Wall Street analysts expect that Range Resources Corp. (NYSE:RRC) will post $642.31 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Range Resources’ earnings. The lowest sales estimate is $588.00 million and the highest is $708.30 million. Range Resources posted sales of $253.52 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 153.4%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, February 27th.
On average, analysts expect that Range Resources will report full-year sales of $642.31 million for the current year, with estimates ranging from $2.18 billion to $2.64 billion. For the next year, analysts forecast that the firm will report sales of $2.76 billion per share, with estimates ranging from $2.62 billion to $2.90 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Range Resources.
RRC has been the subject of a number of research analyst reports. Morgan Stanley cut Range Resources from an “equal weight” rating to an “underweight” rating and set a $11.00 target price for the company. in a research note on Wednesday, January 24th. Piper Jaffray Companies set a $35.00 target price on Range Resources and gave the company a “buy” rating in a research note on Thursday, October 19th. Zacks Investment Research upgraded Range Resources from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Friday, October 20th. Bank of America cut Range Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, January 4th. Finally, Cowen set a $25.00 price objective on Range Resources and gave the company a “buy” rating in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $25.59.
Range Resources (RRC) opened at $12.71 on Friday. The company has a market capitalization of $3,181.15, a P/E ratio of 35.61, a PEG ratio of 0.78 and a beta of 0.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47. Range Resources has a one year low of $11.93 and a one year high of $34.09.
In other Range Resources news, Director Steffen E. Palko bought 34,000 shares of Range Resources stock in a transaction on Tuesday, January 30th. The stock was acquired at an average price of $14.72 per share, with a total value of $500,480.00. Following the acquisition, the director now owns 61,267 shares in the company, valued at $901,850.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP David P. Poole sold 30,920 shares of Range Resources stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $16.36, for a total value of $505,851.20. Following the completion of the sale, the vice president now directly owns 17,647 shares of the company’s stock, valued at approximately $288,704.92. The disclosure for this sale can be found here. In the last three months, insiders sold 44,574 shares of company stock valued at $729,007. Corporate insiders own 2.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its holdings in shares of Range Resources by 1.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock worth $117,000 after purchasing an additional 64 shares in the last quarter. MHI Funds LLC bought a new stake in shares of Range Resources in the 4th quarter worth $122,000. Jolley Asset Management LLC bought a new stake in shares of Range Resources in the 4th quarter worth $125,000. Westwood Holdings Group Inc. increased its holdings in shares of Range Resources by 240.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock worth $205,000 after purchasing an additional 6,250 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Range Resources in the 4th quarter worth $192,000. 95.71% of the stock is owned by institutional investors and hedge funds.
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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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