Range Resources Corp. Expected to Post FY2020 Earnings of ($0.18) Per Share (NYSE:RRC)

Range Resources Corp. (NYSE:RRC) – Piper Sandler decreased their FY2020 earnings per share estimates for Range Resources in a report released on Tuesday, July 21st. Piper Sandler analyst K. Harrison now forecasts that the oil and gas exploration company will post earnings of ($0.18) per share for the year, down from their prior forecast of ($0.17). Piper Sandler currently has a “Neutral” rating and a $4.50 target price on the stock. Piper Sandler also issued estimates for Range Resources’ Q2 2021 earnings at ($0.06) EPS.

Range Resources (NYSE:RRC) last released its earnings results on Thursday, April 30th. The oil and gas exploration company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. Range Resources had a negative net margin of 56.71% and a positive return on equity of 0.50%. The firm had revenue of $693.90 million during the quarter, compared to analyst estimates of $608.45 million. During the same period last year, the business earned $0.36 earnings per share. The business’s revenue was down 7.2% on a year-over-year basis.

A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price objective on shares of Range Resources from $2.50 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Mizuho assumed coverage on shares of Range Resources in a research note on Wednesday. They set a “neutral” rating and a $5.50 target price for the company. Stifel Nicolaus boosted their target price on shares of Range Resources from $3.00 to $3.50 and gave the company a “hold” rating in a research note on Monday, April 20th. MKM Partners upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.00 to $9.00 in a research note on Thursday, July 9th. Finally, SunTrust Banks boosted their target price on shares of Range Resources from $3.00 to $5.00 and gave the company a “hold” rating in a research note on Friday, April 24th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.62.

Shares of NYSE RRC opened at $6.73 on Thursday. Range Resources has a twelve month low of $1.61 and a twelve month high of $8.25. The firm has a market cap of $1.72 billion, a P/E ratio of -1.06 and a beta of 2.66. The company has a 50 day moving average of $6.36 and a 200 day moving average of $4.59. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Several hedge funds and other institutional investors have recently made changes to their positions in RRC. Victory Capital Management Inc. raised its position in shares of Range Resources by 30.7% during the 4th quarter. Victory Capital Management Inc. now owns 45,523 shares of the oil and gas exploration company’s stock valued at $221,000 after buying an additional 10,702 shares in the last quarter. Raymond James & Associates raised its position in Range Resources by 34.3% in the 4th quarter. Raymond James & Associates now owns 238,127 shares of the oil and gas exploration company’s stock worth $1,155,000 after purchasing an additional 60,810 shares during the period. Amalgamated Bank raised its position in Range Resources by 10.8% in the 4th quarter. Amalgamated Bank now owns 46,423 shares of the oil and gas exploration company’s stock worth $225,000 after purchasing an additional 4,509 shares during the period. Bank of New York Mellon Corp raised its position in Range Resources by 67.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,544,099 shares of the oil and gas exploration company’s stock worth $22,040,000 after purchasing an additional 1,833,958 shares during the period. Finally, Bank of America Corp DE raised its position in Range Resources by 34.4% in the 4th quarter. Bank of America Corp DE now owns 5,467,591 shares of the oil and gas exploration company’s stock worth $26,517,000 after purchasing an additional 1,398,765 shares during the period.

Range Resources Company Profile

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

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