Capital One Financial Weighs in on Range Resources Co.’s Q3 2024 Earnings (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Research analysts at Capital One Financial cut their Q3 2024 earnings estimates for Range Resources in a research report issued to clients and investors on Tuesday, September 10th. Capital One Financial analyst B. Velie now anticipates that the oil and gas exploration company will post earnings of $0.54 per share for the quarter, down from their prior estimate of $0.61. The consensus estimate for Range Resources’ current full-year earnings is $2.07 per share. Capital One Financial also issued estimates for Range Resources’ Q4 2024 earnings at $0.62 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.91 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.55 EPS.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $43.00 to $31.00 in a report on Thursday, August 15th. Jefferies Financial Group boosted their price target on shares of Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. Finally, Wells Fargo & Company lowered their price target on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and an average target price of $36.68.

Range Resources Trading Up 0.2 %

Shares of RRC stock opened at $29.04 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $7.03 billion, a P/E ratio of 14.74 and a beta of 1.80. The company has a 50 day moving average price of $30.80 and a 200 day moving average price of $33.55. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.10%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. KGH Ltd raised its position in Range Resources by 3.2% in the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after purchasing an additional 190,000 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Range Resources in the 2nd quarter valued at $486,000. Creative Planning increased its stake in Range Resources by 5.3% in the 2nd quarter. Creative Planning now owns 55,655 shares of the oil and gas exploration company’s stock valued at $1,866,000 after buying an additional 2,792 shares during the period. Magnolia Capital Advisors LLC acquired a new position in Range Resources in the 2nd quarter valued at $508,000. Finally, Algert Global LLC acquired a new position in Range Resources in the 2nd quarter valued at $818,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.