Range Resources Q4 EPS Estimate Lowered by Zacks Research

Range Resources Co. (NYSE:RRC - Free Report) - Equities researchers at Zacks Research reduced their Q4 2024 EPS estimates for Range Resources in a research report issued on Wednesday, November 27th. Zacks Research analyst R. Department now expects 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 - Get Free Report) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 EPS.

A number of other brokerages have also recently issued reports on RRC. Bank of America assumed coverage on Range Resources in a report on Monday, October 28th. They set a "neutral" rating and a $34.00 target price on the stock. Barclays raised shares of Range Resources from an "underweight" rating to an "equal weight" rating and reduced their price objective for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. UBS Group lowered their target price on shares of Range Resources from $30.00 to $27.00 and set a "sell" rating for the company in a research note on Wednesday, September 18th. StockNews.com upgraded shares of Range Resources to a "sell" rating in a report on Wednesday, November 27th. Finally, Morgan Stanley lowered their price objective on shares of Range Resources from $33.00 to $31.00 and set an "underweight" rating for the company in a research report on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Range Resources currently has an average rating of "Hold" and an average target price of $35.00.

Range Resources Trading Down 2.3 %

Shares of Range Resources stock traded down $0.83 during trading on Monday, reaching $34.91. 1,480,396 shares of the company were exchanged, compared to its average volume of 2,345,775. The business has a 50-day moving average price of $32.19 and a 200-day moving average price of $32.52. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 18.04 and a beta of 1.80. 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 twelve month low of $27.29 and a twelve month high of $39.33.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. Range Resources's payout ratio is 16.16%.

Insider Activity at Range Resources

In other news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction dated Thursday, October 24th. The shares were bought at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the business'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 completion of the sale, the vice president now owns 9,670 shares of the company's stock, valued at $304,121.50. This trade represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in Range Resources in the 3rd quarter valued at about $205,000. Geode Capital Management LLC boosted its stake in shares of Range Resources by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company's stock valued at $123,174,000 after buying an additional 35,344 shares during the period. M&T Bank Corp grew its position in Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock worth $332,000 after buying an additional 327 shares in the last quarter. Barclays PLC grew its position in Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock worth $6,830,000 after buying an additional 142,938 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in Range Resources during the 3rd quarter worth $467,000. 98.93% of the stock is owned by institutional investors.

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.