Range Resources (RRC) Declares $0.08 Dividend
Range Resources said on May 31, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Previously, the company paid $0.08 per share.
Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on June 30, 2023.
At the current share price of $27.37 / share, the stock's dividend yield is 1.17%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.09%, the lowest has been 0.45%, and the highest has been 2.38%. The standard deviation of yields is 0.48 (n=126).
The current dividend yield is 0.17 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.04. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
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What is the Fund Sentiment?
There are 892 funds or institutions reporting positions in Range Resources. This is a decrease of 23 owner(s) or 2.51% in the last quarter. Average portfolio weight of all funds dedicated to RRC is 0.28%, a decrease of 8.61%. Total shares owned by institutions increased in the last three months by 0.35% to 239,473K shares. 
The put/call ratio of RRC is 0.67, indicating a bullish outlook.
Analyst Price Forecast Suggests 19.25% Upside
As of May 11, 2023, the average one-year price target for Range Resources is 32.64. The forecasts range from a low of 20.20 to a high of $52.50. The average price target represents an increase of 19.25% from its latest reported closing price of 27.37.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Range Resources is 3,808MM, a decrease of 40.06%. The projected annual non-GAAP EPS is 5.15.
What are Other Shareholders Doing?
Capital World Investors holds 9,754K shares representing 4.19% ownership of the company. In it's prior filing, the firm reported owning 6,946K shares, representing an increase of 28.79%. The firm increased its portfolio allocation in RRC by 44.05% over the last quarter.
ANCFX - AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 8,693K shares representing 3.73% ownership of the company. In it's prior filing, the firm reported owning 6,000K shares, representing an increase of 30.98%. The firm increased its portfolio allocation in RRC by 46.54% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 7,455K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 7,462K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in RRC by 1.16% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,112K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 6,969K shares, representing an increase of 2.00%. The firm decreased its portfolio allocation in RRC by 0.32% over the last quarter.
Exor Capital LLP holds 6,963K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 6,347K shares, representing an increase of 8.85%. The firm increased its portfolio allocation in RRC by 73.08% over the last quarter.
Range Resources Background Information
(This description is provided by the company.)
Range Resources Corporation is a leading U.S. independent natural gas and NGL producer with operations focused in stacked-pay projects in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas.
Key filings for this company:
This story originally appeared on Fintel.