Range Resources (RRC) Set to Announce Quarterly Earnings on Tuesday

Range Resources (NYSE:RRC) will be announcing its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $0.33 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. During the same period last year, the business posted $0.27 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, analysts expect Range Resources to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Range Resources Price Performance

Shares of RRC stock opened at $29.79 on Monday. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 15.12 and a beta of 1.80. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s 50-day simple moving average is $30.20 and its 200-day simple moving average is $33.18.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. Range Resources’s dividend payout ratio is currently 16.24%.

Analysts Set New Price Targets

RRC has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Jefferies Financial Group lifted their target price on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Mizuho reduced their price objective on Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group decreased their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.06.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.57% of the company’s stock.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.