Analysts Anticipate Range Resources Co. (NYSE:RRC) Will Announce Earnings of $0.20 Per Share

Equities analysts predict that Range Resources Co. (NYSE:RRC) will post earnings of $0.20 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Range Resources’ earnings. The highest EPS estimate is $0.40 and the lowest is $0.02. Range Resources posted earnings per share of ($0.10) during the same quarter last year, which suggests a positive year over year growth rate of 300%. The business is scheduled to report its next earnings report on Monday, August 2nd.

On average, analysts expect that Range Resources will report full year earnings of $1.05 per share for the current year, with EPS estimates ranging from $0.42 to $1.44. For the next year, analysts expect that the business will report earnings of $1.08 per share, with EPS estimates ranging from $0.61 to $1.70. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Range Resources.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Sunday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, beating the 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 business had revenue of $626.00 million during the quarter, compared to the consensus estimate of $558.74 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The business’s revenue was down 9.8% on a year-over-year basis.

Several analysts have recently issued reports on the company. Royal Bank of Canada raised Range Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $15.00 to $20.00 in a report on Thursday. Morgan Stanley upped their price target on shares of Range Resources from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 19th. Northland Securities lifted their price objective on shares of Range Resources from $14.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. TD Securities set a $6.00 target price on shares of Range Resources and gave the stock a “reduce” rating in a report on Thursday, February 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Range Resources in a report on Tuesday, March 23rd. They issued a “sell” rating and a $9.00 price target for the company. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $10.68.

Range Resources stock traded up $0.64 during midday trading on Friday, reaching $16.03. 176,788 shares of the stock traded hands, compared to its average volume of 5,634,444. The company has a market cap of $4.16 billion, a PE ratio of -5.09, a P/E/G ratio of 0.77 and a beta of 2.68. The business’s fifty day moving average price is $11.73. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 1.84. Range Resources has a 12 month low of $5.08 and a 12 month high of $15.71.

In other Range Resources news, SVP Dori Ginn sold 25,328 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 $354,845.28. Following the transaction, the senior vice president now directly owns 67,724 shares in the company, valued at approximately $948,813.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Ventura sold 105,000 shares of Range Resources stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $14.01, for a total value of $1,471,050.00. Following the sale, the chief executive officer now directly owns 931,784 shares of the company’s stock, valued at $13,054,293.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,541 shares of company stock valued at $2,927,037. Corporate insiders own 1.10% of the company’s stock.

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

About Range Resources

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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