Range Resources Corporation (NYSE:RRC) – Investment analysts at KeyCorp reduced their Q4 2017 earnings per share (EPS) estimates for shares of Range Resources Corporation in a note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum now expects that the oil and gas exploration company will post earnings of $0.17 per share for the quarter, down from their previous forecast of $0.18. KeyCorp has a “Hold” rating on the stock.
Range Resources Corporation (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Range Resources Corporation had a positive return on equity of 1.63% and a negative net margin of 2.23%. The business had revenue of $482.20 million for the quarter, compared to the consensus estimate of $543.16 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The business’s revenue was up 16.7% compared to the same quarter last year.
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Several other research analysts have also recently commented on the company. Cowen and Company reissued a “buy” rating and set a $35.00 target price on shares of Range Resources Corporation in a research note on Tuesday, August 22nd. Zacks Investment Research raised Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Monday, July 17th. Piper Jaffray Companies set a $35.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research note on Thursday, October 19th. Barclays PLC lowered their target price on Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating for the company in a research note on Thursday, August 3rd. Finally, Scotiabank reissued a “buy” rating and set a $30.00 target price on shares of Range Resources Corporation in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.89.
Range Resources Corporation (NYSE:RRC) opened at 18.06 on Friday. Range Resources Corporation has a 52-week low of $16.00 and a 52-week high of $39.64. The stock’s 50 day moving average price is $19.09 and its 200-day moving average price is $21.54. The company has a market cap of $4.41 billion, a P/E ratio of 122.03 and a beta of 0.95.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in Range Resources Corporation by 18,002.1% during the 3rd quarter. Victory Capital Management Inc. now owns 587,052 shares of the oil and gas exploration company’s stock valued at $11,488,000 after acquiring an additional 583,809 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Range Resources Corporation during the 3rd quarter valued at approximately $244,000. Raymond James Financial Services Advisors Inc. raised its stake in Range Resources Corporation by 72.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 46,324 shares of the oil and gas exploration company’s stock valued at $907,000 after acquiring an additional 19,474 shares during the last quarter. Oslo Asset Management AS raised its stake in Range Resources Corporation by 16.3% during the 3rd quarter. Oslo Asset Management AS now owns 675,300 shares of the oil and gas exploration company’s stock valued at $13,216,000 after acquiring an additional 94,500 shares during the last quarter. Finally, Cubic Asset Management LLC raised its stake in Range Resources Corporation by 12.0% during the 3rd quarter. Cubic Asset Management LLC now owns 39,285 shares of the oil and gas exploration company’s stock valued at $769,000 after acquiring an additional 4,215 shares during the last quarter. 95.20% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Steffen E. Palko bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $16.81 per share, with a total value of $252,150.00. Following the transaction, the director now directly owns 27,267 shares in the company, valued at $458,358.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mary Ralph Lowe bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $17.99 per share, with a total value of $179,900.00. Following the completion of the transaction, the director now owns 25,413 shares in the company, valued at $457,179.87. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 26,000 shares of company stock valued at $449,800. Insiders own 2.40% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.44%. Range Resources Corporation’s dividend payout ratio (DPR) is presently -38.09%.
Range Resources Corporation Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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