Equities analysts expect Range Resources Corp. (NYSE:RRC) to post sales of $716.18 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Range Resources’ earnings, with the lowest sales estimate coming in at $633.00 million and the highest estimate coming in at $787.28 million. Range Resources reported sales of $482.23 million during the same quarter last year, which indicates a positive year-over-year growth rate of 48.5%. The company is expected to issue its next quarterly earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that Range Resources will report full-year sales of $2.87 billion for the current year, with estimates ranging from $2.60 billion to $3.14 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.16 billion per share, with estimates ranging from $2.79 billion to $3.47 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Range Resources.
Range Resources (NYSE:RRC) last posted its quarterly earnings results on Monday, July 30th. The oil and gas exploration company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $745.00 million during the quarter, compared to analysts’ expectations of $671.50 million. Range Resources had a net margin of 2.46% and a return on equity of 4.00%. The firm’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share.
Several analysts recently commented on RRC shares. KLR Group restated a “buy” rating and set a $23.00 price target on shares of Range Resources in a report on Monday. Piper Jaffray Companies restated a “buy” rating and set a $27.00 price target on shares of Range Resources in a report on Friday, July 20th. Stifel Nicolaus started coverage on shares of Range Resources in a report on Wednesday, May 23rd. They set a “buy” rating and a $21.50 price target for the company. TD Securities decreased their price target on shares of Range Resources from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, July 31st. Finally, Wolfe Research upgraded shares of Range Resources from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 27th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Range Resources has a consensus rating of “Hold” and an average price target of $21.98.
In other Range Resources news, insider Jeffrey L. Ventura sold 8,767 shares of Range Resources stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $17.54, for a total value of $153,773.18. Following the completion of the sale, the insider now directly owns 390,432 shares in the company, valued at $6,848,177.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David P. Poole sold 3,829 shares of Range Resources stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $17.54, for a total transaction of $67,160.66. Following the completion of the sale, the vice president now owns 37,484 shares of the company’s stock, valued at $657,469.36. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in RRC. Dimensional Fund Advisors LP raised its position in shares of Range Resources by 162.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,983,323 shares of the oil and gas exploration company’s stock valued at $116,078,000 after purchasing an additional 4,942,378 shares during the period. BlackRock Inc. raised its position in shares of Range Resources by 26.4% in the second 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. Russell Investments Group Ltd. increased its position in Range Resources by 1,268.7% during the first quarter. Russell Investments Group Ltd. now owns 3,003,181 shares of the oil and gas exploration company’s stock worth $43,655,000 after acquiring an additional 2,783,758 shares during the period. Fisher Asset Management LLC bought a new position in Range Resources during the first quarter worth $36,978,000. Finally, ANTIPODES PARTNERS Ltd increased its position in Range Resources by 54.6% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock worth $97,541,000 after acquiring an additional 2,058,057 shares during the period. 96.48% of the stock is currently owned by institutional investors.
Shares of RRC stock traded up $0.76 during trading on Friday, hitting $15.72. 443,417 shares of the company were exchanged, compared to its average volume of 5,829,663. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.49 and a current ratio of 0.52. The stock has a market cap of $3.71 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.30 and a beta of 0.57. Range Resources has a twelve month low of $11.93 and a twelve month high of $20.65.
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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