Equities research analysts expect Range Resources Corporation (NYSE:RRC) to report $524.84 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Range Resources Corporation’s earnings, with the lowest sales estimate coming in at $468.80 million and the highest estimate coming in at $601.66 million. Range Resources Corporation posted sales of $413.21 million during the same quarter last year, which suggests a positive year over year growth rate of 27%. The business is expected to report its next earnings report on Tuesday, October 24th.
On average, analysts expect that Range Resources Corporation will report full-year sales of $524.84 million for the current fiscal year, with estimates ranging from $2.16 billion to $2.63 billion. For the next year, analysts forecast that the firm will report sales of $2.71 billion per share, with estimates ranging from $2.60 billion to $2.86 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Range Resources Corporation.
Range Resources Corporation (NYSE:RRC) last announced its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.20. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The firm had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. During the same quarter in the previous year, the company posted ($1.35) EPS. The firm’s revenue for the quarter was up 55.8% on a year-over-year basis.
Several equities research analysts have recently commented on RRC shares. Goldman Sachs Group, Inc. (The) downgraded Range Resources Corporation from a “conviction-buy” rating to a “buy” rating and set a $42.50 target price for the company. in a report on Friday, June 2nd. Royal Bank Of Canada set a $44.00 target price on Range Resources Corporation and gave the company a “buy” rating in a report on Saturday, June 3rd. BMO Capital Markets set a $35.00 target price on Range Resources Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Citigroup Inc. reduced their target price on Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, Zacks Investment Research raised Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Monday, July 17th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $38.33.
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In other Range Resources Corporation news, Director Mary Ralph Lowe bought 10,000 shares of the stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $17.99 per share, with a total value of $179,900.00. Following the acquisition, the director now directly owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steffen E. Palko bought 15,000 shares of the stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $16.81 per share, for a total transaction of $252,150.00. Following the acquisition, the director now directly owns 27,267 shares in the company, valued at $458,358.27. The disclosure for this purchase can be found here. In the last three months, insiders have bought 26,000 shares of company stock worth $449,800. 0.42% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sentry Investment Management LLC grew its holdings in Range Resources Corporation by 858.6% in the 2nd quarter. Sentry Investment Management LLC now owns 135,628 shares of the oil and gas exploration company’s stock valued at $3,143,000 after buying an additional 121,479 shares during the last quarter. Toronto Dominion Bank grew its holdings in Range Resources Corporation by 27.1% in the 2nd quarter. Toronto Dominion Bank now owns 64,474 shares of the oil and gas exploration company’s stock valued at $1,493,000 after buying an additional 13,740 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Range Resources Corporation by 57.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,545 shares of the oil and gas exploration company’s stock valued at $615,000 after buying an additional 9,704 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Range Resources Corporation by 9.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 111,453 shares of the oil and gas exploration company’s stock valued at $2,582,000 after buying an additional 10,043 shares during the last quarter. Finally, Kingfisher Capital LLC grew its holdings in Range Resources Corporation by 8.3% in the 2nd quarter. Kingfisher Capital LLC now owns 42,769 shares of the oil and gas exploration company’s stock valued at $991,000 after buying an additional 3,292 shares during the last quarter. 95.51% of the stock is currently owned by hedge funds and other institutional investors.
Range Resources Corporation (NYSE:RRC) opened at 18.54 on Monday. The company has a 50-day moving average of $17.96 and a 200 day moving average of $23.43. Range Resources Corporation has a 52 week low of $15.99 and a 52 week high of $40.20. The firm has a market cap of $4.52 billion, a P/E ratio of 125.27 and a beta of 0.94.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, September 14th. Range Resources Corporation’s dividend payout ratio is 100.01%.
Range Resources Corporation Company Profile
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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