Range Resources FY2024 EPS Lifted by Capital One Financial

Range Resources Co. (NYSE:RRC) – Equities research analysts at Capital One Financial raised their FY2024 earnings per share (EPS) 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 post earnings of $2.03 per share for the year, up from their previous forecast 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.

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

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Piper Sandler dropped their price target on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Bank of America assumed coverage on Range Resources in a research report on Monday, October 28th. They issued a “neutral” rating and a $34.00 price objective on the stock. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.32.

Range Resources Stock Performance

NYSE:RRC opened at $38.27 on Friday. Range Resources has a twelve month low of $27.29 and a twelve month high of $39.33. The company has a market capitalization of $9.23 billion, a P/E ratio of 19.33 and a beta of 1.81. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $34.63 and a two-hundred day moving average price of $32.34.

Range Resources Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Insiders Place Their Bets

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

Institutional Trading of Range Resources

A number of institutional investors have recently added to or reduced their stakes in RRC. HITE Hedge Asset Management LLC acquired a new position in shares of Range Resources in the 3rd quarter valued at approximately $11,508,000. JPMorgan Chase & Co. grew its holdings in Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after acquiring an additional 604,199 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after purchasing an additional 92,217 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in Range Resources by 135.5% during the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock valued at $3,445,000 after buying an additional 64,443 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Range Resources by 59.9% during the 3rd quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock worth $4,045,000 after buying an additional 49,276 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.