Based on several factors impacting the natural gas market, we recommend investors hold on to stocks like RRC and AR.
The current market is highly valued, making it difficult to find bargains, even in previously undervalued sectors like real estate. Energy stocks, particularly natural gas producers like Range Resources, present attractive opportunities due to low prices and high-quality business models. Range Resources is undervalued, with strong free cash flow, a solid balance sheet, and a dividend, making it a compelling buy despite recent price declines.
Range Resources (RRC) reported earnings 30 days ago. What's next for the stock?
Range Resources reported mixed H1-2024 results, with lower revenues but higher earnings per share. Stock performance shows stability, with a 3% YTD decrease and 11% YOY increase. Range Resources has competitive advantages in low operating costs, efficient operations, and diversified market outlets, positioning it well for future growth.
Range Resources Corporation (NYSE:RRC ) Q2 2024 Earnings Conference Call July 24, 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 Roger Read - Wells Fargo Michael Scialla - Stephens Doug Leggate - Wolfe Research Jake Roberts - TPH & Company Scott Hanold - RBC Neil Mehta - Goldman Sachs Arun Jayaram - JPMorgan Paul Diamond - Citi Operator Welcome to the Range Resources Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Statements made during this conference call that are not historical facts are forward-looking statements.
Range Resources (RRC) records strong Q2 earnings on the back of higher gas equivalent production. Further, approximately 69% of the total production consists of natural gas.
Range Resources (RRC) came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.30 per share a year ago.
While gas price did not reach the June quarter of 2022 levels of more than $6 per million Btu, increased production may have mitigated the negative impacts on Range Resources' (RRC) Q2 earnings.
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.
Range Resources (RRC) boasts decades of low-risk drilling inventory in Appalachia, brightening its production outlook.
AI is revolutionizing energy demand, particularly boosting natural gas, as data centers and other applications require more power. This shift is creating exciting opportunities in the natural gas sector. I highlight three outstanding natural gas companies. They share extensive low-cost reserves, strong cash flow, and strategic locations, making them prime beneficiaries of AI-driven energy needs. These companies stand out due to their low operating costs, impressive production growth, and generous dividends.