Range Resources Co. (NYSE:RRC – Free Report) – Capital One Financial increased their FY2023 earnings per share estimates for Range Resources in a report released on Thursday, October 26th. Capital One Financial analyst B. Velie now anticipates that the oil and gas exploration company will post earnings per share of $2.21 for the year, up from their prior estimate of $2.20. The consensus estimate for Range Resources’ current full-year earnings is $1.98 per share. Capital One Financial also issued estimates for Range Resources’ Q4 2023 earnings at $0.55 EPS, Q1 2024 earnings at $0.78 EPS, Q2 2024 earnings at $0.80 EPS, Q3 2024 earnings at $0.82 EPS, Q4 2024 earnings at $0.85 EPS and FY2024 earnings at $3.26 EPS.
Other equities research analysts have also issued research reports about the company. Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, September 13th. Raymond James upgraded Range Resources from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Tuesday, October 24th. StockNews.com lowered Range Resources from a “hold” rating to a “sell” rating in a research note on Sunday. Morgan Stanley increased their target price on Range Resources from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Monday, October 2nd. Finally, Susquehanna increased their target price on Range Resources from $42.00 to $43.00 and gave the stock a “positive” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.84.
Range Resources Price Performance
Shares of NYSE RRC opened at $34.71 on Monday. Range Resources has a fifty-two week low of $22.61 and a fifty-two week high of $35.80. The business has a 50 day moving average price of $32.66 and a two-hundred day moving average price of $30.05. The company has a quick ratio of 0.86, a current ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a market cap of $8.38 billion, a PE ratio of 6.22, a price-to-earnings-growth ratio of 0.62 and a beta of 2.09.
Institutional Trading of Range Resources
Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new stake in Range Resources during the 2nd quarter valued at $28,000. Proffitt & Goodson Inc. bought a new stake in Range Resources during the 3rd quarter valued at $32,000. Ameritas Advisory Services LLC bought a new stake in Range Resources during the 1st quarter valued at $42,000. Capital Advisors Ltd. LLC raised its stake in Range Resources by 2,261.9% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,984 shares of the oil and gas exploration company’s stock valued at $58,000 after acquiring an additional 1,900 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Range Resources during the 1st quarter valued at $53,000. Institutional investors own 94.73% of the company’s stock.
Range Resources Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Thursday, September 14th. Range Resources’s dividend payout ratio (DPR) is 5.73%.
About Range Resources
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.
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