$578.08 Million in Sales Expected for Range Resources Co. (NYSE:RRC) This Quarter

Wall Street analysts predict that Range Resources Co. (NYSE:RRC) will announce $578.08 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Range Resources’ earnings. The lowest sales estimate is $490.93 million and the highest is $675.08 million. Range Resources posted sales of $376.55 million in the same quarter last year, which suggests a positive year over year growth rate of 53.5%. The business is expected to report its next earnings report on Monday, August 2nd.

On average, analysts expect that Range Resources will report full-year sales of $2.46 billion for the current fiscal year, with estimates ranging from $2.11 billion to $2.69 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.44 billion, with estimates ranging from $2.04 billion to $2.69 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Range Resources.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Sunday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.07. Range Resources had a negative net margin of 40.04% and a positive return on equity of 2.27%. The firm had revenue of $626.00 million for the quarter, compared to analysts’ expectations of $558.74 million. During the same period in the prior year, the company earned $0.04 EPS. The firm’s revenue was down 9.8% on a year-over-year basis.

Several equities analysts have weighed in on RRC shares. TD Securities set a $6.00 price target on Range Resources and gave the stock a “reduce” rating in a research report on Thursday, February 25th. Morgan Stanley lifted their price objective on Range Resources from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 19th. Northland Securities upped their target price on shares of Range Resources from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. Royal Bank of Canada upgraded shares of Range Resources from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $15.00 to $20.00 in a report on Thursday. Finally, Siebert Williams Shank upgraded Range Resources from a “hold” rating to a “buy” rating in a research note on Thursday, May 13th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.68.

In related news, COO Dennis Degner sold 41,680 shares of the firm’s stock in a transaction on Thursday, May 20th. The stock was sold at an average price of $14.01, for a total transaction of $583,936.80. Following the transaction, the chief operating officer now directly owns 40,381 shares in the company, valued at $565,737.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dori Ginn sold 25,328 shares of Range Resources stock in a transaction on Thursday, May 20th. The stock was sold at an average price of $14.01, for a total transaction of $354,845.28. Following the completion of the transaction, the senior vice president now directly owns 67,724 shares of the company’s stock, valued at approximately $948,813.24. The disclosure for this sale can be found here. Insiders sold 209,541 shares of company stock valued at $2,927,037 over the last quarter. Insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in Range Resources in the 1st quarter valued at approximately $31,000. Meeder Asset Management Inc. increased its holdings in shares of Range Resources by 172.8% during the first quarter. Meeder Asset Management Inc. now owns 4,378 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 2,773 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Range Resources during the fourth quarter valued at about $60,000. Solstein Capital LLC acquired a new stake in Range Resources in the first quarter worth about $63,000. Finally, One68 Global Capital LLC acquired a new position in shares of Range Resources during the 4th quarter valued at $67,000. Institutional investors and hedge funds own 89.72% of the company’s stock.

Shares of RRC traded up $0.64 during mid-day trading on Tuesday, reaching $16.03. 176,788 shares of the company’s stock were exchanged, compared to its average volume of 5,634,444. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.44 and a current ratio of 0.44. Range Resources has a 52-week low of $5.08 and a 52-week high of $15.71. The company has a market cap of $4.16 billion, a P/E ratio of -5.09, a price-to-earnings-growth ratio of 0.77 and a beta of 2.68. The stock’s 50-day simple moving average is $11.73.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2020, the company owned and operated 1,310 net producing wells and approximately 781,000 net acres under lease located in the Appalachian region of the northeastern United States.

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Earnings History and Estimates for Range Resources (NYSE:RRC)

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