FY2024 EPS Forecast for Range Resources Decreased by Analyst

Range Resources Co. (NYSE:RRC - Free Report) - Equities research analysts at Capital One Financial reduced their FY2024 earnings per share (EPS) estimates for Range Resources in a report issued on Wednesday, February 12th. Capital One Financial analyst B. Velie now forecasts that the oil and gas exploration company will post earnings of $2.08 per share for the year, down from their prior forecast of $2.15. The consensus estimate for Range Resources' current full-year earnings is $2.02 per share. Capital One Financial also issued estimates for Range Resources' Q4 2024 earnings at $0.55 EPS and Q2 2025 earnings at $0.78 EPS.

RRC has been the subject of several other research reports. Citigroup upped their price target on shares of Range Resources from $33.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. The Goldman Sachs Group raised their price objective on Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Barclays upped their target price on shares of Range Resources from $34.00 to $40.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Stephens raised their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Finally, UBS Group boosted their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Range Resources has an average rating of "Hold" and an average price target of $38.78.

Range Resources Price Performance

NYSE RRC traded down $0.24 on Monday, hitting $39.66. The company had a trading volume of 2,283,158 shares, compared to its average volume of 2,579,183. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company's fifty day moving average price is $37.44 and its 200-day moving average price is $33.53. The company has a market capitalization of $9.57 billion, a PE ratio of 20.03 and a beta of 1.77. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. Range Resources's dividend payout ratio (DPR) is presently 16.16%.

Institutional Investors Weigh In On Range Resources

Large investors have recently modified their holdings of the company. CWM LLC grew its position in Range Resources by 276.8% during the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company's stock worth $71,000 after purchasing an additional 1,694 shares during the last quarter. Creative Planning grew its holdings in shares of Range Resources by 2.0% during the third quarter. Creative Planning now owns 56,744 shares of the oil and gas exploration company's stock worth $1,745,000 after buying an additional 1,089 shares during the last quarter. Blue Trust Inc. increased its position in Range Resources by 107.8% in 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. Raymond James & Associates increased its position in Range Resources by 4.2% in the 3rd quarter. Raymond James & Associates now owns 260,043 shares of the oil and gas exploration company's stock valued at $7,999,000 after acquiring an additional 10,391 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Range Resources by 2,976.0% during the 3rd quarter. International Assets Investment Management LLC now owns 61,520 shares of the oil and gas exploration company's stock worth $2,000,000 after acquiring an additional 59,520 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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.