FY2024 EPS Estimate for Range Resources Lifted by Analyst

Range Resources Co. (NYSE:RRC) – Capital One Financial boosted their FY2024 earnings estimates for shares of Range Resources in a report released on Wednesday, January 8th. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will earn $2.03 per share for the year, up from their prior estimate of $2.02. The consensus estimate for Range Resources’ current full-year earnings is $1.91 per share. Capital One Financial also issued estimates for Range Resources’ Q1 2025 earnings at $0.78 EPS.

A number of other equities research analysts have also issued reports on RRC. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday, January 3rd. Citigroup increased their target price on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Stephens boosted their price target on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.32.

Range Resources Trading Up 1.7 %

Shares of RRC stock opened at $37.41 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources has a 1-year low of $27.29 and a 1-year high of $39.33. The stock has a market capitalization of $9.03 billion, a PE ratio of 18.89 and a beta of 1.81. The business has a 50-day moving average of $34.63 and a 200 day moving average of $32.34.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. The business had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Insider Buying and Selling

In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The stock was purchased at an average price of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Range Resources

Several large investors have recently added to or reduced their stakes in the business. M&T Bank Corp raised its position in Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after acquiring an additional 327 shares during the period. Commerce Bank raised its holdings in Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 369 shares during the period. Inscription Capital LLC lifted its position in Range Resources by 3.6% during the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares in the last quarter. Versant Capital Management Inc grew its holdings in Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 463 shares during the period. Finally, Orser Capital Management LLC grew its holdings in Range Resources by 1.0% during the third quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock valued at $1,661,000 after purchasing an additional 550 shares during the period. 98.93% of the stock is currently 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.