Range Resources Corp. Forecasted to Earn FY2019 Earnings of $1.94 Per Share (RRC)

Range Resources Corp. (NYSE:RRC) – B. Riley dropped their FY2019 EPS estimates for shares of Range Resources in a report released on Tuesday, November 6th. B. Riley analyst R. Rashid now forecasts that the oil and gas exploration company will post earnings per share of $1.94 for the year, down from their previous forecast of $2.23. B. Riley has a “Buy” rating and a $29.00 price objective on the stock. B. Riley also issued estimates for Range Resources’ Q4 2019 earnings at $0.55 EPS.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The firm had revenue of $811.20 million during the quarter, compared to analyst estimates of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. Range Resources’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 earnings per share.

Other analysts have also issued research reports about the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $27.00 price target on shares of Range Resources in a report on Friday, July 20th. Morgan Stanley set a $18.00 price target on Range Resources and gave the company a “sell” rating in a report on Friday, October 12th. Guggenheim reiterated a “buy” rating and issued a $22.00 price target on shares of Range Resources in a report on Wednesday, October 24th. Macquarie set a $18.00 price target on Range Resources and gave the company a “hold” rating in a report on Wednesday, September 26th. Finally, TD Securities lowered their price target on Range Resources from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.55.

Shares of NYSE RRC opened at $17.06 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $4.34 billion, a P/E ratio of 29.41, a PEG ratio of 1.23 and a beta of 0.58. Range Resources has a 52-week low of $11.93 and a 52-week high of $19.38.

Large investors have recently modified their holdings of the stock. St. Johns Investment Management Company LLC acquired a new position in shares of Range Resources during the second quarter worth $100,000. Penserra Capital Management LLC increased its position in shares of Range Resources by 94.9% during the third quarter. Penserra Capital Management LLC now owns 9,860 shares of the oil and gas exploration company’s stock worth $166,000 after purchasing an additional 4,800 shares in the last quarter. Palo Capital Inc. acquired a new position in shares of Range Resources during the third quarter worth $198,000. Nisa Investment Advisors LLC increased its position in shares of Range Resources by 47.0% during 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 in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Range Resources during the second quarter worth $207,000.

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.

Further Reading: Price to Earnings Ratio (PE) Basics

Earnings History and Estimates for Range Resources (NYSE:RRC)

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