Research Analysts Offer Predictions for Range Resources Co.’s Q2 2024 Earnings (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Zacks Research cut their Q2 2024 earnings estimates for shares of Range Resources in a research note issued on Wednesday, June 26th. Zacks Research analyst R. Department now expects that the oil and gas exploration company will post earnings of $0.32 per share for the quarter, down from their previous forecast of $0.33. The consensus estimate for Range Resources’ current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Range Resources’ Q2 2025 earnings at $0.67 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.69 EPS and FY2025 earnings at $2.86 EPS.

Several other brokerages have also weighed in on RRC. Royal Bank of Canada lowered shares of Range Resources from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $36.00 to $39.00 in a research note on Friday, April 26th. Citigroup increased their price target on shares of Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Mizuho lifted their price target on shares of Range Resources from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group raised their price target on Range Resources from $32.00 to $34.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus price target of $37.10.

Range Resources Stock Down 0.3 %

RRC stock opened at $33.42 on Monday. Range Resources has a one year low of $27.60 and a one year high of $39.33. The firm’s 50 day moving average price is $36.04 and its 200-day moving average price is $33.21. The firm has a market cap of $8.11 billion, a PE ratio of 16.96 and a beta of 1.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter last year, the business earned $0.96 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. acquired a new stake in Range Resources during the 3rd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 666 shares during the last quarter. Delos Wealth Advisors LLC acquired a new position in shares of Range Resources in the fourth quarter worth $52,000. SYSTM Wealth Solutions LLC raised its holdings in shares of Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after acquiring an additional 325 shares in the last quarter. Finally, Private Wealth Management Group LLC acquired a new stake in Range Resources during the fourth quarter valued at $73,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Range Resources

In other Range Resources news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the transaction, the director now owns 15,253 shares in the company, valued at approximately $589,986.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the completion of the transaction, the director now directly owns 15,253 shares in the company, valued at $589,986.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The disclosure for this sale can be found here. In the last three months, insiders sold 197,107 shares of company stock valued at $7,379,095. Corporate insiders own 2.50% of the company’s stock.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.96%. Range Resources’s payout ratio is 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.