Range Resources Q4 EPS Forecast Increased by Roth Capital

Range Resources Co. (NYSE:RRC) – Research analysts at Roth Capital upped their Q4 2024 EPS estimates for Range Resources in a research note issued to investors on Wednesday, October 23rd. Roth Capital analyst L. Mariani now anticipates that the oil and gas exploration company will post earnings of $0.53 per share for the quarter, up from their prior forecast of $0.52. The consensus estimate for Range Resources’ current full-year earnings is $1.89 per share. Roth Capital also issued estimates for Range Resources’ Q1 2025 earnings at $0.77 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.40 EPS, Q4 2025 earnings at $0.71 EPS and FY2025 earnings at $2.22 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, topping analysts’ consensus estimates of $0.32 by $0.16. The company had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.73%. Range Resources’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS.

A number of other research firms also recently commented on RRC. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Wednesday. Wolfe Research started coverage on Range Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price for the company in a report on Tuesday, August 20th. Stephens increased their price target on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Mizuho cut their price objective on Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.06.

Range Resources Price Performance

Shares of NYSE:RRC opened at $31.33 on Friday. The stock’s 50 day moving average price is $30.25 and its 200 day moving average price is $33.01. 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 stock has a market cap of $7.58 billion, a price-to-earnings ratio of 15.82 and a beta of 1.80. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33.

Institutional Investors Weigh In On Range Resources

A number of large investors have recently bought and sold shares of the business. Fifth Third Bancorp lifted its position in shares of Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Range Resources by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after acquiring an additional 350 shares in the last quarter. Inscription Capital LLC lifted its holdings in Range Resources by 3.6% in the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after purchasing an additional 433 shares during the last quarter. Orser Capital Management LLC boosted its position in Range Resources by 1.0% during the third quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock worth $1,661,000 after purchasing an additional 550 shares during the period. Finally, Pekin Hardy Strauss Inc. boosted its position in Range Resources by 6.0% during the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock worth $357,000 after purchasing an additional 600 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.57% of the company’s stock.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. Range Resources’s payout ratio is 16.16%.

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.