KeyCorp Comments on Range Resources Corporation’s FY2017 Earnings (RRC)
Range Resources Corporation (NYSE:RRC) – Equities research analysts at KeyCorp upped their FY2017 earnings per share estimates for shares of Range Resources Corporation in a research report issued on Wednesday. KeyCorp analyst D. Deckelbaum now anticipates that the oil and gas exploration company will post earnings per share of $0.51 for the year, up from their prior estimate of $0.50. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Range Resources Corporation’s Q1 2018 earnings at $0.32 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.38 EPS and FY2018 earnings at $1.21 EPS.
Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.20. The firm had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. Range Resources Corporation’s revenue for the quarter was up 55.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.35) earnings per share. TRADEMARK VIOLATION WARNING: This piece was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/23/keycorp-comments-on-range-resources-corporations-fy2017-earnings-rrc.html.
Several other equities research analysts also recently issued reports on RRC. Robert W. Baird lowered their price target on Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, August 11th. Piper Jaffray Companies set a $35.00 price target on Range Resources Corporation and gave the company a “buy” rating in a research report on Thursday. Scotiabank set a $35.00 price target on Range Resources Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Barclays PLC reaffirmed an “underweight” rating and issued a $18.00 price target (down from $20.00) on shares of Range Resources Corporation in a research report on Wednesday, August 9th. Finally, Citigroup Inc. lowered their price target on Range Resources Corporation from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Range Resources Corporation presently has a consensus rating of “Buy” and an average price target of $33.80.
Range Resources Corporation (NYSE:RRC) opened at 18.86 on Monday. The company has a 50-day moving average price of $19.10 and a 200-day moving average price of $21.95. The stock has a market cap of $4.60 billion, a P/E ratio of 127.43 and a beta of 0.95. Range Resources Corporation has a one year low of $15.99 and a one year high of $39.64.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Thursday, September 14th. Range Resources Corporation’s dividend payout ratio (DPR) is presently 100.01%.
In related news, Director Mary Ralph Lowe acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the transaction, the director now directly owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steffen E. Palko acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price 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 $458,358.27. The disclosure for this purchase can be found here. Insiders purchased a total of 26,000 shares of company stock valued at $449,800 in the last 90 days. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Edge Wealth Management LLC raised its position in Range Resources Corporation by 42.5% in the 3rd quarter. Edge Wealth Management LLC now owns 34,058 shares of the oil and gas exploration company’s stock worth $667,000 after purchasing an additional 10,163 shares during the last quarter. LS Investment Advisors LLC grew its holdings in Range Resources Corporation by 26.9% during the 3rd quarter. LS Investment Advisors LLC now owns 16,149 shares of the oil and gas exploration company’s stock worth $316,000 after acquiring an additional 3,424 shares during the period. State Treasurer State of Michigan grew its holdings in Range Resources Corporation by 10.8% during the 3rd quarter. State Treasurer State of Michigan now owns 68,507 shares of the oil and gas exploration company’s stock worth $1,341,000 after acquiring an additional 6,700 shares during the period. Sanders Capital LLC grew its holdings in Range Resources Corporation by 4.5% during the 3rd quarter. Sanders Capital LLC now owns 15,485,365 shares of the oil and gas exploration company’s stock worth $332,679,000 after acquiring an additional 673,214 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Range Resources Corporation during the 3rd quarter worth $771,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.
About Range Resources Corporation
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 Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources Corporation and related companies with MarketBeat.com's FREE daily email newsletter.