Range Resources (RRC) to Release Quarterly Earnings on Tuesday

Range Resources (NYSE:RRC) is scheduled to post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Range Resources to post earnings of $0.48 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The company had revenue of $941.40 million during the quarter, compared to analysts’ expectations of $672.25 million. During the same quarter in the previous year, the firm earned $1.26 EPS. Range Resources’s revenue was down 42.3% on a year-over-year basis. On average, analysts expect Range Resources to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Range Resources Price Performance

Range Resources stock opened at $35.05 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. Range Resources has a 52 week low of $23.92 and a 52 week high of $37.88. The stock has a market capitalization of $8.49 billion, a P/E ratio of 9.90 and a beta of 1.83. The stock has a fifty day moving average of $32.49 and a 200-day moving average of $32.16.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.91%. Range Resources’s dividend payout ratio (DPR) is currently 9.04%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Stonebridge Capital Advisors LLC raised its stake in shares of Range Resources by 43.8% in the first quarter. Stonebridge Capital Advisors LLC now owns 4,600 shares of the oil and gas exploration company’s stock worth $140,000 after buying an additional 1,400 shares during the period. Advisors Asset Management Inc. grew its position in shares of Range Resources by 31.4% during the fourth quarter. Advisors Asset Management Inc. now owns 5,504 shares of the oil and gas exploration company’s stock worth $138,000 after purchasing an additional 1,316 shares in the last quarter. KBC Group NV purchased a new stake in shares of Range Resources during the fourth quarter worth about $132,000. Sunbelt Securities Inc. purchased a new stake in shares of Range Resources during the first quarter worth about $126,000. Finally, Chilton Capital Management LLC purchased a new stake in shares of Range Resources during the first quarter worth about $119,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Range Resources from $22.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, March 28th. Piper Sandler reduced their price objective on Range Resources from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Stifel Nicolaus reduced their price objective on Range Resources from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. StockNews.com upgraded Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Finally, Citigroup boosted their price objective on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Range Resources has an average rating of “Hold” and an average price target of $35.25.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.