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

Range Resources Co. (NYSE:RRC) – Analysts at Capital One Financial decreased their Q3 2024 earnings per share estimates for shares of Range Resources in a research report issued on Saturday, April 20th. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will earn $0.51 per share for the quarter, down from their previous forecast of $0.52. The consensus estimate for Range Resources’ current full-year earnings is $1.94 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.

RRC has been the topic of a number of other research reports. Citigroup increased their price objective on Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Morgan Stanley upped their target price on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. 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, Mizuho reissued a “buy” rating and issued a $39.00 target price on shares of Range Resources in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.00.

Range Resources Trading Up 1.3 %

RRC opened at $36.59 on Tuesday. Range Resources has a one year low of $23.92 and a one year high of $37.88. The company has a market cap of $8.86 billion, a P/E ratio of 10.33 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. The business’s 50-day simple moving average is $33.34 and its 200-day simple moving average is $32.33.

Range Resources (NYSE:RRC) last released its quarterly earnings data 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. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The business had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the business posted $0.96 EPS. The business’s revenue for the quarter was down 15.7% on a year-over-year basis.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 annualized dividend and a dividend yield of 0.87%. Range Resources’s dividend payout ratio is currently 9.04%.

Institutional Trading of Range Resources

Several hedge funds have recently modified their holdings of RRC. Raleigh Capital Management Inc. purchased a new position in Range Resources in the 3rd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. increased its stake 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 valued at $26,000 after purchasing an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in Range Resources in the 3rd quarter valued at approximately $27,000. Proffitt & Goodson Inc. purchased a new position in Range Resources during the third quarter worth $32,000. Finally, Larson Financial Group LLC increased its position in Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after buying an additional 900 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

About Range Resources

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.