Range Resources Corp. (NYSE:RRC) – Equities research analysts at Capital One Financial increased their Q3 2018 earnings per share estimates for shares of Range Resources in a report released on Tuesday, October 16th. Capital One Financial analyst B. Velie now anticipates that the oil and gas exploration company will earn $0.23 per share for the quarter, up from their prior estimate of $0.22. Capital One Financial has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Range Resources’ Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $1.03 EPS and FY2019 earnings at $1.04 EPS.
Range Resources (NYSE:RRC) last released its quarterly earnings results on Monday, July 30th. The oil and gas exploration company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. Range Resources had a net margin of 2.46% and a return on equity of 4.00%. The company had revenue of $745.00 million for the quarter, compared to analysts’ expectations of $671.50 million. During the same period last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year.
Several other equities research analysts have also recently issued reports on the stock. B. Riley raised shares of Range Resources from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.00 to $22.00 in a research note on Thursday, September 20th. Royal Bank of Canada set a $21.00 price target on shares of Range Resources and gave the stock a “buy” rating in a research note on Thursday, September 20th. Morgan Stanley decreased their price target on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Thursday, August 16th. KLR Group reaffirmed a “buy” rating and set a $23.00 price target on shares of Range Resources in a research note on Monday, August 20th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $27.00 price target on shares of Range Resources in a research note on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Range Resources currently has a consensus rating of “Hold” and an average target price of $22.05.
Range Resources stock opened at $17.25 on Wednesday. Range Resources has a 12-month low of $11.93 and a 12-month high of $19.73. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.38 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.49 and a current ratio of 0.52.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. St. Johns Investment Management Company LLC purchased a new position in Range Resources in the second quarter valued at approximately $100,000. Nisa Investment Advisors LLC raised its holdings in Range Resources by 47.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock valued at $199,000 after buying an additional 3,750 shares during the period. Engineers Gate Manager LP purchased a new position in Range Resources in the second quarter valued at approximately $207,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Range Resources in the second quarter valued at approximately $212,000. Finally, BlueMountain Capital Management LLC purchased a new position in Range Resources in the second quarter valued at approximately $223,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.46%. Range Resources’s dividend payout ratio is presently 13.79%.
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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