Piper Jaffray Companies Comments on Range Resources Corp.’s FY2018 Earnings (RRC)

Range Resources Corp. (NYSE:RRC) – Equities research analysts at Piper Jaffray Companies increased their FY2018 earnings per share (EPS) estimates for shares of Range Resources in a research report issued on Wednesday, October 24th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas exploration company will post earnings of $1.12 per share for the year, up from their previous forecast of $1.00. Piper Jaffray Companies currently has a “Buy” rating and a $29.00 target price on the stock. Piper Jaffray Companies also issued estimates for Range Resources’ Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.51 EPS, FY2019 earnings at $1.87 EPS, Q1 2020 earnings at $0.74 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.56 EPS and FY2020 earnings at $2.45 EPS.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. The firm had revenue of $811.20 million during the quarter, compared to analysts’ expectations of $747.06 million. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The business’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share.

A number of other research analysts have also weighed in on RRC. TD Securities initiated coverage on shares of Range Resources in a research note on Thursday, July 5th. They issued a “hold” rating and a $18.00 price target on the stock. Capital One Financial raised shares of Range Resources from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 31st. Morgan Stanley cut their price target on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Thursday, August 16th. KLR Group reaffirmed a “buy” rating and issued a $23.00 price target on shares of Range Resources in a research note on Monday, August 20th. Finally, B. Riley raised shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $17.00 to $22.00 in a research note on Thursday, September 20th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Range Resources has a consensus rating of “Hold” and a consensus price target of $22.55.

Shares of NYSE RRC opened at $15.56 on Monday. The company has a market cap of $3.95 billion, a P/E ratio of 26.83, a PEG ratio of 1.13 and a beta of 0.57. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. Range Resources has a 52-week low of $11.93 and a 52-week high of $19.38.

Several hedge funds have recently made changes to their positions in RRC. BlackRock Inc. lifted its position in shares of Range Resources by 26.4% in the second quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock worth $330,575,000 after purchasing an additional 4,132,913 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in shares of Range Resources by 54.6% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock worth $97,541,000 after purchasing an additional 2,058,057 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Range Resources in the second quarter worth $18,499,000. Dimensional Fund Advisors LP lifted its position in shares of Range Resources by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,997,480 shares of the oil and gas exploration company’s stock worth $150,530,000 after purchasing an additional 1,014,157 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Range Resources by 6,602.8% in the third quarter. Bank of Montreal Can now owns 787,040 shares of the oil and gas exploration company’s stock worth $13,372,000 after purchasing an additional 775,298 shares in 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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