Jefferies Group Equities Analysts Boost Earnings Estimates for Range Resources Corporation (RRC)

Range Resources Corporation (NYSE:RRC) – Equities research analysts at Jefferies Group raised their Q1 2019 earnings estimates for shares of Range Resources in a report issued on Wednesday. Jefferies Group analyst M. Lear now anticipates that the oil and gas exploration company will post earnings per share of $0.33 for the quarter, up from their prior estimate of $0.25. Jefferies Group currently has a “Buy” rating and a $25.00 price target on the stock. Jefferies Group also issued estimates for Range Resources’ Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.20 EPS and FY2019 earnings at $0.96 EPS.

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

Several other analysts have also recently issued reports on RRC. SunTrust Banks reaffirmed a “hold” rating and issued a $20.00 price target on shares of Range Resources in a report on Friday, December 8th. Credit Suisse Group began coverage on shares of Range Resources in a report on Monday, December 11th. They issued an “outperform” rating and a $24.00 price target on the stock. Scotiabank reaffirmed a “buy” rating and issued a $30.00 price target on shares of Range Resources in a report on Monday, October 9th. Piper Jaffray Companies cut their price target on shares of Range Resources from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Finally, Stifel Nicolaus set a $21.00 price target on shares of Range Resources and gave the company a “buy” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.23.

Range Resources (NYSE:RRC) traded down $0.04 on Friday, reaching $16.46. 4,434,774 shares of the company traded hands, compared to its average volume of 5,978,306. The firm has a market capitalization of $3,923.08, a PE ratio of 43.92 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. Range Resources has a 1 year low of $15.33 and a 1 year high of $36.40.

Large investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position 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 purchasing an additional 990 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Range Resources by 1.3% in the second 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. boosted its holdings in shares of Range Resources by 166.2% in the second 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 boosted its holdings in shares of Range Resources by 5.6% in the second 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. boosted its holdings in shares of Range Resources by 240.4% in the second 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. Institutional investors own 95.29% of the company’s stock.

In other news, Director Anthony V. Dub sold 2,897 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $16.06, for a total transaction of $46,525.82. Following the completion of the transaction, the director now owns 96,000 shares in the company, valued at approximately $1,541,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP David P. Poole sold 30,920 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total transaction of $505,851.20. Following the transaction, the vice president now owns 17,647 shares of the company’s stock, valued at approximately $288,704.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,574 shares of company stock valued at $729,007. Insiders own 2.40% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.49%. Range Resources’s dividend payout ratio (DPR) is -38.09%.

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Range Resources Company Profile

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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