Q4 EPS Estimates for Range Resources Decreased by Analyst

Range Resources Co. (NYSE:RRC) – Investment analysts at Zacks Research cut their Q4 2024 earnings per share (EPS) estimates for shares of Range Resources in a research note issued on Wednesday, November 27th. Zacks Research analyst R. Department now forecasts that the oil and gas exploration company will earn $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.

A number of other brokerages have also recently issued reports on RRC. The Goldman Sachs Group lowered their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Wednesday, October 23rd. Mizuho lowered their price objective on Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada upped their price objective on shares of Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. Finally, Morgan Stanley dropped their target price 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 issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average price target of $35.00.

Range Resources Stock Performance

NYSE:RRC opened at $35.14 on Monday. The company has a market capitalization of $8.48 billion, a P/E ratio of 17.75 and a beta of 1.85. The business has a fifty day simple moving average of $32.26 and a two-hundred day simple moving average of $32.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. Range Resources’s payout ratio is presently 16.16%.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at $304,121.50. The trade was a 56.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was purchased at an average cost of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This represents a 27.44 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of RRC. Fifth Third Bancorp increased its holdings in shares of 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 valued at $57,000 after acquiring an additional 299 shares in the last quarter. M&T Bank Corp increased its position in shares of 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 valued at $332,000 after acquiring an additional 327 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Range Resources by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after acquiring an additional 350 shares during the last quarter. Commerce Bank lifted its position in Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after acquiring an additional 369 shares in the last quarter. Finally, Inscription Capital LLC boosted its stake in Range Resources by 3.6% during the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.