Brokerages forecast that Range Resources Corp. (NYSE:RRC) will report $0.13 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Range Resources’ earnings. The lowest EPS estimate is ($0.02) and the highest is $0.22. Range Resources reported earnings of $0.23 per share during the same quarter last year, which would suggest a negative year over year growth rate of 43.5%. The firm is expected to issue its next quarterly earnings report after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that Range Resources will report full-year earnings of $0.50 per share for the current financial year, with EPS estimates ranging from $0.34 to $0.58. For the next fiscal year, analysts anticipate that the company will post earnings of $0.79 per share, with EPS estimates ranging from $0.17 to $1.52. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Range Resources.
A number of research analysts have recently commented on the stock. Credit Suisse Group reduced their price target on shares of Range Resources from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. Morgan Stanley reduced their price target on shares of Range Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, October 26th. ValuEngine upgraded shares of Range Resources from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. BMO Capital Markets set a $30.00 price target on shares of Range Resources and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. lowered shares of Range Resources from an “overweight” rating to a “neutral” rating and set a $22.00 price target for the company. in a research report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Range Resources currently has a consensus rating of “Hold” and a consensus price target of $25.59.
In related news, Director Steffen E. Palko bought 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average cost of $14.72 per share, for a total transaction of $500,480.00. Following the completion of the transaction, the director now owns 61,267 shares of the company’s stock, valued at $901,850.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 owns 143,703 shares of the company’s stock, valued at $2,359,603.26. The disclosure for this sale can be found here. Insiders sold 44,574 shares of company stock valued at $729,007 over the last quarter. 2.40% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC lifted its stake in Range Resources by 10.5% in the third quarter. Parametric Portfolio Associates LLC now owns 966,115 shares of the oil and gas exploration company’s stock worth $18,907,000 after purchasing an additional 91,709 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Range Resources in the third quarter worth $2,131,000. Sumitomo Mitsui Asset Management Company LTD lifted its stake in Range Resources by 979.0% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 212,599 shares of the oil and gas exploration company’s stock worth $3,626,000 after purchasing an additional 192,895 shares during the last quarter. Cerebellum GP LLC bought a new stake in Range Resources in the fourth quarter worth $1,683,000. Finally, Ninepoint Partners LP bought a new stake in Range Resources in the third quarter worth $1,155,000. Institutional investors own 95.71% 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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