Research Analysts Offer Predictions for Range Resources Corporation’s Q1 2018 Earnings (RRC)
Range Resources Corporation (NYSE:RRC) – Stock analysts at KeyCorp raised their Q1 2018 earnings per share (EPS) estimates for Range Resources in a report issued on Tuesday. KeyCorp analyst D. Deckelbaum now anticipates that the oil and gas exploration company will post earnings of $0.50 per share for the quarter, up from their prior forecast of $0.36. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Range Resources’ Q2 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.58 EPS, Q1 2019 earnings at $0.40 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.42 EPS and FY2019 earnings at $1.68 EPS.
Several other research firms also recently commented on RRC. Stifel Nicolaus set a $21.00 price objective on Range Resources and gave the company a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research downgraded Range Resources from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Jefferies Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Range Resources in a research note on Tuesday, October 10th. Scotiabank reissued a “buy” rating and set a $30.00 target price on shares of Range Resources in a report on Monday, October 9th. Finally, BMO Capital Markets set a $30.00 target price on shares of Range Resources and gave the company a “buy” rating in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Range Resources presently has an average rating of “Buy” and an average price target of $30.98.
Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The business had revenue of $482.20 million for the quarter, compared to the consensus estimate of $543.16 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Range Resources’s revenue for the quarter was up 16.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.02 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.50%. Range Resources’s payout ratio is currently -38.09%.
In other news, Director Anthony V. Dub sold 2,897 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total value of $46,525.82. Following the transaction, the director now owns 96,000 shares of the company’s stock, valued at $1,541,760. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Roger S. Manny sold 10,757 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $16.42, for a total transaction of $176,629.94. Following the completion of the transaction, the chief financial officer now directly owns 143,703 shares in the company, valued at approximately $2,359,603.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,574 shares of company stock worth $729,007. Insiders own 2.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Range Resources by 26.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock worth $110,000 after purchasing an additional 990 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Range Resources by 1.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock worth $117,000 after purchasing an additional 64 shares during the period. Capstone Investment Advisors Netherlands B.V. increased its holdings in shares of Range Resources by 166.2% in the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,088 shares of the oil and gas exploration company’s stock worth $141,000 after purchasing an additional 3,801 shares during the period. Stephens Inc. AR increased its holdings in shares of Range Resources by 5.6% in the second quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock worth $179,000 after purchasing an additional 412 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in Range Resources by 240.4% in the second quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock valued at $205,000 after acquiring an additional 6,250 shares during the last quarter. 95.72% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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