.00 price objective on Range Resources and gave the company a “buy” rating in a research report on Monday, March 19th. Finally, Piper Jaffray set a $28.00 price objective on Range Resources and gave the company a “buy” rating in a research report on Wednesday, March 14th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $23.04.
In other Range Resources news, Director Steffen E. Palko acquired 34,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was purchased at an average price of $14.72 per share, with a total value of $500,480.00. Following the completion of the purchase, the director now directly owns 61,267 shares in the company, valued at approximately $901,850.24. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Range Resources Corp. Declares Quarterly Dividend of $0.02 (NYSE:RRC)” was first posted by BBNS and is the sole property of of BBNS. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://baseballnewssource.com/2018/04/05/range-resources-corp-rrc-to-issue-quarterly-dividend-of-0-02/2028130.html.
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.
Receive News & Ratings for Range Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources and related companies with MarketBeat.com's FREE daily email newsletter.