Range Resources: Navigating A Weak Natural Gas Market [Seeking Alpha]
Range Resources Corporation (RRC)
Last range resources corporation earnings: 4/30 05:30 pm
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US:NYSE Investor Relations:
ir.rangeresources.com
Company Research
Source: Seeking Alpha
The company has low breakevens and a solid hedge book for 2024. RRC is largely a capital allocation story, using its free cash flow to pay down debt and buy back shares. I initially started coverage of Range Resources ( NYSE: RRC ) back in February of 2023 with a “Hold” rating, saying that low natural gas prices were likely to hamper the company the rest of the year. Gas prices have been pretty weak, but RRC's stock has managed to gain over 40% since my write-up. Let's catch up with the company following its recent Q4 earnings report. Company Profile As a refresher, RRC is a natural gas E&P. The company primarily operates in the Marcellus Shale in Pennsylvania. It has 753,000 net acres under lease in the basin, including ~440,000 net acres in southwest Pennsylvania and ~70,000 net acres in northeast Pennsylvania. At the end of 2023, RRC had proved reserves of 18.1 Tcfe, which was flat compared to 2022. Approximately 64% of its reserves are natural gas, 34% natural gas liqui
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RRC
News
- Range Resources Co. (NYSE: RRC) had its "buy" rating re-affirmed by analysts at Mizuho. They now have a $41.00 price target on the stock, up previously from $39.00.MarketBeat
- Range Resources Co. (NYSE: RRC) was downgraded by analysts at Royal Bank of Canada from an "outperform" rating to a "sector perform" rating. They now have a $39.00 price target on the stock, up previously from $36.00.MarketBeat
- Range Resources Corporation (NYSE:RRC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Range Resources (RRC) Q1 Earnings Beat on Gas Production [Yahoo! Finance]Yahoo! Finance
- Range Resources Co. (NYSE: RRC) had its "hold" rating re-affirmed by analysts at Benchmark Co..MarketBeat
RRC
Earnings
- 4/23/24 - Beat
RRC
Sec Filings
- 4/25/24 - Form 4
- 4/25/24 - Form 144
- 4/24/24 - Form 8-K
- RRC's page on the SEC website