$0.03 EPS Expected for Range Resources Corporation (RRC) This Quarter
Brokerages forecast that Range Resources Corporation (NYSE:RRC) will post $0.03 earnings per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Range Resources Corporation’s earnings. The highest EPS estimate is $0.17 and the lowest is ($0.10). Range Resources Corporation posted earnings of ($0.06) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 150%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, October 24th.
On average, analysts expect that Range Resources Corporation will report full-year earnings of $0.49 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.73. For the next year, analysts forecast that the company will post earnings of $0.65 per share, with EPS estimates ranging from ($0.08) to $1.21. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Range Resources Corporation.
Range Resources Corporation (NYSE:RRC) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.20. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The company had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. During the same period in the prior year, the business posted ($1.35) EPS. The company’s quarterly revenue was up 55.8% on a year-over-year basis.
Several research analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, August 11th. J P Morgan Chase & Co cut shares of Range Resources Corporation from an “overweight” rating to a “neutral” rating and set a $22.00 price target on the stock. in a report on Monday. Piper Jaffray Companies set a $35.00 price target on shares of Range Resources Corporation and gave the stock a “buy” rating in a report on Thursday, October 19th. Scotiabank set a $35.00 price target on shares of Range Resources Corporation and gave the stock a “buy” rating in a report on Saturday, July 1st. Finally, Barclays PLC restated an “underweight” rating and set a $18.00 price target (down from $20.00) on shares of Range Resources Corporation in a report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Range Resources Corporation has an average rating of “Buy” and an average target price of $33.28.
In other news, Director Steffen E. Palko bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $16.81 per share, with a total value of $252,150.00. Following the acquisition, the director now owns 27,267 shares of the company’s stock, valued at approximately $458,358.27. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Ralph Lowe bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average cost of $17.99 per share, for a total transaction of $179,900.00. Following the acquisition, the director now directly owns 25,413 shares in the company, valued at approximately $457,179.87. The disclosure for this purchase can be found here. Insiders have purchased a total of 26,000 shares of company stock worth $449,800 in the last ninety days. 0.42% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its holdings in Range Resources Corporation by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock worth $117,000 after acquiring an additional 64 shares during the period. Louisiana State Employees Retirement System increased its holdings in Range Resources Corporation by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the oil and gas exploration company’s stock worth $271,000 after acquiring an additional 100 shares during the period. Retirement Systems of Alabama increased its holdings in Range Resources Corporation by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 91,236 shares of the oil and gas exploration company’s stock worth $2,114,000 after acquiring an additional 305 shares during the period. M&T Bank Corp increased its holdings in Range Resources Corporation by 1.3% during the 2nd quarter. M&T Bank Corp now owns 27,472 shares of the oil and gas exploration company’s stock worth $639,000 after acquiring an additional 360 shares during the period. Finally, Stephens Inc. AR increased its holdings in Range Resources Corporation by 5.6% during the 2nd quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock worth $179,000 after acquiring an additional 412 shares during the period. 95.20% of the stock is currently owned by institutional investors and hedge funds.
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Range Resources Corporation (NYSE:RRC) opened at 18.45 on Tuesday. The firm has a market capitalization of $4.50 billion, a P/E ratio of 124.66 and a beta of 0.94. The stock’s 50 day moving average is $19.12 and its 200-day moving average is $21.76. Range Resources Corporation has a 1-year low of $15.99 and a 1-year high of $39.64.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Thursday, September 14th. Range Resources Corporation’s dividend payout ratio (DPR) is presently 100.01%.
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.
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