Q4 EPS Estimates for Range Resources Cut by Zacks Research

Range Resources Co. (NYSE:RRC) – Equities research analysts at Zacks Research decreased their Q4 2024 earnings estimates for Range Resources in a research report issued on Wednesday, November 27th. Zacks Research analyst R. Department now anticipates that the oil and gas exploration company will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.43. The consensus estimate for Range Resources’ current full-year earnings is $1.90 per share. Zacks Research also issued estimates for Range Resources’ Q1 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.70 EPS and FY2025 earnings at $2.25 EPS.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company 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 earned $0.43 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis.

A number of other analysts have also issued reports on the stock. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Barclays upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $34.00 in a research report on Wednesday, October 2nd. The Goldman Sachs Group lowered their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Piper Sandler cut their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a report 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. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus price target of $35.00.

Range Resources Stock Down 2.3 %

Shares of Range Resources stock opened at $34.91 on Monday. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33. The company has a market cap of $8.42 billion, a P/E ratio of 18.04 and a beta of 1.80. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $32.19 and a 200 day moving average price of $32.52.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers raised its holdings in Range Resources by 906.5% in the 1st quarter. Cetera Investment Advisers now owns 89,940 shares of the oil and gas exploration company’s stock valued at $3,097,000 after acquiring an additional 81,004 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Range Resources by 4.4% in 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 in the last quarter. GAMMA Investing LLC lifted its position in Range Resources by 20.8% in the second quarter. GAMMA Investing LLC now owns 3,529 shares of the oil and gas exploration company’s stock worth $118,000 after purchasing an additional 608 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Range Resources by 270.0% during the second quarter. Harbor Capital Advisors Inc. now owns 8,555 shares of the oil and gas exploration company’s stock worth $287,000 after buying an additional 6,243 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new stake in Range Resources in the 2nd quarter valued at $67,000. Institutional investors own 98.93% of the company’s stock.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at $186,274.66. This trade represents a 27.44 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources’s dividend payout ratio is currently 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.