Q2 2024 EPS Estimates for Range Resources Co. Lifted by Analyst (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Equities researchers at Capital One Financial lifted their Q2 2024 earnings per share (EPS) estimates for shares of Range Resources in a report released on Tuesday, April 16th. Capital One Financial analyst B. Velie now anticipates that the oil and gas exploration company will post earnings per share of $0.53 for the quarter, up from their previous estimate of $0.52. The consensus estimate for Range Resources’ current full-year earnings is $1.91 per share. Capital One Financial also issued estimates for Range Resources’ FY2025 earnings at $4.06 EPS.

Several other brokerages have also weighed in on RRC. Stifel Nicolaus decreased their price objective on Range Resources from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Piper Sandler cut their target price on Range Resources from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Citigroup raised their target price on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Barclays assumed coverage on Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price for the company. Finally, Raymond James cut their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Five research 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. According to MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average target price of $35.75.

Range Resources Trading Down 0.7 %

Shares of RRC opened at $34.72 on Thursday. The business has a 50-day moving average of $32.76 and a 200 day moving average of $32.20. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $37.88. The firm has a market cap of $8.41 billion, a P/E ratio of 9.81 and a beta of 1.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The company had revenue of $941.40 million during the quarter, compared to analyst estimates of $672.25 million. During the same quarter last year, the firm posted $1.26 EPS. The firm’s revenue for the quarter was down 42.3% on a year-over-year basis.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. Range Resources’s payout ratio is 9.04%.

Institutional Trading of Range Resources

Hedge funds have recently bought and sold shares of the company. Raleigh Capital Management Inc. bought a new stake in Range Resources in the 3rd quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in Range Resources in the 3rd quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. lifted its position in Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 666 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Range Resources in the 2nd quarter worth approximately $28,000. Finally, Proffitt & Goodson Inc. bought a new stake in Range Resources in the 3rd quarter worth approximately $32,000. Institutional investors own 98.93% of the company’s stock.

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.