Range Resources Co. (NYSE:RRC) Expected to Earn Q2 2024 Earnings of $0.32 Per Share

Range Resources Co. (NYSE:RRC) – Equities researchers at Zacks Research reduced their Q2 2024 earnings estimates for Range Resources in a research report issued on Wednesday, June 26th. Zacks Research analyst R. Department now expects that the oil and gas exploration company will post earnings of $0.32 per share for the quarter, down from their prior estimate of $0.33. The consensus estimate for Range Resources’ current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Range Resources’ Q2 2025 earnings at $0.67 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.69 EPS and FY2025 earnings at $2.86 EPS.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 earnings per share.

A number of other equities analysts also recently commented on the stock. Mizuho lifted their target price on shares of Range Resources from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Stephens boosted their price target on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Susquehanna boosted their price target on shares of Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Barclays assumed coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.10.

Range Resources Stock Performance

RRC opened at $33.53 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $36.10 and its 200 day moving average price is $33.19. Range Resources has a twelve month low of $27.60 and a twelve month high of $39.33. The firm has a market capitalization of $8.14 billion, a PE ratio of 17.02 and a beta of 1.81.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Friday, June 14th. Range Resources’s payout ratio is currently 16.24%.

Insiders Place Their Bets

In other Range Resources news, Director Charles G. Griffie bought 1,500 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares in the company, valued at approximately $160,983.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Charles G. Griffie bought 1,500 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the acquisition, the director now owns 4,646 shares in the company, valued at $160,983.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the sale, the director now owns 15,253 shares of the company’s stock, valued at $589,986.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,107 shares of company stock worth $7,379,095. Insiders own 1.57% of the company’s stock.

Institutional Trading of Range Resources

Several institutional investors have recently added to or reduced their stakes in RRC. Boston Partners increased its stake in Range Resources by 2.1% during the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after purchasing an additional 133,565 shares during the last quarter. Cetera Advisors LLC increased its stake in Range Resources by 4.4% during the first quarter. Cetera Advisors LLC now owns 15,720 shares of the oil and gas exploration company’s stock valued at $541,000 after purchasing an additional 665 shares during the last quarter. Cetera Investment Advisers increased its stake in Range Resources by 906.5% during the first quarter. Cetera Investment Advisers now owns 89,940 shares of the oil and gas exploration company’s stock valued at $3,097,000 after purchasing an additional 81,004 shares during the last quarter. Hancock Whitney Corp bought a new stake in Range Resources during the first quarter valued at $232,000. Finally, Energy Income Partners LLC increased its stake in Range Resources by 33.5% during the first quarter. Energy Income Partners LLC now owns 138,787 shares of the oil and gas exploration company’s stock valued at $4,778,000 after purchasing an additional 34,850 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.