Range Resources remains a top pick due to extensive low-cost reserves, strong pricing power, and a commitment to shareholder returns. Improved natural gas fundamentals and tight supply-demand dynamics support significant upside potential, especially if prices stay elevated. Despite high volatility, RRC could achieve triple-digit stock prices, potentially reaching $200 under favorable conditions over the next 10-15 years.
Range Resources (RRC) reported earnings 30 days ago. What's next for the stock?
Higher prices of natural gas are highly beneficial for companies like Range Resources Corporation, Antero Resources Corporation and Comstock Resources Inc.
RRC boasts decades of low-risk drilling inventory in Appalachia, strengthening its production outlook. However, the stock is exposed to gas price volatility.
Range Resources' Q3-2024 results exceeded expectations, driving a 3.5% stock price increase with significant trading volume. The company benefits from low-cost production and strategic positioning in the Marcellus Shale, ensuring competitive advantage and profitability. Despite commodity price risks, effective hedging strategies mitigate potential negative impacts on the company's financials.
Range increased its production guidance by 1% with its Q3 2024 report. It has also made progress with reducing costs, and its current guidance has costs around $0.06 per Mcfe lower than initial guidance. Range's 2024 free cash flow is driven by its hedges.
Range Resources Corporation (NYSE:RRC ) Q3 2024 Results Conference Call October 23, 2024 9:00 AM ET Company Participants Laith Sando - Vice President, Investor Relations Dennis Degner - Chief Executive Officer Mark Scucchi - Chief Financial Officer Alan Engberg - Vice President Liquid Marketing Conference Call Participants Scott Hanold - RBC Neil Mehta - Goldman Sachs & Company Doug Leggate - Wolfe Research Jacob Roberts - TPH & Company Kevin McCurdy - Pickering Energy Partners Roger Read - Wells Fargo Securities Bertrand Donnes - Truist Michael Scialla - Stephens Leo Mariani - Roth Paul Diamond - Citi Operator Hello. Welcome to the Range Resources Third Quarter 2024 Earnings Conference Call.
Range Resources' Q3 earnings benefit from increased production volumes and higher realized prices for natural gas liquids.
Range Resources (RRC) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.46 per share a year ago.
Range Resources (RRC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
As the United States boosts LNG exports, tighter domestic natural gas supply will drive up prices, benefiting RRC, EQT and AR.
RRC boasts decades of low-risk drilling inventory in Appalachia, brightening its production outlook. However, the stock is exposed to gas price volatility.