Capital One Financial Comments on Range Resources Co.'s Q2 2024 Earnings (NYSE:RRC)

Range Resources Co. (NYSE:RRC - Free Report) - Stock analysts at Capital One Financial upped their Q2 2024 earnings per share (EPS) estimates for shares of Range Resources in a research report issued to clients and investors on Tuesday, April 16th. Capital One Financial analyst B. Velie now forecasts that the oil and gas exploration company will post earnings per share of $0.53 for the quarter, up from their prior estimate 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' FY2025 earnings at $4.06 EPS.

RRC has been the topic of several other reports. StockNews.com upgraded Range Resources to a "sell" rating in a research note on Wednesday, March 13th. Scotiabank lowered Range Resources from a "sector outperform" rating to a "sector perform" rating and boosted their price target for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Barclays began coverage on Range Resources in a research note on Wednesday, April 10th. They set an "underweight" rating and a $35.00 price target on the stock. Morgan Stanley boosted their price target on Range Resources from $23.00 to $33.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, Benchmark lowered Range Resources from a "buy" rating to a "hold" rating in a research note on Thursday, January 11th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Range Resources currently has an average rating of "Hold" and an average price target of $35.75.

Range Resources Stock Performance

Shares of RRC stock traded up $0.06 during trading on Thursday, reaching $34.78. The company had a trading volume of 1,459,678 shares, compared to its average volume of 2,537,324. Range Resources has a one year low of $23.92 and a one year high of $37.88. The company has a market capitalization of $8.42 billion, a PE ratio of 9.82 and a beta of 1.83. The firm's 50 day simple moving average is $32.89 and its two-hundred day simple moving average is $32.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49.

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

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Thursday, March 14th. Range Resources's payout ratio is currently 9.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC acquired a new position in Range Resources during the 3rd quarter worth $27,000. Schroder Investment Management Group lifted its holdings in Range Resources by 23.7% during the 3rd quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company's stock worth $14,803,000 after buying an additional 87,624 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in Range Resources by 17.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company's stock worth $7,278,000 after buying an additional 33,793 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Range Resources during the 3rd quarter worth $19,704,000. Finally, Cambria Investment Management L.P. lifted its holdings in Range Resources by 8.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company's stock worth $8,588,000 after buying an additional 20,685 shares in the last quarter. 98.93% of the stock is 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.