Analysts expect that Range Resources Corp. (NYSE:RRC) will report $724.39 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Range Resources’ earnings, with the highest sales estimate coming in at $787.28 million and the lowest estimate coming in at $647.00 million. Range Resources posted sales of $482.23 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 50.2%. The firm is expected to announce its next earnings report after the market closes on Tuesday, October 23rd.
According to Zacks, analysts expect that Range Resources will report full year sales of $2.90 billion for the current fiscal year, with estimates ranging from $2.60 billion to $3.14 billion. For the next fiscal year, analysts expect that the business will post sales of $3.28 billion, with estimates ranging from $2.95 billion to $3.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Range Resources.
Range Resources (NYSE:RRC) last posted its quarterly earnings data on Monday, July 30th. The oil and gas exploration company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.09. The business had revenue of $745.00 million during the quarter, compared to the consensus estimate of $671.50 million. Range Resources had a return on equity of 4.00% and a net margin of 2.46%. Range Resources’s quarterly revenue was up 31.9% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share.
RRC has been the subject of a number of research reports. Wolfe Research upgraded Range Resources from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 27th. TD Securities initiated coverage on Range Resources in a report on Thursday, July 5th. They set a “hold” rating and a $18.00 price objective for the company. Piper Jaffray Companies reiterated a “buy” rating and set a $27.00 price objective on shares of Range Resources in a report on Friday, July 20th. Capital One Financial upgraded Range Resources from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st. Finally, Morgan Stanley decreased their price objective on Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, August 16th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.
Hedge funds have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd lifted its position in shares of Range Resources by 54.6% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock valued at $97,541,000 after buying an additional 2,058,057 shares during the last quarter. Soros Fund Management LLC acquired a new stake in shares of Range Resources in the second quarter valued at approximately $2,928,000. PNC Financial Services Group Inc. lifted its position in shares of Range Resources by 11.7% in the second quarter. PNC Financial Services Group Inc. now owns 76,671 shares of the oil and gas exploration company’s stock valued at $1,282,000 after buying an additional 8,054 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Range Resources by 84.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 64,980 shares of the oil and gas exploration company’s stock valued at $1,087,000 after buying an additional 29,676 shares during the last quarter. Finally, Putnam Investments LLC acquired a new stake in shares of Range Resources in the second quarter valued at approximately $776,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.
Shares of NYSE:RRC traded up $0.16 during mid-day trading on Monday, reaching $16.76. 6,629,631 shares of the stock were exchanged, compared to its average volume of 7,550,091. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.49 and a current ratio of 0.52. The company has a market cap of $4.24 billion, a PE ratio of 28.90, a PEG ratio of 1.38 and a beta of 0.57. Range Resources has a one year low of $11.93 and a one year high of $20.07.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.48%. Range Resources’s dividend payout ratio is 13.79%.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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