$996.76 Million in Sales Expected for Range Resources Co. (NYSE:RRC) This Quarter

Equities research analysts expect Range Resources Co. (NYSE:RRC – Get Rating) to report $996.76 million in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Range Resources’ earnings. The lowest sales estimate is $790.90 million and the highest is $1.33 billion. Range Resources posted sales of $434.72 million during the same quarter last year, which would indicate a positive year over year growth rate of 129.3%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Range Resources will report full year sales of $3.91 billion for the current year, with estimates ranging from $2.45 billion to $5.46 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.08 billion, with estimates ranging from $3.07 billion to $5.04 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Range Resources.

Range Resources (NYSE:RRC – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The oil and gas exploration company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.03. The firm had revenue of $986.66 million for the quarter, compared to analyst estimates of $955.47 million. Range Resources had a negative net margin of 2.90% and a positive return on equity of 45.50%. During the same quarter in the prior year, the business earned $0.30 EPS.

Several research firms have weighed in on RRC. Susquehanna Bancshares upped their price objective on shares of Range Resources from $24.00 to $34.00 in a research note on Monday, April 25th. TD Securities decreased their target price on shares of Range Resources from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, April 27th. Morgan Stanley boosted their target price on shares of Range Resources from $25.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, April 22nd. StockNews.com initiated coverage on shares of Range Resources in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Truist Financial boosted their target price on shares of Range Resources from $33.00 to $37.00 in a research report on Thursday, April 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $30.21.

In other Range Resources news, SVP Dori Ginn sold 10,000 shares of the stock in a transaction on Friday, April 8th. The shares were sold at an average price of $32.60, for a total value of $326,000.00. Following the completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. 0.93% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of RRC. JPMorgan Chase & Co. raised its stake in shares of Range Resources by 223.4% in the 4th 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 buying an additional 4,209,030 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Range Resources by 499.4% in the 4th 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 buying an additional 1,666,788 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Range Resources by 284.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,685,239 shares of the oil and gas exploration company’s stock valued at $30,048,000 after buying an additional 1,246,362 shares in the last quarter. Georgetown University acquired a new position in shares of Range Resources in the 4th quarter valued at $18,832,000. Finally, Voloridge Investment Management LLC raised its stake in shares of Range Resources by 269.4% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,218,786 shares of the oil and gas exploration company’s stock valued at $27,581,000 after buying an additional 888,878 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Range Resources stock opened at $27.07 on Friday. The firm has a market cap of $7.30 billion, a PE ratio of -56.35, a P/E/G ratio of 0.24 and a beta of 1.99. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.25 and a current ratio of 0.25. The firm’s 50 day moving average price is $29.65 and its two-hundred day moving average price is $23.77. Range Resources has a twelve month low of $11.33 and a twelve month high of $34.61.

Range Resources announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 22nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas exploration company to purchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Range Resources Company Profile (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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