Range Resources Q4 EPS Forecast Lowered by Zacks Research

Range Resources Co. (NYSE:RRC) – Investment analysts at Zacks Research dropped their Q4 2024 earnings estimates for Range Resources in a research note issued to 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 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.

Several other research analysts have also recently weighed in on the company. Piper Sandler lowered their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. The Goldman Sachs Group decreased their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Royal Bank of Canada boosted their price target on Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research note on Monday, November 25th. Morgan Stanley lowered their price objective on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. cut their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. Four equities research 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. According to MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus price target of $35.00.

Range Resources Price Performance

Shares of NYSE RRC opened at $35.14 on Monday. The firm has a market cap of $8.48 billion, a P/E ratio of 17.75 and a beta of 1.85. The business’s 50 day moving average is $32.26 and its 200-day moving average is $32.50. 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 1-year low of $27.29 and a 1-year high of $39.33.

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

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently added to or reduced their stakes in RRC. Brooklyn Investment Group bought a new position in shares of Range Resources in the third quarter valued at approximately $25,000. Blue Trust Inc. boosted its holdings in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of Range Resources in the 3rd quarter worth $49,000. Fifth Third Bancorp raised its holdings in shares of Range Resources by 21.2% in 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 purchasing an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co bought a new position in shares of Range Resources during the second quarter valued at about $67,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Transactions at Range Resources

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

Range Resources Dividend Announcement

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