Range Resources Corp. (NYSE:RRC) – Stock analysts at Piper Jaffray Companies issued their Q3 2018 earnings per share estimates for Range Resources in a report issued on Sunday, October 7th. Piper Jaffray Companies analyst K. Harrison expects that the oil and gas exploration company will post earnings of $0.17 per share for the quarter. Piper Jaffray Companies has a “Buy” rating and a $27.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Range Resources’ Q4 2018 earnings at $0.16 EPS, FY2018 earnings at $0.88 EPS, Q1 2019 earnings at $0.38 EPS, Q2 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.58 EPS, Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.45 EPS and FY2020 earnings at $2.02 EPS.
Range Resources (NYSE:RRC) last issued 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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $671.50 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 31.9% on a year-over-year basis.
A number of other research analysts also recently issued reports on the stock. B. Riley upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $22.00 in a research note on Thursday, September 20th. Capital One Financial upgraded shares of Range Resources from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 31st. Morgan Stanley decreased their price target on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, August 16th. KLR Group reiterated a “buy” rating and issued a $23.00 price target on shares of Range Resources in a research note on Monday, August 20th. Finally, 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. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $21.90.
Shares of Range Resources stock opened at $17.91 on Tuesday. Range Resources has a 52-week low of $11.93 and a 52-week high of $20.28. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.24 billion, a P/E ratio of 30.88, a PEG ratio of 1.38 and a beta of 0.57.
Hedge funds have recently added to or reduced their stakes in the business. St. Johns Investment Management Company LLC acquired a new stake in Range Resources during the second quarter worth approximately $100,000. Envestnet Asset Management Inc. increased its holdings in shares of Range Resources by 53.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,509 shares of the oil and gas exploration company’s stock valued at $138,000 after acquiring an additional 3,331 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in shares of Range Resources in the 1st quarter valued at $143,000. Engineers Gate Manager LP acquired a new position in shares of Range Resources in the 2nd quarter valued at $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Range Resources in the 2nd quarter valued at $212,000. 96.48% of the stock is currently owned by institutional investors.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.45%. Range Resources’s payout ratio is currently 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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