Range Resources Corp. (RRC) Releases Earnings Results, Beats Expectations By $0.09 EPS

Range Resources Corp. (RRC) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-0.19. The company posted revenue of $331.40 million in the period, compared to analysts expectations of $319.11 million. The company’s revenue was down -28.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Range Resources Corp.. Range Resources Corp. was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Apr 26, 2016. Range Resources Corp. was Downgraded by Tudor Pickering to ” Hold” on Apr 15, 2016. Shares were Downgraded by Barclays on Mar 24, 2016 to ” Underweight” and Lowered the Price Target to $ 24 from a previous price target of $27 .

Range Resources Corp. opened for trading at $39.92 and hit $42.09 on the upside on Wednesday, eventually ending the session at $41.88, with a gain of 5.41% or 2.15 points. The heightened volatility saw the trading volume jump to 52,06,488 shares. Company has a market cap of $7,102 M.

In a different news, on Mar 11, 2016, Jeffrey L Ventura (President and CEO) sold 7,044 shares at $31.11 per share price. According to the SEC, on Feb 3, 2016, Chad L Stephens (Sr. Vice President) sold 25,199 shares at $27.18 per share price. On Jan 11, 2016, Roger S Manny (Exec VP and CFO) sold 633 shares at $25.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Range Resources Corporation (Range) is an independent natural gas natural gas liquids (NGLs) and oil company. The Company is engaged in the engaged in the exploration development and acquisition of natural gas and oil properties mostly in the Appalachian and Midcontinent regions of the United States. The Company’s properties consist of interests in developed and undeveloped natural gas and oil leases in these regions. These interests are mostly in the form of working interests and to a lesser extent royalty and overriding royalty interests. The Company’s activities in the Midcontinent region include drilling production and field operations in the Texas Panhandle as well as in the Anadarko Basin of western Oklahoma the Nemaha Uplift of northern Oklahoma and Kansas the Permian Basin of West Texas and Mississippi.

Range Resources Corp.

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