Range Resources Corp. (NYSE:RRC) – Analysts at Jefferies Group upped their Q1 2018 EPS estimates for Range Resources in a research note issued on Monday. Jefferies Group analyst M. Lear now anticipates that the oil and gas exploration company will post earnings per share of $0.55 for the quarter, up from their prior forecast of $0.35. Jefferies Group has a “Buy” rating and a $24.00 price objective on the stock. Jefferies Group also issued estimates for Range Resources’ Q2 2018 earnings at $0.10 EPS, Q3 2018 earnings at $0.13 EPS, Q1 2019 earnings at $0.33 EPS, Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.37 EPS and FY2019 earnings at $1.02 EPS.
Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 27th. The oil and gas exploration company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The firm had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $659.71 million. Range Resources had a net margin of 12.76% and a return on equity of 5.42%. The company’s quarterly revenue was up 167.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share.
Shares of Range Resources stock opened at $14.65 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.54 and a current ratio of 0.57. The firm has a market cap of $3,827.50, a PE ratio of 10.93, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69. Range Resources has a 52 week low of $11.93 and a 52 week high of $30.30.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.08 annualized dividend and a yield of 0.55%. Range Resources’s dividend payout ratio is currently 5.97%.
In other Range Resources news, Director Steffen E. Palko acquired 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average cost of $14.72 per share, for a total transaction of $500,480.00. Following the completion of the acquisition, the director now directly owns 61,267 shares of the company’s stock, valued at approximately $901,850.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in RRC. Mackenzie Financial Corp lifted its holdings in Range Resources by 2,708.2% in the fourth 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 lifted its holdings in Range Resources by 7.9% in the fourth 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. Point72 Asset Management L.P. acquired a new position in Range Resources in the third quarter valued at approximately $34,462,000. Guggenheim Capital LLC lifted its holdings in Range Resources by 55.2% in the fourth 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. Finally, HBK Investments L P acquired a new position in Range Resources in the fourth quarter valued at approximately $15,369,000. Institutional investors and hedge funds own 96.30% of the company’s stock.
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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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