Range Resources Corporation (RRC) Expected to Announce Earnings of $0.02 Per Share
Brokerages predict that Range Resources Corporation (NYSE:RRC) will announce earnings per share (EPS) of $0.02 for the current quarter, Zacks reports. Eight analysts have made estimates for Range Resources Corporation’s earnings, with estimates ranging from ($0.10) to $0.17. Range Resources Corporation reported earnings per share of ($0.06) in the same quarter last year, which suggests a positive year-over-year growth rate of 133.3%. The firm is expected to announce its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Range Resources Corporation will report full year earnings of $0.48 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.73. For the next year, analysts anticipate that the business will post earnings of $0.64 per share, with EPS estimates ranging from ($0.08) to $1.15. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Range Resources Corporation.
Range Resources Corporation (NYSE:RRC) last posted its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.20. The company had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The company’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.35) earnings per share.
A number of equities analysts have weighed in on RRC shares. BidaskClub upgraded shares of Range Resources Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. BMO Capital Markets set a $35.00 price target on shares of Range Resources Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Scotiabank set a $35.00 price target on shares of Range Resources Corporation and gave the company a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded shares of Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, July 17th. Finally, Citigroup Inc. decreased their price target on shares of Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Range Resources Corporation currently has an average rating of “Buy” and a consensus price target of $34.81.
Shares of Range Resources Corporation (NYSE:RRC) opened at 20.21 on Thursday. The company has a market capitalization of $4.93 billion, a P/E ratio of 136.55 and a beta of 0.95. Range Resources Corporation has a 52-week low of $16.00 and a 52-week high of $40.20. The firm has a 50-day moving average of $18.48 and a 200 day moving average of $22.63.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, September 14th. Range Resources Corporation’s payout ratio is currently 100.01%.
In related news, Director Mary Ralph Lowe bought 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $17.99 per share, with a total value of $179,900.00. Following the transaction, the director now owns 25,413 shares of the company’s stock, valued at $457,179.87. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steffen E. Palko bought 15,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $16.81 per share, with a total value of $252,150.00. Following the transaction, the director now directly owns 27,267 shares in the company, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Insiders bought a total of 26,000 shares of company stock valued at $449,800 in the last three months. Insiders own 2.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board increased its position in shares of Range Resources Corporation by 18.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 210,607 shares of the oil and gas exploration company’s stock worth $4,880,000 after purchasing an additional 33,130 shares during the last quarter. Matthew 25 Management Corp increased its position in shares of Range Resources Corporation by 166.7% in the 2nd quarter. Matthew 25 Management Corp now owns 80,000 shares of the oil and gas exploration company’s stock worth $1,854,000 after purchasing an additional 50,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Range Resources Corporation by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,726,118 shares of the oil and gas exploration company’s stock worth $63,163,000 after purchasing an additional 194,141 shares during the last quarter. Rovida Advisors Inc. bought a new stake in shares of Range Resources Corporation in the 2nd quarter worth about $4,634,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Range Resources Corporation in the 1st quarter worth about $440,000. 95.61% of the stock is owned by institutional investors.
Range Resources Corporation Company Profile
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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