FY2024 EPS Estimate for Range Resources Increased by Analyst

Range Resources Co. (NYSE:RRC - Free Report) - Capital One Financial lifted their FY2024 earnings per share (EPS) estimates for shares of 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 per share of $2.02 for the year, up from their previous estimate of $1.95. The consensus estimate for Range Resources' current full-year earnings is $1.89 per share.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly 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 net margin of 17.63% and a return on equity of 13.73%. The firm had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. During the same quarter last year, the firm posted $0.43 EPS. The business's quarterly revenue was up .9% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the stock. Wolfe Research started coverage on shares of Range Resources in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. Scotiabank upgraded Range Resources from a "sector perform" rating to a "sector outperform" rating and set a $45.00 target price on the stock in a research report on Tuesday, August 20th. Wells Fargo & Company decreased their price objective on Range Resources from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday. Royal Bank of Canada reissued a "sector perform" rating and issued a $39.00 target price on shares of Range Resources in a report on Thursday, July 25th. Finally, UBS Group lowered their price target on shares of Range Resources from $30.00 to $27.00 and set a "sell" rating on the stock in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and a consensus price target of $35.00.

Range Resources Stock Performance

Range Resources stock traded down $0.36 during mid-day trading on Monday, reaching $30.97. 2,094,773 shares of the stock traded hands, compared to its average volume of 2,370,856. The stock has a market capitalization of $7.51 billion, a PE ratio of 15.72 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The business's 50-day moving average is $30.24 and its 200-day moving average is $32.95. Range Resources has a 12-month low of $27.29 and a 12-month high of $39.33.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position 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 worth $46,000 after purchasing an additional 705 shares in the last quarter. Bogart Wealth LLC purchased a new stake in shares of Range Resources during the 3rd quarter worth approximately $49,000. Fifth Third Bancorp increased its stake in Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company's stock valued at $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co purchased a new stake in Range Resources during the second quarter worth $67,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Range Resources during the 2nd quarter worth $67,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Insider Buying and Selling

In related news, VP Ashley Kavanaugh sold 12,700 shares of the 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 transaction, the vice president now directly owns 9,670 shares of the company's stock, valued at $304,121.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares of the company's stock, valued at $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, September 13th. Range Resources's payout ratio is presently 16.24%.

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.