Brokerages expect that Range Resources Co. (NYSE:RRC – Get Rating) will announce $923.28 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Range Resources’ earnings. The lowest sales estimate is $776.30 million and the highest is $1.01 billion. Range Resources reported sales of $626.03 million during the same quarter last year, which would suggest a positive year over year growth rate of 47.5%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.
On average, analysts expect that Range Resources will report full year sales of $3.68 billion for the current year, with estimates ranging from $2.90 billion to $4.56 billion. For the next year, analysts anticipate that the firm will report sales of $3.54 billion, with estimates ranging from $2.88 billion to $4.27 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Range Resources.
Range Resources (NYSE:RRC – Get Rating) last issued its earnings results on Tuesday, February 22nd. The oil and gas exploration company reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.02). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $871.99 million. Range Resources had a net margin of 14.05% and a return on equity of 31.21%. The firm’s revenue was up 161.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS.
In related news, SVP Dori Ginn sold 10,000 shares of the stock in a transaction on Friday, April 8th. The stock was sold at an average price of $32.60, for a total value of $326,000.00. Following the transaction, the senior vice president now directly owns 75,098 shares of the company’s stock, valued at approximately $2,448,194.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC boosted its holdings in Range Resources by 4.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,208,601 shares of the oil and gas exploration company’s stock valued at $185,761,000 after acquiring an additional 313,811 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Range Resources by 223.4% in the fourth quarter. JPMorgan Chase & Co. now owns 6,093,208 shares of the oil and gas exploration company’s stock valued at $108,642,000 after acquiring an additional 4,209,030 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Range Resources by 0.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,968,245 shares of the oil and gas exploration company’s stock valued at $70,754,000 after acquiring an additional 33,119 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Range Resources by 6.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,651,836 shares of the oil and gas exploration company’s stock valued at $47,282,000 after acquiring an additional 149,040 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Range Resources by 499.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,000,551 shares of the oil and gas exploration company’s stock valued at $35,670,000 after purchasing an additional 1,666,788 shares during the period. Hedge funds and other institutional investors own 91.40% of the company’s stock.
Shares of NYSE RRC opened at $30.35 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.30. Range Resources has a 52 week low of $8.71 and a 52 week high of $34.61. The firm has a 50-day moving average price of $27.49 and a 200 day moving average price of $23.17. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 0.28 and a beta of 2.12.
Range Resources declared that its board has authorized a share buyback program on Tuesday, February 22nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas exploration company to buy up to 9.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
About Range Resources (Get Rating)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
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