NEW YORK (TheStreet) -- Shares of Range Resources Corp. are higher by 2.95% to $52.75 in late morning trading on Wednesday, after the independent natural gas, natural gas liquids, and oil company reported its 2014 fourth quarter earnings results which came in above what analysts were expecting for the period. For the most recent quarter Range Resources said its non-GAAP adjusted earnings were 39 cents per share on revenue of $872 million. Analysts polled by Thomson Reuters had forecast for earnings of 28 cents per share on revenue of $481 million for the 2014 fourth quarter. Exclusive Report: Jim Cramer's Best Stocks for 2015 Additionally, Range Resources announced that it is planning on cutting its investments in 2015 to $870 million, a decline of 46% when compared to 2014, due to lower commodity prices. The investment reduction will result in Range Resources shutting down its Oklahoma City office and consolidating it with its Fort Worth headquarters. Range is still expecting a 20% year-over-year growth in its production rate. Separately, TheStreet Ratings team rates RANGE RESOURCES CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate RANGE RESOURCES CORP (RRC) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and weak operating cash flow." You can view the full analysis from the report here: RRC Ratings Report RRC data by YCharts
Click to view a price quote on RRC. Click to research the Energy industry.
from Latest TSC Headlines http://ift.tt/1LHDanP
No comments:
Post a Comment