Q4 2018 EPS Estimates for Range Resources Corp. (RRC) Lifted by Analyst

Range Resources Corp. (NYSE:RRC) – Equities researchers at Piper Jaffray Companies raised their Q4 2018 EPS estimates for Range Resources in a research note issued on Tuesday, October 23rd. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas exploration company will post earnings of $0.26 per share for the quarter, up from their prior estimate of $0.16. Piper Jaffray Companies currently has a “Buy” rating and a $29.00 target price on the stock. Piper Jaffray Companies also issued estimates for Range Resources’ Q1 2019 earnings at $0.50 EPS, Q2 2019 earnings at $0.43 EPS, FY2019 earnings at $2.01 EPS and FY2020 earnings at $2.53 EPS.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. Range Resources had a net margin of 2.46% and a return on equity of 4.00%. The firm had revenue of $811.20 million for the quarter, compared to the consensus estimate of $747.06 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The company’s quarterly revenue was up 68.2% compared to the same quarter last year.



Several other equities analysts also recently commented on the stock. Guggenheim reissued a “buy” rating and issued a $22.00 target price on shares of Range Resources in a report on Wednesday. TD Securities boosted their target price on shares of Range Resources from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday. B. Riley boosted their target price on shares of Range Resources from $22.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, October 18th. Morgan Stanley set a $18.00 target price on shares of Range Resources and gave the stock a “sell” rating in a report on Friday, October 12th. Finally, Macquarie set a $18.00 target price on shares of Range Resources and gave the stock a “hold” rating in a report on Wednesday, September 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $22.60.

RRC stock opened at $15.84 on Thursday. Range Resources has a one year low of $11.93 and a one year high of $19.38. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $4.17 billion, a PE ratio of 27.31, a P/E/G ratio of 1.39 and a beta of 0.57.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.51%. The ex-dividend date was Thursday, September 13th. Range Resources’s dividend payout ratio is presently 13.79%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. St. Johns Investment Management Company LLC bought a new stake in Range Resources in the second quarter worth $100,000. Palo Capital Inc. bought a new stake in Range Resources in the third quarter worth $198,000. Nisa Investment Advisors LLC increased its position in Range Resources by 47.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock worth $199,000 after purchasing an additional 3,750 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Range Resources in the second quarter worth $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Range Resources in the second quarter worth $212,000.

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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