Analysts expect Range Resources Corp. (NYSE:RRC) to announce earnings of $0.26 per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Range Resources’ earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.17. Range Resources posted earnings of $0.22 per share during the same quarter last year, which would suggest a positive year over year growth rate of 18.2%. The business is expected to issue its next quarterly earnings results on Tuesday, February 26th.
On average, analysts expect that Range Resources will report full-year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.10 to $1.28. For the next fiscal year, analysts expect that the firm will report earnings of $1.42 per share, with EPS estimates ranging from $0.87 to $2.23. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Range Resources.
Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The business had revenue of $811.20 million for the quarter, compared to analyst estimates of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. Range Resources’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.
A number of equities research analysts have commented on the company. B. Riley upgraded Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.00 to $22.00 in a research report on Thursday, September 20th. Capital One Financial upgraded Range Resources from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 31st. Royal Bank of Canada upgraded Range Resources to a “hold” rating in a research report on Wednesday, September 26th. Morgan Stanley reduced their price target on Range Resources from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Thursday, August 16th. Finally, KLR Group reiterated a “buy” rating and issued a $23.00 price target on shares of Range Resources in a research report on Monday, August 20th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.55.
RRC stock traded down $0.18 during midday trading on Tuesday, reaching $17.39. 5,034,290 shares of the stock were exchanged, compared to its average volume of 7,536,475. The firm has a market capitalization of $4.09 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.16 and a beta of 0.58. Range Resources has a 52 week low of $11.93 and a 52 week high of $19.38. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Range Resources by 26.4% in the 2nd quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock valued at $330,575,000 after purchasing an additional 4,132,913 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Range Resources by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,997,480 shares of the oil and gas exploration company’s stock valued at $150,530,000 after purchasing an additional 1,014,157 shares during the period. ANTIPODES PARTNERS Ltd lifted its stake in shares of Range Resources by 54.6% in the 2nd 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 purchasing an additional 2,058,057 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Range Resources by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 2,804,874 shares of the oil and gas exploration company’s stock valued at $47,655,000 after purchasing an additional 93,872 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Range Resources by 34.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,521,453 shares of the oil and gas exploration company’s stock valued at $42,184,000 after purchasing an additional 640,077 shares during the period.
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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