Capital One Financial Brokers Lower Earnings Estimates for Range Resources Co. (NYSE:RRC)
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Range Resources Co. (NYSE:RRC – Get Rating) – Stock analysts at Capital One Financial decreased their Q2 2023 earnings estimates for shares of Range Resources in a research report issued to clients and investors on Monday, March 27th. Capital One Financial analyst B. Velie now forecasts that the oil and gas exploration company will post earnings of $0.54 per share for the quarter, down from their prior estimate of $0.59. The consensus estimate for Range Resources’ current full-year earnings is $2.62 per share. Capital One Financial also issued estimates for Range Resources’ Q3 2023 earnings at $0.52 EPS, Q4 2023 earnings at $0.52 EPS and FY2023 earnings at $2.24 EPS.
RRC has been the subject of a number of other reports. Mizuho dropped their price objective on shares of Range Resources from $32.00 to $29.00 in a research note on Friday, March 10th. Piper Sandler dropped their price target on Range Resources from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 7th. Morgan Stanley dropped their target price on shares of Range Resources from $24.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday. Wells Fargo & Company lifted their price objective on shares of Range Resources from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, March 6th. Finally, Roth Capital restated a “neutral” rating on shares of Range Resources in a report on Wednesday, February 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average price target of $33.74.
Range Resources Stock Up 1.5 %
RRC opened at $25.06 on Wednesday. The company has a market capitalization of $6.03 billion, a PE ratio of 5.32, a PEG ratio of 0.33 and a beta of 2.12. The firm’s 50 day simple moving average is $25.25 and its two-hundred day simple moving average is $26.48. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.64. Range Resources has a 1-year low of $22.61 and a 1-year high of $37.44.
Range Resources Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, March 14th. Range Resources’s dividend payout ratio (DPR) is 6.79%.
Hedge Funds Weigh In On Range Resources
Hedge funds and other institutional investors have recently bought and sold shares of the business. PDT Partners LLC purchased a new position in shares of Range Resources during the second quarter worth $901,000. Quantbot Technologies LP acquired a new position in shares of Range Resources in the 2nd quarter valued at about $371,000. Third Point LLC purchased a new stake in shares of Range Resources in the third quarter worth about $98,514,000. AlphaCrest Capital Management LLC acquired a new stake in Range Resources during the second quarter worth about $740,000. Finally, Profund Advisors LLC raised its position in Range Resources by 126.7% during the third quarter. Profund Advisors LLC now owns 21,054 shares of the oil and gas exploration company’s stock valued at $532,000 after acquiring an additional 11,766 shares in the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.
Range Resources Company Profile
Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.
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