Range Resources Corp. (NYSE:RRC) – Equities researchers at B. Riley increased their Q3 2018 EPS estimates for Range Resources in a research report issued to clients and investors on Thursday, September 20th. B. Riley analyst R. Rashid now anticipates that the oil and gas exploration company will post earnings per share of $0.19 for the quarter, up from their prior estimate of $0.17. B. Riley currently has a “Buy” rating and a $22.00 target price on the stock. B. Riley also issued estimates for Range Resources’ Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.10 EPS, Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.42 EPS, Q4 2019 earnings at $0.65 EPS, FY2019 earnings at $2.00 EPS, Q1 2020 earnings at $0.67 EPS, Q2 2020 earnings at $0.43 EPS and FY2020 earnings at $2.29 EPS.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Monday, July 30th. The oil and gas exploration company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The firm had revenue of $745.00 million during the quarter, compared to analyst estimates of $671.50 million. Range Resources had a return on equity of 4.00% and a net margin of 2.46%. Range Resources’s quarterly revenue was up 31.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 earnings per share.

Several other research firms have also commented on RRC. Royal Bank of Canada set a $21.00 target price on Range Resources and gave the company a “buy” rating in a report on Thursday, September 20th. Wolfe Research raised Range Resources from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 27th. TD Securities assumed coverage on Range Resources in a report on Thursday, July 5th. They set a “hold” rating and a $18.00 target price for the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $27.00 target price on shares of Range Resources in a report on Friday, July 20th. Finally, Capital One Financial raised Range Resources from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $22.10.

Shares of Range Resources stock opened at $17.43 on Monday. The stock has a market capitalization of $4.36 billion, a P/E ratio of 30.00, a PEG ratio of 1.42 and a beta of 0.59. Range Resources has a fifty-two week low of $11.93 and a fifty-two week high of $20.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.52 and a quick ratio of 0.49.

Several hedge funds and other institutional investors have recently modified their holdings of RRC. Dimensional Fund Advisors LP lifted its position in Range Resources by 162.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,983,323 shares of the oil and gas exploration company’s stock worth $116,078,000 after purchasing an additional 4,942,378 shares during the period. BlackRock Inc. lifted its position in Range Resources by 26.4% in the second quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock worth $330,575,000 after purchasing an additional 4,132,913 shares during the period. Russell Investments Group Ltd. lifted its position in Range Resources by 1,268.7% in the first quarter. Russell Investments Group Ltd. now owns 3,003,181 shares of the oil and gas exploration company’s stock worth $43,655,000 after purchasing an additional 2,783,758 shares during the period. Fisher Asset Management LLC acquired a new stake in Range Resources in the first quarter worth approximately $36,978,000. Finally, ANTIPODES PARTNERS Ltd lifted its position in Range Resources by 54.6% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock worth $97,541,000 after purchasing an additional 2,058,057 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

In other news, VP David P. Poole sold 3,829 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $17.54, for a total transaction of $67,160.66. Following the completion of the transaction, the vice president now directly owns 37,484 shares in the company, valued at $657,469.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey L. Ventura sold 8,767 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $17.54, for a total value of $153,773.18. Following the transaction, the insider now owns 390,432 shares of the company’s stock, valued at $6,848,177.28. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.46%. Range Resources’s dividend payout ratio is presently 13.79%.

About Range Resources

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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Earnings History and Estimates for Range Resources (NYSE:RRC)

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