Range Resources (NYSE:RRC) Releases Quarterly Earnings Results

Range Resources (NYSE:RRC) released its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.69 by $0.13, FiscalAI reports. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The business had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company’s quarterly revenue was up 30.9% compared to the same quarter last year.

Range Resources Trading Down 1.0%

NYSE:RRC traded down $0.39 on Wednesday, reaching $38.14. The stock had a trading volume of 764,830 shares, compared to its average volume of 3,146,635. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 0.35 and a beta of 0.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. Range Resources has a 12-month low of $30.32 and a 12-month high of $43.50. The firm’s fifty day moving average is $35.83 and its two-hundred day moving average is $36.25.

Range Resources Dividend Announcement

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

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group boosted its position in shares of Range Resources by 27.4% in the fourth quarter. Brooklyn Investment Group now owns 8,951 shares of the oil and gas exploration company’s stock worth $321,000 after acquiring an additional 1,926 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Range Resources by 34.9% during the 4th quarter. Corient Private Wealth LLC now owns 9,870 shares of the oil and gas exploration company’s stock worth $348,000 after buying an additional 2,552 shares during the last quarter. Diversify Advisory Services LLC raised its position in shares of Range Resources by 7.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 10,017 shares of the oil and gas exploration company’s stock worth $370,000 after buying an additional 732 shares during the period. Bank of Montreal Can grew its position in Range Resources by 3.0% during the fourth quarter. Bank of Montreal Can now owns 28,124 shares of the oil and gas exploration company’s stock valued at $992,000 after acquiring an additional 820 shares during the period. Finally, Sprott Inc. acquired a new stake in Range Resources during the fourth quarter worth about $417,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Wells Fargo & Company set a $43.00 target price on Range Resources and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Range Resources in a research note on Monday, December 29th. Mizuho upped their price objective on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Citigroup reduced their target price on Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and an average target price of $41.12.

About Range Resources

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.