Q2 2024 Earnings Forecast for Range Resources Co. (NYSE:RRC) Issued By Capital One Financial

Range Resources Co. (NYSE:RRC) – Analysts at Capital One Financial upped their Q2 2024 earnings per share estimates for Range Resources in a report released on Tuesday, April 16th. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will earn $0.53 per share for the quarter, up from their prior forecast 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.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $672.25 million. During the same period last year, the company earned $1.26 earnings per share. The firm’s revenue was down 42.3% compared to the same quarter last year.

Several other equities research analysts have also recently weighed in on RRC. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and increased their price objective for the stock from $40.00 to $45.00 in a research report on Thursday, April 11th. Raymond James decreased their price target on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. StockNews.com raised Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Piper Sandler decreased 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. Finally, Truist Financial dropped their price target on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.75.

Range Resources Stock Up 0.2 %

Range Resources stock opened at $34.78 on Thursday. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 9.82 and a beta of 1.83. Range Resources has a 52-week low of $23.92 and a 52-week high of $37.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a 50 day moving average price of $32.89 and a two-hundred day moving average price of $32.21.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued 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 dividend yield of 0.92%. Range Resources’s dividend payout ratio is presently 9.04%.

Hedge Funds Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. purchased a new stake in shares of Range Resources in the third quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. lifted its stake in Range Resources by 333.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Range Resources in the third quarter valued at about $27,000. Lazard Asset Management LLC bought a new position in shares of Range Resources during the second quarter valued at about $28,000. Finally, Proffitt & Goodson Inc. purchased a new position in Range Resources during the third quarter worth about $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.