Analysts Issue Forecasts for Range Resources FY2024 Earnings

Range Resources Co. (NYSE:RRC) – Investment analysts at Capital One Financial boosted their FY2024 earnings per share (EPS) estimates for Range Resources in a note issued to investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now forecasts that the oil and gas exploration company will earn $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 released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.69% and a net margin of 17.63%. Range Resources’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS.

A number of other equities research analysts also recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, November 27th. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $28.00 to $35.00 in a report on Monday, December 9th. Piper Sandler reduced their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. lowered their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.32.

Range Resources Stock Performance

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. The firm has a 50-day moving average of $34.63 and a 200-day moving average of $32.34. Range Resources has a one year low of $27.29 and a one year high of $39.33. The company has a market cap of $9.03 billion, a P/E ratio of 18.89 and a beta of 1.81.

Institutional Investors Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC purchased a new position in Range Resources in the 3rd quarter worth approximately $11,508,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 during the last quarter. Charles Schwab Investment Management Inc. grew its position in Range Resources by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock worth $62,065,000 after acquiring an additional 92,217 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in Range Resources by 135.5% in 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 acquiring an additional 64,443 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Range Resources by 59.9% during the third quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock valued at $4,045,000 after purchasing an additional 49,276 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles G. Griffie purchased 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average cost of $31.46 per share, with a total value of $40,111.50. Following the acquisition, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.

Range Resources Announces Dividend

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

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.