Jefferies Financial Group Comments on Range Resources Corp.’s Q4 2018 Earnings (RRC)

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Range Resources Corp. (NYSE:RRC) – Equities researchers at Jefferies Financial Group lifted their Q4 2018 earnings per share estimates for shares of Range Resources in a note issued to investors on Monday, October 15th. Jefferies Financial Group analyst M. Lear now expects that the oil and gas exploration company will post earnings per share of $0.23 for the quarter, up from their previous forecast of $0.18. Jefferies Financial Group also issued estimates for Range Resources’ Q1 2019 earnings at $0.31 EPS, Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.18 EPS, Q1 2020 earnings at $0.45 EPS, Q2 2020 earnings at $0.36 EPS, Q3 2020 earnings at $0.39 EPS and FY2020 earnings at $1.72 EPS.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Monday, July 30th. The oil and gas exploration company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The company had revenue of $745.00 million during the quarter, compared to analyst estimates of $671.50 million. Range Resources had a net margin of 2.46% and a return on equity of 4.00%. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS.

RRC has been the subject of several other reports. TD Securities started coverage on shares of Range Resources in a report on Thursday, July 5th. They set a “hold” rating and a $18.00 price objective for the company. Wolfe Research raised shares of Range Resources from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 27th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $27.00 price target on shares of Range Resources in a report on Friday, July 20th. Capital One Financial raised shares of Range Resources from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st. Finally, Royal Bank of Canada raised shares of Range Resources to a “hold” rating in a report on Wednesday, September 26th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $22.38.

Shares of RRC stock opened at $17.16 on Wednesday. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 1.38 and a beta of 0.57. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 0.73. Range Resources has a 1-year low of $11.93 and a 1-year high of $19.38.

Large investors have recently modified their holdings of the stock. St. Johns Investment Management Company LLC bought a new stake in Range Resources in the 2nd quarter valued at about $100,000. Nisa Investment Advisors LLC lifted its position in Range Resources by 47.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock valued at $199,000 after purchasing an additional 3,750 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Range Resources in the 2nd quarter valued at about $207,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Range Resources in the 2nd quarter valued at about $212,000. Finally, BlueMountain Capital Management LLC bought a new stake in Range Resources in the 2nd quarter valued at about $223,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

The company also recently disclosed 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 yield of 0.47%. 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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Earnings History and Estimates for Range Resources (NYSE:RRC)

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