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

Range Resources (NYSE:RRC) will be posting its quarterly earnings results after the market closes on Tuesday, October 22nd. Analysts expect Range Resources to post earnings of $0.33 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The business had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. 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 Stock Performance

NYSE:RRC opened at $29.79 on Monday. The firm has a market capitalization of $7.23 billion, a PE ratio of 15.12 and a beta of 1.80. The stock’s fifty day moving average is $30.20 and its 200 day moving average is $33.18. 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.

Range Resources Dividend Announcement

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

Insider Activity

In other news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Susquehanna cut their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company upgraded Range Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $39.00 in a report on Tuesday, October 1st. Stephens raised their price target on Range Resources from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective on the stock in a research report on Tuesday, August 20th. Finally, Morgan Stanley decreased their target price on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Range Resources has an average rating of “Hold” and an average target price of $35.06.

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.