Range Resources Corporation (NYSE:RRC) – Research analysts at Seaport Global Securities decreased their Q4 2017 earnings estimates for shares of Range Resources in a research note issued on Tuesday, according to Zacks Investment Research. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas exploration company will post earnings per share of $0.08 for the quarter, down from their prior forecast of $0.13. Seaport Global Securities also issued estimates for Range Resources’ Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.08 EPS, Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.21 EPS and FY2018 earnings at $0.65 EPS.
A number of other equities analysts have also issued reports on RRC. Bank of America lowered shares of Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, January 4th. Scotiabank reissued a “buy” rating and set a $30.00 price target on shares of Range Resources in a research report on Monday, October 9th. Piper Jaffray Companies reduced their price target on shares of Range Resources from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Stifel Nicolaus set a $21.00 price target on shares of Range Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Vetr raised shares of Range Resources from a “buy” rating to a “strong-buy” rating and set a $22.02 price target for the company in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Range Resources presently has a consensus rating of “Buy” and an average target price of $30.02.
Range Resources (NYSE:RRC) traded up $0.49 on Wednesday, reaching $17.27. 7,348,800 shares of the company’s stock were exchanged, compared to its average volume of 8,242,833. Range Resources has a 12 month low of $15.33 and a 12 month high of $36.40. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The stock has a market cap of $4,290.00, a price-to-earnings ratio of -82.24 and a beta of 0.91.
Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The company had revenue of $482.20 million during the quarter, compared to analysts’ expectations of $543.16 million. During the same period last year, the business earned ($0.06) EPS. Range Resources’s revenue for the quarter was up 16.7% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama boosted its stake in Range Resources by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 91,236 shares of the oil and gas exploration company’s stock worth $2,114,000 after purchasing an additional 305 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Range Resources by 4.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 958,543 shares of the oil and gas exploration company’s stock worth $22,210,000 after purchasing an additional 42,168 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Range Resources by 17.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,766 shares of the oil and gas exploration company’s stock worth $806,000 after purchasing an additional 5,077 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Range Resources by 42.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 18,624 shares of the oil and gas exploration company’s stock worth $462,000 after purchasing an additional 5,555 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Range Resources by 4.9% during the 2nd quarter. Rhumbline Advisers now owns 351,176 shares of the oil and gas exploration company’s stock worth $8,137,000 after purchasing an additional 16,428 shares during the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Anthony V. Dub sold 2,897 shares of Range Resources stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total value of $46,525.82. Following the sale, the director now owns 96,000 shares of the company’s stock, valued at approximately $1,541,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Roger S. Manny sold 10,757 shares of Range Resources 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 completion of 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. Insiders sold a total of 44,574 shares of company stock worth $729,007 in the last three months. 0.42% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Thursday, December 14th. Range Resources’s dividend payout ratio (DPR) is -38.10%.
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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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