Equities Analysts Set Expectations for Range Resources Co.’s Q2 2024 Earnings (NYSE:RRC)

Range Resources Co. (NYSE:RRC) – Zacks Research reduced their Q2 2024 earnings estimates for shares of Range Resources in a research report issued to clients and investors on Wednesday, June 26th. Zacks Research analyst R. Department now forecasts that the oil and gas exploration company will earn $0.32 per share for the quarter, down from their prior estimate of $0.33. The consensus estimate for Range Resources’ current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Range Resources’ Q2 2025 earnings at $0.67 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.69 EPS and FY2025 earnings at $2.86 EPS.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the firm earned $0.96 earnings per share. Range Resources’s quarterly revenue was down 15.7% on a year-over-year basis.

RRC has been the topic of a number of other research reports. Susquehanna increased their target price on shares of Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Citigroup raised their price objective on Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Barclays initiated coverage on shares of Range Resources in a research report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price target for the company. Stifel Nicolaus raised their price objective on shares of Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Stephens boosted their price target on shares of Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.10.

Range Resources Trading Up 2.2 %

NYSE RRC opened at $34.15 on Monday. The stock has a market capitalization of $8.29 billion, a P/E ratio of 17.34 and a beta of 1.88. Range Resources has a one year low of $27.60 and a one year high of $39.33. The business has a 50 day simple moving average of $35.99 and a 200 day simple moving average of $33.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35.

Institutional Trading of Range Resources

A number of institutional investors have recently modified their holdings of RRC. Raleigh Capital Management Inc. bought a new position in Range Resources during the 3rd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. lifted its stake in Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 666 shares during the period. Delos Wealth Advisors LLC bought a new stake in Range Resources in the fourth quarter valued at $52,000. SYSTM Wealth Solutions LLC increased its position in Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after purchasing an additional 325 shares during the period. Finally, Private Wealth Management Group LLC bought a new position in Range Resources in the 4th quarter worth $73,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Range Resources

In other Range Resources news, Director Reginal Spiller sold 1,460 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total transaction of $56,472.80. Following the completion of the sale, the director now directly owns 15,253 shares in the company, valued at $589,986.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the sale, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reginal Spiller sold 1,460 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the completion of the sale, the director now directly owns 15,253 shares in the company, valued at approximately $589,986.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,107 shares of company stock valued at $7,379,095. Insiders own 2.50% of the company’s stock.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.94%. Range Resources’s payout ratio is 16.24%.

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.