Capital One Financial Comments on Range Resources Co.’s FY2022 Earnings (NYSE:RRC)

Range Resources Co. (NYSE:RRCGet Rating) – Investment analysts at Capital One Financial lowered their FY2022 EPS estimates for shares of Range Resources in a research note issued on Thursday, January 19th. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will post earnings of $4.78 per share for the year, down from their prior forecast of $5.00. The consensus estimate for Range Resources’ current full-year earnings is $4.88 per share. Capital One Financial also issued estimates for Range Resources’ Q4 2022 earnings at $1.08 EPS, Q1 2023 earnings at $0.96 EPS, Q2 2023 earnings at $0.95 EPS and FY2023 earnings at $3.92 EPS.

Range Resources (NYSE:RRCGet Rating) last issued its quarterly earnings results on Monday, October 24th. The oil and gas exploration company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Range Resources had a return on equity of 60.30% and a net margin of 30.87%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The business’s quarterly revenue was up 267.0% on a year-over-year basis.

A number of other brokerages have also recently issued reports on RRC. Morgan Stanley reduced their price objective on shares of Range Resources to $26.00 in a research note on Wednesday, December 14th. Stifel Nicolaus started coverage on Range Resources in a report on Tuesday, October 25th. They set a “buy” rating and a $32.00 price target on the stock. Mizuho reaffirmed a “neutral” rating and issued a $32.00 price objective (down previously from $38.00) on shares of Range Resources in a research note on Tuesday, January 10th. Credit Suisse Group cut their target price on Range Resources from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, October 25th. Finally, JPMorgan Chase & Co. dropped their price target on Range Resources from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, September 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.38.

Range Resources Price Performance

NYSE RRC opened at $26.53 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.85. Range Resources has a 12 month low of $16.71 and a 12 month high of $37.44. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 0.21 and a beta of 2.11. The company’s 50 day moving average is $26.42 and its two-hundred day moving average is $28.45.

Hedge Funds Weigh In On Range Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC lifted its holdings in shares of Range Resources by 64.9% in the 2nd quarter. CWM LLC now owns 1,194 shares of the oil and gas exploration company’s stock valued at $30,000 after acquiring an additional 470 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of Range Resources by 75.6% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,187 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 511 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Range Resources by 34.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,994 shares of the oil and gas exploration company’s stock valued at $49,000 after purchasing an additional 509 shares during the last quarter. Tobam purchased a new stake in Range Resources during the 3rd quarter valued at $53,000. Finally, IFP Advisors Inc lifted its position in Range Resources by 43.4% in the third quarter. IFP Advisors Inc now owns 3,444 shares of the oil and gas exploration company’s stock worth $69,000 after buying an additional 1,042 shares during the last quarter. 87.32% of the stock is owned by hedge funds and other institutional investors.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.32 annualized dividend and a yield of 1.21%. Range Resources’s dividend payout ratio (DPR) is currently 6.57%.

About Range Resources

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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. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

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