Range Resources Corp. (NYSE:RRC) – Equities researchers at B. Riley decreased their FY2019 earnings estimates for Range Resources in a research report issued to clients and investors on Tuesday, November 6th. B. Riley analyst R. Rashid now forecasts that the oil and gas exploration company will earn $1.94 per share for the year, down from their previous forecast of $2.23. B. Riley currently has a “Buy” rating and a $29.00 target price on the stock. B. Riley also issued estimates for Range Resources’ Q4 2019 earnings at $0.55 EPS.
Several other analysts have also recently commented on RRC. Piper Jaffray Companies reissued a “buy” rating and issued a $27.00 price target on shares of Range Resources in a report on Friday, July 20th. TD Securities reduced their price target on Range Resources from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, July 31st. Capital One Financial raised Range Resources from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st. Morgan Stanley reduced their price target on Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, August 16th. Finally, KLR Group reissued a “buy” rating and issued a $23.00 price target on shares of Range Resources in a report on Monday, August 20th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.55.
RRC opened at $17.70 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $4.36 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.58. Range Resources has a 12 month low of $11.93 and a 12 month high of $19.38.
Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.18 by $0.08. The business had revenue of $811.20 million during the quarter, compared to analysts’ expectations of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS.
A number of hedge funds have recently modified their holdings of RRC. St. Johns Investment Management Company LLC acquired a new position in Range Resources during the second quarter worth $100,000. DekaBank Deutsche Girozentrale raised its holdings in Range Resources by 265.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 6,660 shares of the oil and gas exploration company’s stock worth $110,000 after purchasing an additional 4,840 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Range Resources by 94.9% during the third quarter. Penserra Capital Management LLC now owns 9,860 shares of the oil and gas exploration company’s stock worth $166,000 after purchasing an additional 4,800 shares during the last quarter. Palo Capital Inc. acquired a new position in Range Resources during the third quarter worth $198,000. Finally, Nisa Investment Advisors LLC increased its position in Range Resources by 47.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock worth $199,000 after buying an additional 3,750 shares in the last quarter.
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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