Range Resources Co. (NYSE:RRC) Expected to Announce Quarterly Sales of $986.04 Million

Equities research analysts expect Range Resources Co. (NYSE:RRCGet Rating) to announce sales of $986.04 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Range Resources’ earnings. The lowest sales estimate is $790.90 million and the highest is $1.33 billion. Range Resources reported sales of $434.72 million in the same quarter last year, which would suggest a positive year over year growth rate of 126.8%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Range Resources will report full-year sales of $3.90 billion for the current fiscal year, with estimates ranging from $2.45 billion to $5.46 billion. For the next fiscal year, analysts expect that the business will report sales of $3.89 billion, with estimates ranging from $3.07 billion to $4.54 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Range Resources.

Range Resources (NYSE:RRCGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The oil and gas exploration company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Range Resources had a negative net margin of 2.90% and a positive return on equity of 45.50%. The business had revenue of $986.66 million for the quarter, compared to analyst estimates of $955.47 million. During the same quarter last year, the firm earned $0.30 EPS.

Several brokerages recently issued reports on RRC. TD Securities reduced their price target on shares of Range Resources from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, April 27th. StockNews.com began coverage on Range Resources in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Truist Financial boosted their target price on Range Resources from $33.00 to $37.00 in a report on Thursday, April 21st. JPMorgan Chase & Co. lifted their price target on Range Resources from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, February 24th. Finally, Morgan Stanley upped their price target on shares of Range Resources from $25.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.00.

In other news, SVP David P. Poole sold 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $32.67, for a total transaction of $2,776,950.00. Following the sale, the senior vice president now directly owns 753,577 shares of the company’s stock, valued at approximately $24,619,360.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dori Ginn sold 10,000 shares of the firm’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $32.60, for a total transaction of $326,000.00. Following the completion of the transaction, the senior vice president now directly owns 75,098 shares of the company’s stock, valued at $2,448,194.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,500 shares of company stock worth $5,669,875. Company insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Confluence Wealth Services Inc. purchased a new stake in shares of Range Resources in the fourth quarter valued at $35,000. Quent Capital LLC purchased a new position in shares of Range Resources during the first quarter valued at approximately $37,000. Exchange Traded Concepts LLC grew its stake in shares of Range Resources by 385.3% during the first quarter. Exchange Traded Concepts LLC now owns 1,485 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 1,179 shares during the last quarter. Crestmont Private Wealth LLC bought a new stake in shares of Range Resources during the 4th quarter worth approximately $53,000. Finally, Stonebridge Capital Advisors LLC purchased a new position in Range Resources during the 4th quarter valued at $57,000. 90.05% of the stock is currently owned by institutional investors.

NYSE:RRC opened at $35.00 on Friday. The company has a 50-day moving average price of $31.01 and a 200-day moving average price of $24.57. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of -72.92, a P/E/G ratio of 0.30 and a beta of 1.98. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.14. Range Resources has a 12 month low of $12.37 and a 12 month high of $37.12.

Range Resources announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 22nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the oil and gas exploration company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Range Resources Company Profile (Get Rating)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

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