Range Resources Co. (NYSE:RRC) to Post FY2022 Earnings of $4.89 Per Share, Jefferies Financial Group Forecasts

Range Resources Co. (NYSE:RRCGet Rating) – Equities researchers at Jefferies Financial Group increased their FY2022 EPS estimates for Range Resources in a research note issued on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now anticipates that the oil and gas exploration company will earn $4.89 per share for the year, up from their previous forecast of $4.88. Jefferies Financial Group currently has a “Hold” rating and a $31.00 target price on the stock. The consensus estimate for Range Resources’ current full-year earnings is $4.88 per share. Jefferies Financial Group also issued estimates for Range Resources’ FY2023 earnings at $2.96 EPS.

Other research analysts have also issued research reports about the company. Susquehanna raised Range Resources from a “neutral” rating to a “positive” rating and set a $38.00 target price for the company in a research report on Wednesday, October 26th. StockNews.com assumed coverage on Range Resources in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Mizuho reissued a “neutral” rating and set a $32.00 price objective (down previously from $38.00) on shares of Range Resources in a research report on Tuesday, January 10th. Stifel Nicolaus started coverage on shares of Range Resources in a research note on Tuesday, October 25th. They set a “buy” rating and a $32.00 target price on the stock. Finally, TD Securities raised shares of Range Resources from a “hold” rating to a “buy” rating and raised their target price for the company from $32.00 to $33.00 in a research note on Thursday, September 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.38.

Range Resources Stock Performance

Shares of RRC stock opened at $26.53 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.41 and a current ratio of 0.41. The company has a market capitalization of $6.41 billion, a P/E ratio of 5.45, a PEG ratio of 0.21 and a beta of 2.11. Range Resources has a fifty-two week low of $16.71 and a fifty-two week high of $37.44. The stock has a 50 day moving average price of $26.42 and a two-hundred day moving average price of $28.45.

Range Resources (NYSE:RRCGet Rating) last posted its earnings results on Monday, October 24th. The oil and gas exploration company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. Range Resources had a net margin of 30.87% and a return on equity of 60.30%. The company’s revenue was up 267.0% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share.

Institutional Investors Weigh In On Range Resources

A number of institutional investors and hedge funds have recently made changes to their positions in RRC. FMR LLC boosted its position in shares of Range Resources by 11.8% during the second quarter. FMR LLC now owns 40,468,710 shares of the oil and gas exploration company’s stock worth $1,001,600,000 after buying an additional 4,261,600 shares during the period. Third Point LLC purchased a new stake in Range Resources during the third quarter worth about $98,514,000. Renaissance Technologies LLC lifted its position in shares of Range Resources by 139.9% during the second quarter. Renaissance Technologies LLC now owns 3,259,583 shares of the oil and gas exploration company’s stock worth $80,675,000 after purchasing an additional 1,901,100 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Range Resources by 72.9% in the third quarter. First Trust Advisors LP now owns 2,693,084 shares of the oil and gas exploration company’s stock valued at $68,027,000 after purchasing an additional 1,135,383 shares during the period. Finally, Amundi boosted its stake in shares of Range Resources by 146.3% in the second quarter. Amundi now owns 1,869,492 shares of the oil and gas exploration company’s stock valued at $49,636,000 after purchasing an additional 1,110,537 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Wednesday, December 14th. Range Resources’s dividend payout ratio (DPR) is presently 6.57%.

About Range Resources

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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.

Further Reading

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