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

Range Resources Co. (NYSE:RRC) – Investment analysts at Capital One Financial decreased 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 earn $0.51 per share for the quarter, down from their prior estimate of $0.52. The consensus estimate for Range Resources’ current full-year earnings is $1.90 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 released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. The business had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share.

Other analysts have also recently issued research reports about the stock. Barclays assumed coverage on shares of Range Resources in a research note on Wednesday, April 10th. They set an “underweight” rating and a $35.00 target price for the company. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Piper Sandler upped their price objective on shares of Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Range Resources in a research note on Tuesday, April 9th. Finally, Stephens upped their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.40.

Range Resources Stock Up 3.3 %

RRC stock opened at $37.77 on Tuesday. The stock has a market capitalization of $9.14 billion, a P/E ratio of 10.67 and a beta of 1.83. The firm has a 50-day simple moving average of $33.52 and a 200-day simple moving average of $32.37. 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 52 week low of $23.92 and a 52 week high of $37.89.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.85%. Range Resources’s payout ratio is 9.04%.

Hedge Funds Weigh In On Range Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Raleigh Capital Management Inc. acquired a new position in shares of Range Resources in the 3rd quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Range Resources in the 3rd quarter valued at $27,000. Proffitt & Goodson Inc. acquired a new position in Range Resources during the 3rd quarter worth about $32,000. Finally, Larson Financial Group LLC boosted its holdings in Range Resources by 267.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after acquiring an additional 900 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.