Range Resources Co. (NYSE: CRR – Get a rating) – Capital One Financial investment analysts lowered their third quarter 2022 earnings per share estimates for Range Resources in a note to investors on Wednesday, April 27. Capital One Financial analyst B. Velie now expects the oil and gas exploration company to post earnings per share of $1.00 for the quarter, down from its previous forecast of $1.01. . Capital One Financial also released estimates for Range Resources’ fourth quarter 2022 earnings at $1.08 EPS, fiscal year 2022 earnings at $4.48 EPS and fiscal year 2023 earnings at $5.40. $EPS.
RRC has been the subject of a number of other reports. Zacks Investment Research reduce Range Resources from a “hold” rating to a “sell” rating and set a price target of $19.00 for the stock. in a research note on Thursday, January 6. Morgan Stanley raised its price target on Range Resources from $25.00 to $32.00 and gave the company an “underweight” rating in a Friday, April 22 research note. Susquehanna raised its price target on Range Resources from $24.00 to $34.00 in a research note on Monday. Benchmark raised its price target on Range Resources from $33.00 to $43.00 in a Monday, April 11 research note. Finally, Mizuho raised its price target on Range Resources from $24.00 to $42.00 and gave the company a “neutral” rating in a Friday, April 8 research note. Two analysts gave the stock a sell rating, eleven gave the company a hold rating and eight gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.21.
NYSE: CRR opened at $30.99 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt ratio of 1.30. The stock’s fifty-day moving average is $28.50 and its two-hundred-day moving average is $23.41. Range Resources has a 52-week low of $9.50 and a 52-week high of $34.61. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 20.80, a growth price-to-earnings ratio of 0.27 and a beta of 2.12.
Range resources (NYSE: CRR – Get a rating) last released its quarterly results on Tuesday, April 26. The oil and gas exploration company reported EPS of $1.18 for the quarter, beating analyst consensus estimates of $1.08 by $0.10. Range Resources had a return on equity of 31.21% and a net margin of 14.05%. In the same quarter of the previous year, the company achieved EPS of $0.30.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. O Shaughnessy Asset Management LLC bought a new position in shares of Range Resources during the third quarter worth approximately $25,000. Exchange Traded Concepts LLC increased its holdings of Range Resources shares by 385.3% in the first quarter. Exchange Traded Concepts LLC now owns 1,485 shares of the oil and gas exploration company worth $45,000 after buying 1,179 additional shares in the last quarter. Confluence Wealth Services Inc. bought a new stock position in Range Resources during the fourth quarter for a value of approximately $35,000. Crestmont Private Wealth LLC purchased a new stock position in Range Resources during the fourth quarter for a value of approximately $53,000. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Range Resources during the fourth quarter worth approximately $57,000. 91.40% of the shares are currently held by hedge funds and other institutional investors.
In other Range Resources news, SVP Dori Ginn sold 10,000 shares of the company in a trade dated Friday, April 8. The stock was sold at an average price of $32.60, for a total transaction of $326,000.00. Following the transaction, the senior vice president now owns 75,098 shares of the company, valued at $2,448,194.80. The sale was disclosed in a filing with the SEC, accessible via the SEC website. Insiders of the company own 1.10% of the shares of the company.
Range Resources said its board launched a share buyback program on Tuesday, February 22 that allows the company to repurchase $500.00 million of outstanding shares. This repurchase authorization authorizes the oil and gas exploration company to repurchase up to 9.6% of its shares through open market purchases. Stock buyback programs usually indicate that the management of the company believes that its stock is undervalued.
About Range Resources (Get a rating)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGL) and petroleum company in the United States. The Company is engaged in the exploration, development and acquisition of oil and gas properties. As of December 31, 2021, the Company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the Northeastern United States.
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