Equities research analysts forecast that Range Resources (NYSE:RRC) will post sales of $715.12 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Range Resources’ earnings. The lowest sales estimate is $655.00 million and the highest is $740.80 million. Range Resources reported sales of $776.66 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7.9%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Range Resources will report full-year sales of $2.78 billion for the current year, with estimates ranging from $2.71 billion to $2.86 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.99 billion per share, with estimates ranging from $2.90 billion to $3.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Range Resources.
Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas exploration company reported $0.22 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $659.71 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm’s revenue was up 167.9% compared to the same quarter last year.
NYSE RRC traded down $0.55 during trading hours on Thursday, reaching $13.69. 7,419,335 shares of the company traded hands, compared to its average volume of 6,414,322. Range Resources has a 12 month low of $11.93 and a 12 month high of $28.76. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.57 and a quick ratio of 0.54. The company has a market capitalization of $3,402.50, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 0.57 and a beta of 0.55.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were issued a $0.02 dividend. The ex-dividend date was Thursday, March 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.58%. Range Resources’s dividend payout ratio (DPR) is presently 13.79%.
In other news, Director Steffen E. Palko acquired 34,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average price of $14.72 per share, with a total value of $500,480.00. Following the acquisition, the director now directly owns 61,267 shares in the company, valued at $901,850.24. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its stake in Range Resources by 2,708.2% during the 4th quarter. Mackenzie Financial Corp now owns 3,057,252 shares of the oil and gas exploration company’s stock valued at $52,157,000 after buying an additional 2,948,384 shares during the period. SailingStone Capital Partners LLC increased its stake in Range Resources by 7.9% during the 4th quarter. SailingStone Capital Partners LLC now owns 35,832,571 shares of the oil and gas exploration company’s stock valued at $611,304,000 after buying an additional 2,623,957 shares during the period. Guggenheim Capital LLC increased its stake in Range Resources by 55.2% during the 4th quarter. Guggenheim Capital LLC now owns 3,579,421 shares of the oil and gas exploration company’s stock valued at $61,063,000 after buying an additional 1,272,442 shares during the period. HBK Investments L P acquired a new position in Range Resources during the 4th quarter valued at about $15,369,000. Finally, BlackRock Inc. increased its stake in Range Resources by 4.5% during the 4th quarter. BlackRock Inc. now owns 15,543,438 shares of the oil and gas exploration company’s stock valued at $265,170,000 after buying an additional 673,151 shares during the period. 96.40% of the stock is currently owned by institutional investors and hedge funds.
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Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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