Q2 2024 EPS Estimates for Range Resources Co. Lifted by Analyst (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Equities researchers at Capital One Financial boosted their Q2 2024 earnings per share (EPS) estimates for shares of Range Resources in a report issued on Tuesday, April 16th. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will post earnings per share of $0.53 for the quarter, up from their previous 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.

Several other brokerages also recently issued reports on RRC. Susquehanna reaffirmed a “neutral” rating and set a $34.00 price target (down previously from $43.00) on shares of Range Resources in a report on Friday, January 26th. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their target price for the stock from $40.00 to $45.00 in a report on Thursday, April 11th. Morgan Stanley lifted their target price on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday. Piper Sandler dropped their target price on Range Resources from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. Finally, Benchmark downgraded Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.75.

Range Resources Trading Down 0.7 %

Shares of Range Resources stock opened at $34.72 on Thursday. The business has a fifty day simple moving average of $32.76 and a two-hundred day simple moving average of $32.20. Range Resources has a 1 year low of $23.92 and a 1 year high of $37.88. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 9.81 and a beta of 1.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 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 $941.40 million during the quarter, compared to the consensus estimate of $672.25 million. During the same quarter last year, the firm posted $1.26 EPS. The company’s quarterly revenue was down 42.3% on a year-over-year basis.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio is presently 9.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raleigh Capital Management Inc. bought a new position in Range Resources in the third quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources during the third quarter worth about $27,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Range Resources by 333.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 666 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Range Resources during the second quarter worth about $28,000. Finally, Proffitt & Goodson Inc. acquired a new position in shares of Range Resources in the third quarter worth approximately $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.