Q1 2024 Earnings Estimate for Range Resources Co. Issued By Capital One Financial (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Equities research analysts at Capital One Financial lowered their Q1 2024 earnings per share (EPS) estimates for Range Resources in a research note issued to investors on Tuesday, April 16th. Capital One Financial analyst B. Velie now expects that the oil and gas exploration company will post earnings of $0.45 per share for the quarter, down from their previous forecast of $0.52. The consensus estimate for Range Resources’ current full-year earnings is $1.91 per share. Capital One Financial also issued estimates for Range Resources’ FY2024 earnings at $2.05 EPS.

A number of other analysts have also recently commented on RRC. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and upped their price target for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Mizuho reiterated a “buy” rating and issued a $39.00 price target on shares of Range Resources in a research report on Thursday, April 11th. Stifel Nicolaus dropped their price objective on Range Resources from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Barclays began coverage on shares of Range Resources in a report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Range Resources in a research note on Tuesday, April 9th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Range Resources presently has an average rating of “Hold” and an average price target of $35.75.

Range Resources Trading Up 0.2 %

NYSE:RRC opened at $34.78 on Wednesday. Range Resources has a 12 month low of $23.92 and a 12 month high of $37.88. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $32.89 and its 200 day moving average is $32.21. The stock has a market capitalization of $8.42 billion, a PE ratio of 9.82 and a beta of 1.83.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. The firm had revenue of $941.40 million during the quarter, compared to the consensus estimate of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The business’s revenue for the quarter was down 42.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were 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 of this dividend was Thursday, March 14th. Range Resources’s payout ratio is presently 9.04%.

Institutional Trading of Range Resources

Hedge funds have recently modified their holdings of the business. Orser Capital Management LLC boosted 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 worth $1,867,000 after purchasing an additional 427 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its stake in Range Resources by 4.3% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock worth $317,000 after purchasing an additional 431 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Range Resources by 57.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after acquiring an additional 490 shares in the last quarter. Lmcg Investments LLC increased its position in Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock worth $4,695,000 after purchasing an additional 546 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Range Resources by 2.0% in the 4th quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock worth $888,000 after buying an additional 579 shares in the last quarter. 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.