Range Resources (RRC) Set to Announce Quarterly Earnings on Monday

Posted by Defense World Staff on Jul 17th, 2023

Range Resources (NYSE:RRC – Get Free Report) will issue its quarterly earnings data after the market closes on Monday, July 24th. Analysts expect the company to announce earnings of $0.24 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Range Resources (NYSE:RRC – Get Free Report) last announced its quarterly earnings results on Monday, April 24th. The oil and gas exploration company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.28. Range Resources had a net margin of 41.18% and a return on equity of 45.55%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $772.38 million. During the same period in the prior year, the company posted $1.18 EPS. The company’s revenue was up 556.4% 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 Down 2.7 %

Range Resources stock opened at $28.33 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average price is $28.19 and its two-hundred day moving average price is $26.37. Range Resources has a 1-year low of $22.61 and a 1-year high of $36.38. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 3.33, a price-to-earnings-growth ratio of 0.51 and a beta of 2.10.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.32 annualized dividend and a yield of 1.13%. Range Resources’s dividend payout ratio is currently 3.76%.

Insider Buying and Selling at Range Resources

In other news, SVP Dori Ginn sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $29.49, for a total transaction of $1,179,600.00. Following the sale, the senior vice president now directly owns 282,738 shares in the company, valued at $8,337,943.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Dori Ginn sold 40,000 shares of Range Resources stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $29.49, for a total transaction of $1,179,600.00. Following the transaction, the senior vice president now owns 282,738 shares in the company, valued at approximately $8,337,943.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dennis Degner sold 99,000 shares of Range Resources stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $27.39, for a total value of $2,711,610.00. Following the completion of the sale, the chief executive officer now directly owns 397,439 shares in the company, valued at approximately $10,885,854.21. The disclosure for this sale can be found here. Insiders have sold a total of 387,044 shares of company stock valued at $10,674,385 in the last 90 days. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

A number of large investors have recently made changes to their positions in RRC. Vontobel Holding Ltd. bought a new stake in shares of Range Resources in the 1st quarter worth approximately $213,000. Journey Strategic Wealth LLC purchased a new position in Range Resources during the first quarter valued at approximately $208,000. Forum Financial Management LP acquired a new position in shares of Range Resources during the first quarter worth $204,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Range Resources during the first quarter valued at $204,000. Finally, Commonwealth Equity Services LLC purchased a new stake in Range Resources in the third quarter valued at $201,000. 88.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of recent research reports. Susquehanna lowered their price objective on shares of Range Resources from $34.00 to $33.00 and set a “positive” rating for the company in a report on Friday, April 21st. StockNews.com started coverage on shares of Range Resources in a report on Thursday, May 18th. They set a “hold” rating for the company. Tudor Pickering raised shares of Range Resources from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, March 21st. Stephens initiated coverage on shares of Range Resources in a research report on Monday, April 24th. They set an “overweight” rating and a $34.00 price objective on the stock. Finally, VNET Group reaffirmed an “upgrade” rating on shares of Range Resources in a research report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.62.

About Range Resources

(Get Free Report)

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. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.