Wall Street brokerages forecast that Range Resources Corp. (NYSE:RRC) will announce $712.01 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Range Resources’ earnings. The lowest sales estimate is $655.00 million and the highest is $831.30 million. Range Resources reported sales of $776.66 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.3%. The company is expected to issue its next quarterly earnings report on Monday, April 23rd.
According to Zacks, analysts expect that Range Resources will report full-year sales of $712.01 million for the current fiscal year, with estimates ranging from $2.58 billion to $2.90 billion. For the next fiscal year, analysts expect that the business will post sales of $2.95 billion per share, with estimates ranging from $2.78 billion to $3.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Range Resources.
Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, February 27th. The oil and gas exploration company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.07. Range Resources had a net margin of 12.76% and a return on equity of 5.42%. The firm had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $659.71 million. During the same period in the prior year, the company posted $0.23 EPS. The company’s revenue was up 167.9% on a year-over-year basis.
In other Range Resources news, Director Steffen E. Palko acquired 34,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were purchased at an average price of $14.72 per share, for a total transaction of $500,480.00. Following the completion of the acquisition, the director now owns 61,267 shares in the company, valued at approximately $901,850.24. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Nationwide Fund Advisors raised its holdings in Range Resources by 10.4% during the third quarter. Nationwide Fund Advisors now owns 359,124 shares of the oil and gas exploration company’s stock worth $7,028,000 after buying an additional 33,783 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Range Resources by 72.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 46,324 shares of the oil and gas exploration company’s stock worth $907,000 after buying an additional 19,474 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Range Resources during the third quarter worth $244,000. Prudential Financial Inc. raised its holdings in Range Resources by 7.5% during the third quarter. Prudential Financial Inc. now owns 270,831 shares of the oil and gas exploration company’s stock worth $5,300,000 after buying an additional 18,880 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Range Resources by 14.6% during the third quarter. Principal Financial Group Inc. now owns 342,259 shares of the oil and gas exploration company’s stock worth $6,698,000 after buying an additional 43,665 shares during the last quarter. Hedge funds and other institutional investors own 96.30% of the company’s stock.
Range Resources stock traded down $0.45 during trading hours on Friday, hitting $14.66. 4,963,920 shares of the stock were exchanged, compared to its average volume of 9,698,408. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.54 and a current ratio of 0.57. Range Resources has a 12 month low of $11.93 and a 12 month high of $30.30. The company has a market cap of $3,755.43, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.66 and a beta of 0.69.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, March 15th. Range Resources’s dividend payout ratio is presently 5.97%.
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Range Resources 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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