Range Resources Corp. (NYSE:RRC) posted its quarterly earnings results on Monday. The oil and gas exploration company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.06. Range Resources Corp. had a negative return on equity of 13.00% and a negative net margin of 54.13%. The firm had revenue of $607 million during the quarter, compared to analysts’ expectations of $585.45 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The company’s revenue was up 83.2% on a year-over-year basis.
Shares of Range Resources Corp. (NYSE:RRC) opened at 25.09 on Wednesday. Range Resources Corp. has a 12 month low of $24.67 and a 12 month high of $46.96. The firm has a 50-day moving average price of $26.93 and a 200-day moving average price of $31.05. The stock’s market cap is $6.11 billion.
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Several research firms have recently weighed in on RRC. Jefferies Group LLC set a $43.00 price target on Range Resources Corp. and gave the stock a “buy” rating in a research note on Saturday, March 4th. ValuEngine upgraded Range Resources Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Barclays PLC reiterated a “sell” rating and set a $28.00 price objective on shares of Range Resources Corp. in a research report on Thursday, April 27th. Zacks Investment Research raised Range Resources Corp. from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a report on Saturday, March 25th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Range Resources Corp. in a report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Range Resources Corp. has a consensus rating of “Buy” and an average target price of $45.25.
In related news, Director Christopher A. Helms purchased 4,000 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were bought at an average price of $27.46 per share, for a total transaction of $109,840.00. Following the acquisition, the director now directly owns 15,931 shares in the company, valued at $437,465.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is owned by company insiders.
About Range Resources Corp.
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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