FY2024 EPS Estimate for Range Resources Decreased by Analyst

Range Resources Co. (NYSE:RRC) – Research analysts at Capital One Financial reduced their FY2024 earnings per share estimates for Range Resources in a report released on Wednesday, February 12th. Capital One Financial analyst B. Velie now anticipates that the oil and gas exploration company will earn $2.08 per share for the year, down from their previous forecast of $2.15. The consensus estimate for Range Resources’ current full-year earnings is $2.03 per share. Capital One Financial also issued estimates for Range Resources’ Q4 2024 earnings at $0.55 EPS and Q2 2025 earnings at $0.78 EPS.

Several other equities analysts have also commented on the company. Wells Fargo & Company upped their target price on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Friday, January 3rd. Barclays upped their target price on Range Resources from $34.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Citigroup upped their target price on Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Mizuho upped their target price on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.78.

Range Resources Stock Down 0.3 %

NYSE:RRC opened at $38.68 on Monday. The firm has a market capitalization of $9.33 billion, a PE ratio of 19.54 and a beta of 1.77. The stock has a 50 day moving average of $37.17 and a 200-day moving average of $33.36. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s payout ratio is 16.16%.

Hedge Funds Weigh In On Range Resources

Several hedge funds have recently bought and sold shares of RRC. Brooklyn Investment Group acquired a new position in Range Resources during the third quarter worth $25,000. Smartleaf Asset Management LLC grew its position in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. grew its position in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 426 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at about $42,000. Finally, Blue Trust Inc. grew its position in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 705 shares during the last quarter. 98.93% of the stock is 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.