Last $68.76 USD
Change Today -0.15 / -0.22%
Volume 1.7M
RRC On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

range resources corp (RRC) Snapshot

Open
$68.54
Previous Close
$68.91
Day High
$69.11
Day Low
$67.67
52 Week High
04/24/14 - $95.41
52 Week Low
10/15/14 - $61.33
Market Cap
11.6B
Average Volume 10 Days
2.1M
EPS TTM
$2.02
Shares Outstanding
168.7M
EX-Date
09/11/14
P/E TM
34.1x
Dividend
$0.16
Dividend Yield
0.23%
Current Stock Chart for RANGE RESOURCES CORP (RRC)

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range resources corp (RRC) Details

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company acquires, explores, and develops natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and Southwestern regions. The company owns 6,136 net producing wells; and approximately 1.6 million gross acres under lease in the Appalachian region. It also owns 1,538 net producing wells; and approximately 710,000 gross acres under lease in the Southwestern region. In addition, the company owns gas gathering and transportation pipelines. Range Resources Corporation sells natural gas to utilities, marketing and mid-stream companies, and industrial users; NGLs to natural gas processors or users of NGLs; and oil and condensate to crude oil processors, transporters, and refining and marketing companies. As of December 31, 2013, it had proved reserves of 8.2 Tcfe. The company was formerly known as Lomak Petroleum, Inc. and changed its name to Range Resources Corporation in 1998. Range Resources Corporation was founded in 1975 and is headquartered in Fort Worth, Texas.

867 Employees
Last Reported Date: 02/26/14
Founded in 1975

range resources corp (RRC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $864.4K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $453.7K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $446.0K
Senior Vice President of Corporate Developmen...
Total Annual Compensation: $371.5K
Compensation as of Fiscal Year 2013.

range resources corp (RRC) Key Developments

Range Resources Corporation Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Production Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Production Guidance for the Fourth Quarter and Full Year of 2014; Provides Capital Expenditure Guidance for the Year of 2014; Provides Impairment Guidance for the Fourth Quarter of 2014

Range Resources Corporation reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues and other income of $616,615,000 compared to $442,038,000 a year ago. Income from continuing operations before income taxes was $239,940,000 compared to $31,044,000 a year ago. Net income was $146,418,000 or $0.86 per diluted share compared to $19,178,000 or $0.12 per diluted share a year ago. Net cash provided from operating activities were $213,415,000 compared to $222,977,000 a year ago. Total revenues, as adjusted, non-GAAP was $491,159,000 compared to $433,988,000 a year ago. Income from operations before income taxes, as adjusted was $101,847,000 compared to $93,039,000 a year ago. Non-GAAP net income excluding certain items was $62,151,000 or $0.37 per basic and diluted share compared to $57,477,000 or $0.36 per basic and diluted share a year ago. Adjusted cash flow reached $257 million, 5% increase compared to third quarter of 2013. For the nine months, the company reported total revenues and other income of $1,839,481,000 compared to $1,434,633,000 a year ago. Income from continuing operations before income taxes was $580,783,000 compared to $149,731,000 a year ago. Net income was $350,328,000 or $2.10 per diluted share compared to $87,551,000 or $0.53 per diluted share a year ago. Net cash provided from operating activities were $654,938,000 compared to $502,866,000 a year ago. Total revenues, as adjusted, non-GAAP was $1,473,297,000 compared to $1,280,437,000 a year ago. Income from operations before income taxes, as adjusted was $319,433,000 compared to $271,474,000 a year ago. Non-GAAP net income excluding certain items was $195,648,000 or $1.20 per basic and diluted share compared to $165,541,000 or $1.03 per basic and diluted share a year ago. The company produced a record average of 1,209 Mmcfe per day during the third quarter, consisting of 822.4 Mmcf per day of gas, 53,640 barrels of NGLs and 10,710 barrels per day of oil and condensate. Third quarter 2014 production exceeded the prior year quarter by 26% and the previous quarter by 9.4%. The company produced a record average of 1,123.692 Mmcfe per day during the nine months ended September 30, 2014, consisting of 752,544 Mmcf per day of gas, 50,832 barrels of NGLs and 11,026 barrels per day of oil and condensate against total gas equivalent of 915,567 Mmcfe per day during the nine months ended September 30, 2013, consisting of 714,194 Mmcf per day of gas, 23,323 barrels of NGLs and 10,239 barrels per day of oil and condensate. Production guidance for the fourth quarter is 1,350 Mmcfe per day, with 30% liquids. Annual production growth beyond 2014 is expected to be in the range of 20% to 25%. The company expects 2014 capital expenditure budget of $1.52 billion. For the fourth quarter of 2014, the company expects unproved property impairment expense to be in a range of $15 million to $18 million.

Range Resources Corporation Announces New Credit Facility

Range Resources Corporation announced that it has amended and restated its revolving credit facility. The new five-year agreement with a syndicate of twenty-nine financial institutions has a maximum facility size of $4 billion, with an initial borrowing base of $3 billion and $2 billion in commitments. This represents an increase in the borrowing base of $1 billion and increased commitments of $250 million. The agreement also reduces drawn borrowing costs by 25 basis points and grants Range the option to release all collateral upon the receipt of a single investment grade rating. The maturity of this facility was extended to October 16, 2019.

Range Resources Corp. Signs Lease Agreement

Range Resources Corp. and Allegheny County announced that it have signed a lease enabling the energy company to drill for natural gas under Deer Lakes Park. Allegheny County received $4.7 million in bonus payments and 20% of a $3 million parks improvement fund. Of the combined $7.7 million sum, the large amount, more than $3 million, is earmarked for improvements in the nine county parks in 2014. The remainder goes to Deer Lakes and into the county's reserves.

 

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Industry Analysis

RRC

Industry Average

Valuation RRC Industry Range
Price/Earnings 31.0x
Price/Sales 5.7x
Price/Book 3.7x
Price/Cash Flow 12.2x
TEV/Sales 4.3x
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