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

Range Resources Co. (NYSE:RRC) – Research analysts at Capital One Financial cut their Q3 2024 EPS estimates for Range Resources in a research note issued on Saturday, April 20th. Capital One Financial analyst B. Velie now anticipates that the oil and gas exploration company will post earnings of $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.

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

Several other equities research analysts have also issued reports on the stock. Susquehanna lifted their price target on shares of Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday. Citigroup boosted their target price on shares of Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Range Resources in a report on Tuesday, April 9th. Morgan Stanley raised their price objective on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Finally, Benchmark cut Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Range Resources has an average rating of “Hold” and an average price target of $35.90.

Range Resources Stock Performance

Range Resources stock opened at $36.12 on Tuesday. The stock has a market cap of $8.74 billion, a PE ratio of 10.20 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources has a 12-month low of $23.92 and a 12-month high of $37.88. The business’s 50-day moving average price is $33.18 and its two-hundred day moving average price is $32.30.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. Range Resources’s dividend payout ratio (DPR) is currently 9.04%.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently modified their holdings of the company. Raleigh Capital Management Inc. acquired a new position in Range Resources in the third quarter valued at $26,000. Benjamin F. Edwards & Company Inc. raised its position in shares of 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 acquiring an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Range Resources in the 3rd quarter valued at about $27,000. Proffitt & Goodson Inc. bought a new stake in shares of Range Resources during the 3rd quarter valued at about $32,000. Finally, Larson Financial Group LLC grew its stake 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 purchasing an additional 900 shares during the period. 98.93% of the stock is owned by institutional investors.

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.