Range Resources (NYSE:RRC) Issues Earnings Results

Range Resources (NYSE:RRC) issued its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13, FiscalAI reports. Range Resources had a return on equity of 16.53% and a net margin of 21.12%.The firm had revenue of $786.89 million during the quarter, compared to analyst estimates of $770.92 million. During the same period in the previous year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 30.9% on a year-over-year basis.

Range Resources Stock Performance

RRC traded down $0.17 during trading on Thursday, hitting $38.97. 430,810 shares of the company traded hands, compared to its average volume of 3,207,833. The firm has a market cap of $9.23 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.35 and a beta of 0.58. The stock’s fifty day moving average is $35.91 and its 200 day moving average is $36.27. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. Range Resources has a one year low of $30.32 and a one year high of $43.50.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, December 12th. Range Resources’s payout ratio is 15.13%.

Analyst Ratings Changes

Several brokerages recently issued reports on RRC. Bank of America reiterated a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Range Resources in a report on Friday, January 16th. TD Cowen raised shares of Range Resources to a “hold” rating in a report on Monday, February 9th. Piper Sandler lowered their target price on shares of Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. UBS Group raised their price target on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Finally, Royal Bank Of Canada cut their price target on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and an average price target of $41.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new position in shares of Range Resources during the 4th quarter valued at approximately $34,000. Parkside Financial Bank & Trust lifted its stake in Range Resources by 50.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,413 shares of the oil and gas exploration company’s stock valued at $85,000 after purchasing an additional 807 shares during the last quarter. UMB Bank n.a. grew its holdings in Range Resources by 13.0% during the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after purchasing an additional 279 shares during the period. EverSource Wealth Advisors LLC increased its position in Range Resources by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock worth $119,000 after buying an additional 1,139 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Range Resources in the third quarter worth $231,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.