Range Resources Q4 EPS Estimate Reduced by Zacks Research

Range Resources Co. (NYSE:RRC) – Research analysts at Zacks Research cut their Q4 2024 earnings per share estimates for shares of Range Resources in a research report issued to clients and investors 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 previous 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) last issued its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue was up .9% on a year-over-year basis.

Other research analysts have also recently issued research reports about the stock. Bank of America began coverage on shares of Range Resources in a research note on Monday, October 28th. They issued a “neutral” rating and a $34.00 target price for the company. Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a research report on Tuesday, August 20th. Royal Bank of Canada increased their target price on Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. UBS Group lowered their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Range Resources presently has an average rating of “Hold” and an average target price of $35.00.

Range Resources Trading Down 2.3 %

Shares of RRC stock opened at $34.91 on Monday. The company has a market capitalization of $8.42 billion, a P/E ratio of 18.04 and a beta of 1.80. Range Resources has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $32.19 and a 200 day moving average price of $32.52.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

Insider Transactions at Range Resources

In related news, Director Charles G. Griffie bought 1,275 shares of Range Resources stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated 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 directly owns 9,670 shares of the company’s stock, valued at approximately $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 owned by corporate insiders.

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of Range Resources in the 3rd quarter valued at $205,000. Geode Capital Management LLC increased its holdings 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 worth $123,174,000 after acquiring an additional 35,344 shares in the last quarter. M&T Bank Corp raised 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 worth $332,000 after purchasing an additional 327 shares during the period. Barclays PLC lifted its holdings in shares of Range Resources by 180.8% during the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock valued at $6,830,000 after purchasing an additional 142,938 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Range Resources in the 3rd quarter valued at approximately $467,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.