Range Resources Corp. (NYSE:RRC) – Analysts at Piper Jaffray Companies raised their Q2 2018 EPS estimates for shares of Range Resources in a research report issued to clients and investors on Sunday, May 20th. Piper Jaffray Companies analyst D. Kistler now forecasts that the oil and gas exploration company will post earnings of $0.15 per share for the quarter, up from their prior estimate of $0.12. Piper Jaffray Companies currently has a “Buy” rating and a $28.00 price target on the stock. Piper Jaffray Companies also issued estimates for Range Resources’ Q3 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.34 EPS, FY2018 earnings at $1.07 EPS, Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.42 EPS and FY2019 earnings at $1.53 EPS.
Other research analysts have also issued reports about the company. ValuEngine raised Range Resources from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. UBS initiated coverage on Range Resources in a research report on Wednesday, March 7th. They issued a “buy” rating and a $18.50 price objective for the company. KLR Group reissued a “buy” rating and issued a $27.00 price objective (up from $26.00) on shares of Range Resources in a research report on Thursday, March 1st. Jefferies Group set a $24.00 price objective on Range Resources and gave the stock a “buy” rating in a research report on Monday, March 19th. Finally, TheStreet raised Range Resources from a “d” rating to a “c-” rating in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.22.
Range Resources opened at $15.45 on Wednesday, MarketBeat Ratings reports. Range Resources has a 1-year low of $11.93 and a 1-year high of $25.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.50 and a quick ratio of 0.45. The stock has a market capitalization of $4.01 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56.
Range Resources (NYSE:RRC) last announced its earnings results on Wednesday, April 25th. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.09. The business had revenue of $742.60 million during the quarter, compared to analyst estimates of $725.60 million. Range Resources had a return on equity of 4.36% and a net margin of 8.24%. Range Resources’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS.
A number of institutional investors have recently modified their holdings of RRC. MHI Funds LLC bought a new stake in Range Resources in the 4th quarter valued at about $122,000. Envestnet Asset Management Inc. boosted its stake in Range Resources by 53.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,509 shares of the oil and gas exploration company’s stock valued at $138,000 after purchasing an additional 3,331 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Range Resources during the 1st quarter valued at about $143,000. Koch Industries Inc. acquired a new position in Range Resources during the 4th quarter valued at about $187,000. Finally, Gagnon Securities LLC acquired a new position in Range Resources during the 1st quarter valued at about $188,000. 90.35% of the stock is owned by institutional investors and hedge funds.
About Range Resources
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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