$0.13 Earnings Per Share Expected for Range Resources Corp. (RRC) This Quarter

Wall Street brokerages expect that Range Resources Corp. (NYSE:RRC) will post earnings per share of $0.13 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Range Resources’ earnings. The highest EPS estimate is $0.31 and the lowest is ($0.08). Range Resources reported earnings per share of $0.23 in the same quarter last year, which suggests a negative year over year growth rate of 43.5%. The business is expected to issue its next quarterly earnings results on Wednesday, February 28th.

On average, analysts expect that Range Resources will report full-year earnings of $0.50 per share for the current year, with EPS estimates ranging from $0.28 to $0.67. For the next year, analysts forecast that the company will report earnings of $0.65 per share, with EPS estimates ranging from ($0.18) to $1.58. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Range Resources.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $482.20 million during the quarter, compared to analyst estimates of $543.16 million. During the same period in the previous year, the company earned ($0.06) EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis.

A number of brokerages have recently commented on RRC. Morgan Stanley cut their price target on Range Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. Scotiabank reiterated a “buy” rating and set a $30.00 price target on shares of Range Resources in a report on Monday, October 9th. BMO Capital Markets set a $30.00 price target on Range Resources and gave the stock a “buy” rating in a report on Tuesday, November 14th. JPMorgan Chase & Co. lowered Range Resources from an “overweight” rating to a “neutral” rating and set a $22.00 price target for the company. in a report on Monday, October 23rd. Finally, SunTrust Banks reiterated a “hold” rating and set a $20.00 price target on shares of Range Resources in a report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Range Resources presently has an average rating of “Buy” and an average target price of $29.61.

Shares of Range Resources (NYSE RRC) traded down $0.39 during mid-day trading on Monday, hitting $16.08. The stock had a trading volume of 11,213,100 shares, compared to its average volume of 8,268,800. Range Resources has a one year low of $15.33 and a one year high of $36.40. The firm has a market capitalization of $4,070.00, a price-to-earnings ratio of -76.57, a PEG ratio of 1.31 and a beta of 0.91. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.72.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Thursday, December 14th. Range Resources’s dividend payout ratio is presently -38.10%.

In other Range Resources news, 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 value of $176,629.94. Following the sale, the chief financial officer now directly owns 143,703 shares in the company, valued at $2,359,603.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David P. Poole sold 30,920 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total value of $505,851.20. Following the completion of the sale, the vice president now owns 17,647 shares in the company, valued at $288,704.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,574 shares of company stock worth $729,007. 0.42% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. S&CO Inc. grew its holdings in shares of Range Resources by 16.8% during the fourth quarter. S&CO Inc. now owns 295,379 shares of the oil and gas exploration company’s stock worth $5,039,000 after purchasing an additional 42,523 shares during the last quarter. Ingalls & Snyder LLC grew its holdings in shares of Range Resources by 221.2% during the fourth quarter. Ingalls & Snyder LLC now owns 507,144 shares of the oil and gas exploration company’s stock worth $8,652,000 after purchasing an additional 349,250 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Range Resources by 48.9% during the fourth quarter. State of Alaska Department of Revenue now owns 54,042 shares of the oil and gas exploration company’s stock worth $921,000 after purchasing an additional 17,752 shares during the last quarter. Jolley Asset Management LLC bought a new stake in shares of Range Resources during the fourth quarter worth $125,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Range Resources by 7.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,379,118 shares of the oil and gas exploration company’s stock worth $23,528,000 after purchasing an additional 90,580 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

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Range Resources 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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Earnings History and Estimates for Range Resources (NYSE:RRC)

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