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

Range Resources (NYSE:RRC) is scheduled to release its earnings data after the market closes on Tuesday, October 22nd. Analysts expect Range Resources to post earnings of $0.33 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Range Resources (NYSE:RRC) last issued 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 analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. 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

Shares of Range Resources stock opened at $30.57 on Tuesday. Range Resources has a one year low of $27.29 and a one year high of $39.33. The stock’s 50-day moving average is $30.14 and its 200-day moving average is $33.31. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 15.52 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is presently 16.24%.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. UBS Group reduced their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a report on Wednesday, September 18th. Wolfe Research began coverage on shares of Range Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Morgan Stanley lowered their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company upgraded shares of Range Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $39.00 in a report on Tuesday, October 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Range Resources presently has an average rating of “Hold” and an average price target of $35.41.

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.