Range Resources Co. to Post Q3 2024 Earnings of $0.38 Per Share, Capital One Financial Forecasts (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Research analysts at Capital One Financial decreased their Q3 2024 EPS estimates for shares of Range Resources in a research note issued on Tuesday, September 17th. Capital One Financial analyst B. Velie now anticipates that the oil and gas exploration company will earn $0.38 per share for the quarter, down from their previous estimate of $0.54. The consensus estimate for Range Resources’ current full-year earnings is $2.07 per share. Capital One Financial also issued estimates for Range Resources’ Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.68 EPS, Q4 2025 earnings at $0.69 EPS and FY2025 earnings at $2.66 EPS.

A number of other research analysts also recently commented on RRC. Susquehanna dropped their price objective on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Piper Sandler lowered shares of Range Resources from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $43.00 to $31.00 in a research note on Thursday, August 15th. Wells Fargo & Company lowered their target price on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $39.00 target price on shares of Range Resources in a research report on Thursday, July 25th. Finally, Wolfe Research initiated coverage on Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.10.

Range Resources Stock Performance

NYSE:RRC opened at $30.61 on Friday. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $7.43 billion, a PE ratio of 15.54 and a beta of 1.80. The business’s fifty day moving average price is $30.40 and its 200 day moving average price is $33.49.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business had revenue of $641.30 million during the quarter, compared to the consensus estimate of $610.24 million. During the same period in the previous year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis.

Institutional Investors Weigh In On Range Resources

A number of institutional investors have recently added to or reduced their stakes in RRC. Fifth Third Bancorp increased its holdings in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new position in Range Resources during the second quarter worth about $67,000. International Assets Investment Management LLC purchased a new position in Range Resources in the second quarter valued at about $67,000. SYSTM Wealth Solutions LLC lifted its position in shares of Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after acquiring an additional 325 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Range Resources during the 2nd quarter worth approximately $107,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. Range Resources’s payout ratio is currently 16.24%.

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.