Range Resources Stock Price, News & Analysis

On April 24, 2023, Range Resources Corporation (NYSE: RRC) reported strong first-quarter financial results, highlighting robust operational performance. Key figures include cash flow from operating activities of $475 million and a net income of $481 million ($1.95 per diluted share). The company executed share repurchases totaling 400,000 shares at an average price of $24.16. Production averaged 2.14 Bcfe per day, approximately 70% of which was natural gas. Price realizations for natural gas reached $4.00 per mcfe, showing a $0.54 premium over NYMEX. For 2023, Range anticipates maintaining production levels while managing capital expenditures projected between $570 million and $615 million. The company is focused on maximizing efficiency and delivering long-term shareholder value.

Range Resources Corporation (NYSE: RRC) will release its first quarter 2023 financial results on April 24 after market close. The results will be discussed in a conference call scheduled for April 25 at 9:00 a.m. ET. Investors can access the call via a webcast on the company's website, which will remain available for replay until May 25, 2023. Range Resources is a premier independent producer of natural gas and NGL, with operations in the Appalachian Basin. Their financial performance will be closely monitored as it reflects the company's position in the energy sector.

Range Resources Corporation (NYSE: RRC) announced the retirement of CEO Jeff Ventura, effective June 2, 2023, after nearly 20 years with the company. Dennis Degner, currently the Executive VP and COO, will take over as President and CEO at the annual shareholder meeting on May 10, 2023. Degner, who has over 25 years in shale gas development, has played a key role in the company’s success in the Marcellus Shale. The Board has also promoted Mark S. Scucchi to Executive VP and CFO, recognizing his contributions to the company’s financial management. This leadership transition aims to sustain Range's strong performance and shareholder value.

Range Resources Corporation (NYSE: RRC) has declared a quarterly cash dividend of $0.08 per common share for the first quarter of 2023. This dividend is payable on March 31, 2023, to stockholders of record as of March 15, 2023. As a prominent independent producer of natural gas and NGL, Range operates mainly within the Appalachian Basin. The board's decision reflects a commitment to returning value to shareholders while indicating the company's stable financial position.

Range Resources Corporation (NYSE: RRC) reported its fourth quarter 2022 results, with a record $1.9 billion in cash flow and $1.5 billion returned to shareholders via share repurchases and debt reduction. Average production reached 2,121 Mmcfe per day, while the capital spending totaled $492 million. Proved reserves stood at 18.1 Tcfe, with future net cash flow estimated at $24.5 billion. The 2023 capital budget is set between $570 million to $615 million to maintain production levels. The company also enhanced its hedge positions for 2023 and 2024 to secure cash flows. CEO Jeff Ventura emphasized the company's strong financial position and plans for future growth.

Range Resources Corporation (NYSE: RRC) reported a 2% increase in year-end 2022 proved reserves, totaling 18.1 trillion cubic feet equivalent (Tcfe), alongside a present value (PV₁₀) of $29.6 billion. The reserves comprise 65.3% natural gas, 33.3% natural gas liquids, and 1.4% crude oil. The company identified 367 proven undeveloped locations within its five-year plan, supporting its asset quality. Notably, 1.7 Tcfe of reserves were added through operational performance, marking 15 consecutive years of positive revisions. However, 1,381 Bcfe was reclassified from proved undeveloped to unproved due to SEC regulations.