Q3 2024 EPS Estimates for Range Resources Co. (NYSE:RRC) Cut by Capital One Financial

Range Resources Co. (NYSE:RRC) – Analysts at Capital One Financial decreased their Q3 2024 earnings per share estimates for Range Resources in a research report issued on Saturday, April 20th. Capital One Financial analyst B. Velie now forecasts that the oil and gas exploration company will post earnings per share of $0.51 for the quarter, down from their prior forecast of $0.52. The consensus estimate for Range Resources’ current full-year earnings is $1.90 per share. Capital One Financial also issued estimates for Range Resources’ Q4 2024 earnings at $0.56 EPS and FY2025 earnings at $4.07 EPS.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. Range Resources’s revenue was down 15.7% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share.

Other analysts also recently issued reports about the company. Mizuho reaffirmed a “buy” rating and set a $39.00 price target on shares of Range Resources in a research report on Thursday, April 11th. Stephens raised their target price on Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Range Resources in a research report on Tuesday, April 9th. Raymond James decreased their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Finally, Barclays assumed coverage on Range Resources in a research report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price for the company. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus target price of $36.40.

Range Resources Stock Performance

Shares of RRC opened at $37.77 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of 10.67 and a beta of 1.83. The stock has a 50 day moving average of $33.52 and a 200 day moving average of $32.37. Range Resources has a 12 month low of $23.92 and a 12 month high of $37.89.

Institutional Investors Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Range Resources during the first quarter valued at $620,000. Louisiana State Employees Retirement System lifted its stake in Range Resources by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 69,400 shares of the oil and gas exploration company’s stock worth $2,389,000 after purchasing an additional 1,600 shares during the last quarter. Confluence Wealth Services Inc. bought a new stake in Range Resources during the first quarter worth about $414,000. Drive Wealth Management LLC lifted its stake in Range Resources by 15.1% during the first quarter. Drive Wealth Management LLC now owns 8,109 shares of the oil and gas exploration company’s stock worth $279,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Outlook Wealth Advisors LLC lifted its stake in Range Resources by 28.8% during the first quarter. Outlook Wealth Advisors LLC now owns 9,181 shares of the oil and gas exploration company’s stock worth $316,000 after purchasing an additional 2,051 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.85%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio is 9.04%.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.