Range Resources FY2024 EPS Boosted by Capital One Financial

Range Resources Co. (NYSE:RRC - Free Report) - Investment analysts at Capital One Financial lifted their FY2024 earnings estimates for Range Resources in a research report issued to clients and investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will post earnings per share of $2.03 for the year, up from their prior estimate of $2.02. The consensus estimate for Range Resources' current full-year earnings is $1.91 per share. Capital One Financial also issued estimates for Range Resources' Q1 2025 earnings at $0.78 EPS.

A number of other brokerages also recently issued reports on RRC. UBS Group upgraded Range Resources from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $28.00 to $35.00 in a research note on Monday, December 9th. StockNews.com raised shares of Range Resources to a "sell" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered their target price on shares of Range Resources from $37.00 to $31.00 and set an "underweight" rating on the stock in a research note on Thursday, September 12th. Benchmark reaffirmed a "hold" rating on shares of Range Resources in a report on Wednesday, October 23rd. Finally, Citigroup raised their price target on Range Resources from $33.00 to $38.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and an average target price of $36.32.

Range Resources Stock Performance

NYSE:RRC traded up $0.75 during mid-day trading on Friday, hitting $38.27. 3,158,900 shares of the company traded hands, compared to its average volume of 3,012,000. The stock's fifty day moving average price is $34.63 and its 200-day moving average price is $32.34. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a one year low of $27.29 and a one year high of $39.33. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 19.33 and a beta of 1.81.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data 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 net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The company's revenue for the quarter was up .9% compared to the same quarter last year.

Institutional Trading of Range Resources

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Range Resources by 36.4% during the 4th quarter. GAMMA Investing LLC now owns 4,391 shares of the oil and gas exploration company's stock worth $158,000 after acquiring an additional 1,172 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock worth $56,000 after purchasing an additional 463 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after purchasing an additional 604,199 shares during the period. Forthright Family Wealth Advisory LLC bought a new position in shares of Range Resources in the third quarter worth about $445,000. Finally, Sanctuary Advisors LLC purchased a new position in Range Resources in the 3rd quarter worth about $205,000. Institutional investors own 98.93% of the company's stock.

Insider Buying and Selling at Range Resources

In other news, Director Charles G. Griffie purchased 1,275 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $31.46 per share, with a total value of $40,111.50. Following the purchase, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company's stock.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, December 13th. Range Resources's payout ratio is 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.