Range Resources Co. to Post Q3 2024 Earnings of $0.51 Per Share, Capital One Financial Forecasts (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Equities researchers at Capital One Financial cut their Q3 2024 EPS estimates for Range Resources in a research note issued to investors 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 prior 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.

Several other equities analysts also recently commented on RRC. Piper Sandler raised their target price on Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday. Susquehanna lifted their price objective on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday. Truist Financial reduced their target price on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $40.00 to $45.00 in a research report on Thursday, April 11th. Finally, Morgan Stanley boosted their price target on shares of Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Five investment 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. Based on data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and a consensus price target of $35.90.

Range Resources Stock Up 2.4 %

NYSE RRC opened at $36.12 on Tuesday. 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 $8.74 billion, a price-to-earnings ratio of 10.20 and a beta of 1.83. The stock’s 50 day moving average is $33.18 and its two-hundred day moving average is $32.30. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

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

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given 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 yield of 0.89%. Range Resources’s payout ratio is 9.04%.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Boston Partners grew its position in shares of Range Resources by 1,858.7% during the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock worth $194,722,000 after buying an additional 6,070,900 shares during the period. Dimensional Fund Advisors LP boosted its stake in Range Resources by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after acquiring an additional 90,028 shares during the last quarter. Invesco Ltd. grew its holdings in Range Resources by 22.4% during the 3rd quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after acquiring an additional 693,970 shares during the period. Kopernik Global Investors LLC raised its position in shares of Range Resources by 2.7% during the 4th quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock valued at $94,562,000 after acquiring an additional 82,095 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Range Resources by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company’s stock valued at $54,208,000 after acquiring an additional 64,810 shares during the last quarter. 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.