FY2024 EPS Forecast for Range Resources Decreased by Analyst

Range Resources Co. (NYSE:RRC) – Analysts at Capital One Financial decreased their FY2024 earnings per share (EPS) estimates for Range Resources in a research report issued on Wednesday, February 12th. Capital One Financial analyst B. Velie now anticipates that the oil and gas exploration company will post earnings of $2.08 per share for the year, down from their previous estimate of $2.15. The consensus estimate for Range Resources’ current full-year earnings is $2.03 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 topic of several other research reports. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock. in a report on Friday, January 17th. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their target price on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.78.

Range Resources Stock Up 0.8 %

RRC opened at $38.98 on Monday. The company has a market cap of $9.41 billion, a P/E ratio of 19.69 and a beta of 1.77. The business’s 50-day moving average price is $37.36 and its 200-day moving average price is $33.48. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95.

Institutional Trading of Range Resources

A number of hedge funds have recently made changes to their positions in RRC. Fuller & Thaler Asset Management Inc. boosted its position in shares of Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after purchasing an additional 2,104,304 shares in the last quarter. Canoe Financial LP raised its holdings in Range Resources by 114.9% in the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after acquiring an additional 1,422,200 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Range Resources during the 4th quarter valued at $33,684,000. Amundi raised its stake in Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after buying an additional 826,530 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Range Resources by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after buying an additional 624,955 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 0.82%. Range Resources’s dividend payout ratio is currently 16.16%.

About Range Resources

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.