FY2024 EPS Estimates for Range Resources Raised by Analyst

Range Resources Co. (NYSE:RRC) – Equities researchers at Capital One Financial increased their FY2024 EPS estimates for Range Resources in a report issued on Wednesday, October 23rd. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will post earnings of $2.02 per share for the year, up from their prior estimate of $1.95. The consensus estimate for Range Resources’ current full-year earnings is $1.89 per share.

RRC has been the topic of a number of other research reports. Susquehanna cut their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. UBS Group cut their price objective on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley decreased their target price on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Wolfe Research started coverage on Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, The Goldman Sachs Group decreased their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.00.

Range Resources Stock Performance

Shares of RRC stock opened at $30.98 on Monday. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 15.73 and a beta of 1.80. The stock has a fifty day moving average of $30.24 and a 200 day moving average of $32.92. Range Resources has a 52 week low of $27.29 and a 52 week high of $39.33. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.

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. Range Resources had a return on equity of 13.73% and a net margin of 17.63%. The business had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same quarter in the prior year, the company posted $0.43 EPS. Range Resources’s quarterly revenue was up .9% compared to the same quarter last year.

Range Resources Announces Dividend

The business 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 1.03%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Insider Buying and Selling

In related news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction 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 completion of the sale, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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 $304,121.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles G. Griffie bought 1,275 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired 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 $186,274.66. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares during the period. Bogart Wealth LLC bought a new position in shares of Range Resources in the third quarter worth approximately $49,000. Fifth Third Bancorp increased its stake 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 purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co bought a new stake in shares of Range Resources during the 2nd quarter valued at $67,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Range Resources during the 2nd quarter valued at $67,000. 98.93% of the stock is currently 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.