Range Resources Corp. (RRC) Expected to Post Quarterly Sales of $643.54 Million

Equities research analysts expect Range Resources Corp. (NYSE:RRC) to post sales of $643.54 million for the current quarter, Zacks reports. Six analysts have made estimates for Range Resources’ earnings, with the highest sales estimate coming in at $697.69 million and the lowest estimate coming in at $614.00 million. Range Resources posted sales of $253.52 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 153.8%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Range Resources will report full-year sales of $643.54 million for the current financial year, with estimates ranging from $2.20 billion to $2.60 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.76 billion per share, with estimates ranging from $2.66 billion to $2.87 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Range Resources.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (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 analyst estimates of $543.16 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year.

RRC has been the topic of several research reports. KeyCorp reaffirmed a “hold” rating on shares of Range Resources in a research note on Monday, November 13th. BMO Capital Markets set a $30.00 price target on Range Resources and gave the company a “buy” rating in a research note on Tuesday, October 10th. Jefferies Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Range Resources in a research note on Tuesday, October 10th. Scotiabank set a $27.00 price target on Range Resources and gave the company a “buy” rating in a research note on Saturday, November 25th. Finally, Stifel Nicolaus set a $21.00 price target on Range Resources and gave the company a “buy” rating in a research note on Thursday, October 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $29.61.

Range Resources (RRC) opened at $17.33 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.47 and a current ratio of 0.50. Range Resources has a one year low of $15.33 and a one year high of $36.40. The stock has a market capitalization of $4,300.00, a price-to-earnings ratio of -82.52, a PEG ratio of 1.31 and a beta of 0.91.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Thursday, December 14th. Range Resources’s payout ratio is -38.10%.

In other news, VP David P. Poole sold 30,920 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $16.36, for a total transaction of $505,851.20. Following the sale, the vice president now owns 17,647 shares of the company’s stock, valued at $288,704.92. 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 firm’s stock in a transaction dated 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 approximately $2,359,603.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,574 shares of company stock worth $729,007. 0.42% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Ameritas Investment Partners Inc. grew its holdings in shares of Range Resources by 1.3% during 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 buying an additional 64 shares in the last quarter. MHI Funds LLC bought a new position in shares of Range Resources during the fourth quarter worth about $122,000. Jolley Asset Management LLC bought a new position in shares of Range Resources during the fourth quarter worth about $125,000. Capstone Investment Advisors Netherlands B.V. grew its holdings in shares of Range Resources by 166.2% during 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 buying an additional 3,801 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of Range Resources by 240.4% during the second quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock worth $205,000 after buying an additional 6,250 shares in the last quarter. 95.28% of the stock is currently owned by 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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