Q3 2024 Earnings Forecast for Range Resources Co. Issued By Capital One Financial (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Equities research analysts at Capital One Financial decreased their Q3 2024 earnings estimates for shares of Range Resources in a research note issued on Tuesday, September 10th. Capital One Financial analyst B. Velie now forecasts that the oil and gas exploration company will post earnings of $0.54 per share for the quarter, down from their previous estimate of $0.61. The consensus estimate for Range Resources’ current full-year earnings is $2.07 per share. Capital One Financial also issued estimates for Range Resources’ Q4 2024 earnings at $0.62 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.91 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.55 EPS.

Several other analysts also recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Monday, July 8th. Benchmark restated a “hold” rating on shares of Range Resources in a research report on Wednesday, July 24th. Wells Fargo & Company reduced their price objective on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.68.

Range Resources Stock Up 0.4 %

RRC stock opened at $29.03 on Friday. The firm’s fifty day simple moving average is $30.80 and its 200-day simple moving average is $33.56. The company has a market capitalization of $7.03 billion, a P/E ratio of 14.74 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. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The company had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. Range Resources’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the period. SYSTM Wealth Solutions LLC raised its holdings in Range Resources by 17.9% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after acquiring an additional 325 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Range Resources by 5.4% in the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after acquiring an additional 350 shares in the last quarter. Orser Capital Management LLC raised its holdings in Range Resources by 0.8% in the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after acquiring an additional 427 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. raised its holdings in Range Resources by 6.0% in the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock valued at $357,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s dividend payout ratio is currently 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.