Analysts Offer Predictions for Range Resources Corporation’s Q2 2018 Earnings (RRC)

Range Resources Corporation (NYSE:RRC) – Analysts at SunTrust Banks issued their Q2 2018 earnings per share estimates for Range Resources in a research report issued to clients and investors on Thursday. SunTrust Banks analyst N. Dingmann forecasts that the oil and gas exploration company will post earnings of ($0.08) per share for the quarter. SunTrust Banks currently has a “Hold” rating and a $20.00 target price on the stock. SunTrust Banks also issued estimates for Range Resources’ Q4 2018 earnings at ($0.06) EPS.

Several other research analysts have also recently commented on RRC. Goldman Sachs Group cut Range Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $20.50 in a research report on Friday, September 8th. Jefferies Group set a $36.00 price target on Range Resources and gave the company a “buy” rating in a research report on Tuesday, August 29th. Zacks Investment Research raised Range Resources from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Friday, October 20th. Morgan Stanley reduced their price target on Range Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $32.00 price target on shares of Range Resources in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $30.98.

Range Resources (RRC) traded down $0.35 during mid-day trading on Monday, hitting $16.35. The stock had a trading volume of 7,860,700 shares, compared to its average volume of 5,914,303. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $4,143.93, a PE ratio of 46.39 and a beta of 0.91. Range Resources has a 52 week low of $15.91 and a 52 week high of $36.89.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $482.20 million during the quarter, compared to the consensus estimate of $543.16 million. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) earnings per share.

Hedge funds have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Range Resources by 26.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock valued at $110,000 after acquiring an additional 990 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Range Resources by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock worth $117,000 after buying an additional 64 shares during the period. Capstone Investment Advisors Netherlands B.V. lifted its holdings in Range Resources by 166.2% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,088 shares of the oil and gas exploration company’s stock worth $141,000 after buying an additional 3,801 shares during the period. Stephens Inc. AR lifted its holdings in Range Resources by 5.6% during the 2nd quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock worth $179,000 after buying an additional 412 shares during the period. Finally, Westwood Holdings Group Inc. lifted its holdings in Range Resources by 240.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock worth $205,000 after buying an additional 6,250 shares during the period. 95.72% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Thursday, December 14th. Range Resources’s dividend payout ratio is presently -38.09%.

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About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

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

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