SunTrust Banks Comments on Range Resources Corp.’s FY2017 Earnings (RRC)

Range Resources Corp. (NYSE:RRC) – Investment analysts at SunTrust Banks issued their FY2017 earnings per share (EPS) estimates for shares of Range Resources in a note issued to investors on Wednesday. SunTrust Banks analyst W. Fitzpatrick expects that the oil and gas exploration company will post earnings of $0.27 per share for the year. SunTrust Banks has a “Hold” rating and a $20.00 price target on the stock. SunTrust Banks also issued estimates for Range Resources’ Q4 2017 earnings at ($0.02) EPS, Q1 2018 earnings at $0.08 EPS, Q2 2018 earnings at ($0.02) EPS, Q3 2018 earnings at $0.00 EPS, Q4 2018 earnings at $0.11 EPS and FY2018 earnings at $0.17 EPS.

Several other research analysts have also issued reports on the stock. Barclays restated a “buy” rating and issued a $19.00 price target on shares of Range Resources in a research report on Sunday, December 24th. Bank of America lowered shares of Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, January 4th. Credit Suisse Group initiated coverage on shares of Range Resources in a research report on Monday, December 11th. They issued an “outperform” rating and a $24.00 price target on the stock. Zacks Investment Research upgraded shares of Range Resources from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Friday, October 20th. Finally, Morgan Stanley lowered their price objective on shares of Range Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Range Resources has a consensus rating of “Buy” and a consensus target price of $27.61.

Range Resources (NYSE RRC) opened at $15.30 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47. The stock has a market cap of $3,800.00, a P/E ratio of -72.86, a price-to-earnings-growth ratio of 1.05 and a beta of 0.91. Range Resources has a 12-month low of $15.10 and a 12-month high of $36.40.

Several institutional investors have recently bought and sold shares of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Range Resources during the 4th quarter valued at $192,000. Assenagon Asset Management S.A. purchased a new position in shares of Range Resources during the 4th quarter valued at $3,005,000. Jennison Associates LLC grew its holdings in shares of Range Resources by 19.6% during the 4th quarter. Jennison Associates LLC now owns 1,080,747 shares of the oil and gas exploration company’s stock valued at $18,438,000 after acquiring an additional 176,854 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Range Resources by 979.0% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 212,599 shares of the oil and gas exploration company’s stock valued at $3,626,000 after acquiring an additional 192,895 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Range Resources by 482.5% during the 4th quarter. SG Americas Securities LLC now owns 82,537 shares of the oil and gas exploration company’s stock valued at $1,408,000 after acquiring an additional 68,367 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

In other news, Director Anthony V. Dub sold 2,897 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total transaction of $46,525.82. Following the transaction, the director now directly owns 96,000 shares in the company, valued at approximately $1,541,760. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Roger S. Manny sold 10,757 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $16.42, for a total transaction of $176,629.94. Following the transaction, the chief financial officer now owns 143,703 shares in the company, valued at $2,359,603.26. 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. 2.40% of the stock is currently owned by corporate insiders.

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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.

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

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