Range Resources Corp. (NYSE:RRC) Expected to Post Quarterly Sales of $498.84 Million

Equities research analysts expect Range Resources Corp. (NYSE:RRC) to report sales of $498.84 million for the current quarter, Zacks reports. Six analysts have made estimates for Range Resources’ earnings, with estimates ranging from $441.61 million to $553.34 million. Range Resources reported sales of $622.45 million during the same quarter last year, which would suggest a negative year over year growth rate of 19.9%. The firm is scheduled to report its next quarterly earnings report on Wednesday, October 28th.

On average, analysts expect that Range Resources will report full year sales of $2.08 billion for the current fiscal year, with estimates ranging from $1.91 billion to $2.19 billion. For the next financial year, analysts expect that the business will report sales of $2.18 billion, with estimates ranging from $2.02 billion to $2.34 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Range Resources.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas exploration company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. Range Resources had a negative return on equity of 0.43% and a negative net margin of 79.81%. The business had revenue of $376.55 million during the quarter, compared to analysts’ expectations of $492.64 million. During the same quarter in the previous year, the business posted $0.02 EPS. The firm’s quarterly revenue was down 55.8% compared to the same quarter last year.

A number of research firms have recently commented on RRC. Mizuho began coverage on Range Resources in a report on Wednesday, July 22nd. They issued a “neutral” rating and a $5.50 price target for the company. Morgan Stanley raised their price target on Range Resources from $4.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, August 21st. Piper Sandler raised their price target on Range Resources from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Northland Securities began coverage on Range Resources in a report on Monday, September 14th. They issued an “outperform” rating and a $14.00 price target for the company. Finally, UBS Group raised their price target on Range Resources from $2.30 to $6.00 and gave the stock a “neutral” rating in a report on Monday, June 29th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.87.

NYSE RRC traded up $0.11 on Wednesday, hitting $7.49. 5,780,559 shares of the stock traded hands, compared to its average volume of 10,622,642. The business’s fifty day moving average is $7.77 and its two-hundred day moving average is $5.84. Range Resources has a 12 month low of $1.61 and a 12 month high of $9.37. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -1.01 and a beta of 2.81. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.63 and a current ratio of 0.63.

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Range Resources by 26.4% in the 1st quarter. State Street Corp now owns 30,400,378 shares of the oil and gas exploration company’s stock worth $69,313,000 after purchasing an additional 6,345,693 shares in the last quarter. Vanguard Group Inc. boosted its position in Range Resources by 4.5% during the second quarter. Vanguard Group Inc. now owns 25,933,294 shares of the oil and gas exploration company’s stock worth $146,004,000 after acquiring an additional 1,105,999 shares during the last quarter. Kopernik Global Investors LLC boosted its position in Range Resources by 5.2% during the first quarter. Kopernik Global Investors LLC now owns 12,460,634 shares of the oil and gas exploration company’s stock worth $28,410,000 after acquiring an additional 613,675 shares during the last quarter. Ninety One UK Ltd acquired a new position in Range Resources during the second quarter worth about $45,546,000. Finally, Nuveen Asset Management LLC boosted its position in Range Resources by 160.8% during the first quarter. Nuveen Asset Management LLC now owns 8,570,838 shares of the oil and gas exploration company’s stock worth $19,542,000 after acquiring an additional 5,284,485 shares during the last quarter.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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

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