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Range Resources Co. (NYSE:RRC – Get Rating) – Equities research analysts at KeyCorp issued their FY2023 earnings estimates for Range Resources in a research note issued on Wednesday, February 23rd. KeyCorp analyst L. Mariani forecasts that the oil and gas exploration company will earn $2.41 per share for the year. Range Resources (NYSE:RRC – Get Rating) last posted its quarterly earnings data on Monday, February 21st. The oil and gas exploration company reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.02). Range Resources had a negative net margin of 22.48{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and a positive return on equity of 17.74{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $871.99 million. During the same quarter in the previous year, the firm earned $0.02 EPS. Range Resources’s revenue was up 161.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} compared to the same quarter last year.

Several other brokerages have also issued reports on RRC. Morgan Stanley reduced their target price on Range Resources from $26.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 25th. JPMorgan Chase & Co. increased their price objective on Range Resources from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday. Susquehanna Bancshares increased their price objective on Range Resources from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday. Truist Financial cut their price objective on Range Resources from $27.00 to $24.00 in a report on Friday, January 14th. Finally, Zacks Investment Research lowered Range Resources from a “hold” rating to a “sell” rating and set a $19.00 price objective on the stock. in a report on Thursday, January 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $21.50.

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RRC opened at $23.87 on Friday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of -13.04, a PEG ratio of 0.19 and a beta of 2.22. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 2.31. Range Resources has a 12 month low of $8.47 and a 12 month high of $26.48. The stock has a fifty day moving average price of $19.65 and a 200-day moving average price of $19.76.

Range Resources declared that its board has initiated a stock buyback program on Tuesday, February 22nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas exploration company to reacquire up to 9.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC increased its position in shares of Range Resources by 4.0{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,208,601 shares of the oil and gas exploration company’s stock worth $185,761,000 after purchasing an additional 313,811 shares in the last quarter. JPMorgan Chase & Co. increased its position in Range Resources by 223.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 4th quarter. JPMorgan Chase & Co. now owns 6,093,208 shares of the oil and gas exploration company’s stock valued at $108,642,000 after acquiring an additional 4,209,030 shares during the period. Goldman Sachs Group Inc. increased its position in Range Resources by 79.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,877,965 shares of the oil and gas exploration company’s stock valued at $81,755,000 after acquiring an additional 2,166,302 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Range Resources by 0.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,968,245 shares of the oil and gas exploration company’s stock valued at $70,754,000 after acquiring an additional 33,119 shares during the period. Finally, Northern Trust Corp increased its position in Range Resources by 0.3{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 2nd quarter. Northern Trust Corp now owns 3,254,455 shares of the oil and gas exploration company’s stock valued at $54,544,000 after acquiring an additional 9,487 shares during the period. 91.16{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the stock is owned by institutional investors.

Range Resources Company Profile (Get Rating)

Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.

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Severe provide chain disruptions forebode a “brutal winter season” for markets, which could endure from heightened uncertainty if Congress fails to increase the personal debt ceiling very well forward of a December deadline, Citigroup (C) CEO Jane Fraser advised Yahoo Finance at its All Marketplaces Summit on Monday.

She expressed optimism that the source-demand imbalance could pass future yr, but acknowledged that disruptions “could come to be extra sustainable.”

“We are probably in for a bit of a brutal wintertime, specially in the strength marketplaces in which there is certainly also some problems there,” Fraser says. “But it is not extended-time period structural things that we is not going to regulate to.”

“This also shall move,” she provides. “It is really likely to move in all probability in 2022.”

The remarks from Fraser echo the latest sentiment from central bankers and other prime CEOs, who’ve progressively acknowledged that elevated rates will continue to be for the foreseeable long run.

Talking on a panel past month, leaders of the Federal Reserve, the European Central Financial institution, the Lender of England, and the Financial institution of Japan reported that source chain bottlenecks could result in heightened inflation for a prolonged period of time. But they signaled that selling prices would probably occur down as pandemic-associated provide disruptions return to regular.

At the Milken Institute Worldwide Convention last 7 days, Secretary of Commerce Gina Raimondo echoed warnings of a persistent disruption, noting that the worldwide chip lack at the centre of the provide chain bottleneck “is likely to choose a extensive time to resolve.”

The U.S. and Canada each and every recorded inflation past month not seen for far more than a decade. The U.S. claimed a 5.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} increase in consumer rates in September, which amounted to a 13-year substantial for the annual rate meanwhile, Canada noticed selling prices rise 4.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in September as opposed to the exact month a year prior, an 18-12 months high.

“The query is hence does this become some thing additional sustained?” Fraser claims. “We would not know right until upcoming year.”

“I really don’t feel it will come to be a massive problem, but it surely is something that’s heading to be choppy for the subsequent even though,” she adds.

When describing potential forthcoming industry headwinds, Fraser also pointed to the approaching December deadline for Congress to increase the U.S. credit card debt ceiling.

Earlier this month, the Senate arrived at an agreement to raise the personal debt ceiling by $480 billion, which Treasury Secretary Janet Yellen claimed would allow for the U.S. to spend its expenditures by Dec. 3.

In the course of a go to to the White House on Oct. 6, a day just before the Senate settlement, Fraser urged an conclude to the impasse because “we just simply cannot wait right up until the very last minute to resolve this.”

Talking to Yahoo Finance, Fraser reiterated that phone for a fast resolution as the December deadline ways. The transfer would avert added uncertainty amid an already murky close to-term fiscal long run with persistent inflation, she claimed.

“We have stopped hearing folks expressing ‘transition’ or ‘transitory’ for the reason that it’s emotion a tad more time than that,” she states.

“It won’t be helped if the U.S. personal debt ceiling situation would not get resolved on a much more timely foundation right before December,” she provides.

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Citigroup CEO Jane Fraser forecasts ‘brutal winter’ for markets