Range Resources (RRC) Scheduled to Post Quarterly Earnings on Tuesday

Range Resources (NYSE:RRC) is set to issue its quarterly earnings data after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.48 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The business had revenue of $941.40 million for the quarter, compared to the consensus estimate of $672.25 million. During the same period in the prior year, the business earned $1.26 earnings per share. The business’s revenue was down 42.3% on a year-over-year basis. On average, analysts expect Range Resources to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Range Resources Stock Up 1.4 %

Shares of NYSE:RRC opened at $35.27 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources has a 52-week low of $23.92 and a 52-week high of $37.88. The stock’s fifty day simple moving average is $33.03 and its 200-day simple moving average is $32.26. The company has a market capitalization of $8.54 billion, a P/E ratio of 9.96 and a beta of 1.83.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.91%. Range Resources’s payout ratio is currently 9.04%.

Analysts Set New Price Targets

Several research firms recently commented on RRC. Raymond James dropped their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Truist Financial dropped their target price on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Piper Sandler upped their target price on Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley upped their target price on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus dropped their target price on Range Resources from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.80.

Institutional Investors Weigh In On Range Resources

A number of large investors have recently modified their holdings of RRC. Raymond James & Associates grew its stake in shares of Range Resources by 12.4% in the first quarter. Raymond James & Associates now owns 45,351 shares of the oil and gas exploration company’s stock valued at $1,378,000 after buying an additional 4,987 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Range Resources by 31.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 35,865 shares of the oil and gas exploration company’s stock valued at $1,090,000 after purchasing an additional 8,648 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Range Resources in the first quarter valued at about $213,000. Lord Abbett & CO. LLC purchased a new position in Range Resources in the first quarter valued at about $7,059,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Range Resources by 1,102.7% in the first quarter. Canada Pension Plan Investment Board now owns 151,710 shares of the oil and gas exploration company’s stock valued at $4,609,000 after purchasing an additional 139,096 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.