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Last $58.64 USD
Change Today -0.09 / -0.15%
Volume 1.1M
RRC On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

range resources corp (RRC) Snapshot

Open
$58.23
Previous Close
$58.73
Day High
$59.47
Day Low
$58.00
52 Week High
06/9/14 - $94.26
52 Week Low
03/13/15 - $43.88
Market Cap
9.9B
Average Volume 10 Days
2.4M
EPS TTM
$1.17
Shares Outstanding
169.1M
EX-Date
03/12/15
P/E TM
50.0x
Dividend
$0.16
Dividend Yield
0.27%
Current Stock Chart for RANGE RESOURCES CORP (RRC)

range resources corp (RRC) Related Businessweek News

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range resources corp (RRC) Details

Range Resources Corporation, an independent natural gas, natural gas liquids (NGLs), and oil company, engages in the acquisition, exploration, and development of natural gas and oil properties in the United States. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and Midcontinent regions. The company owns 7,582 net producing wells and approximately 1.4 million net acres under lease in the Appalachian region; and 653 net producing wells and approximately 383,000 net acres under lease in the Midcontinent region. In addition, it provides gas gathering and transportation from southwestern and northeastern Pennsylvania. The company 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, 2014, it had proved reserves of 10.3 trillion cubic feet of natural gas equivalents. 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.

990 Employees
Last Reported Date: 02/24/15
Founded in 1975

range resources corp (RRC) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $904.3K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $479.3K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $479.6K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $388.5K
Senior Vice President of Corporate Developmen...
Total Annual Compensation: $397.7K
Compensation as of Fiscal Year 2014.

range resources corp (RRC) Key Developments

Range Resources Corporation Announces Pricing of Senior Notes

Range Resources Corporation announced that it has priced at par an offering of $750 million aggregate principal amount of senior notes due 2025, which will carry an interest rate of 4.875%. Range expects that the net proceeds of the offering will be approximately $738 million and intends to use the net proceeds to repay borrowings under its bank credit facility pending its intended redemption of all of its 6 3/4% senior subordinated notes due 2020, which it expects to complete in August 2015 using borrowings under its bank credit facility. Range expects to close the sale of the notes on May 14, 2015, subject to the satisfaction of customary closing conditions. The size of the offering was increased from the previously announced $500 million to $750 million. The notes will not be registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The notes may be resold by the initial purchasers pursuant to Rule 144A and Regulation S under the Securities Act. The securities have been offered only to qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S. This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy any of the senior notes referred to above. There shall not be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Range Resources Corporation Intends to Offer $500 Million Senior Notes Due 2025

Range Resources Corporation announced that it intends, subject to market conditions, to offer $500 million in aggregate principal amount of senior notes due 2025 in a private placement to eligible purchasers. The company intends to use the net proceeds to repay borrowings under its bank credit facility pending its intended redemption of all of its 6 3/4% senior subordinated notes due 2020, which it expects to complete in August 2015 using borrowings under its bank credit facility. The notes will not be registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The notes may be resold by the initial purchasers pursuant to Rule 144A and Regulation S under the Securities Act.

Range Resources Corporation Reports Unaudited Earnings and Production Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for Second Quarter and Full Year of 2015; Provides Capital Expenditure Guidance for the Full Year of 2015; Provides Impairment Guidance for the Full Year of 2015

Range Resources Corporation reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues and other income of $462,632,000 compared to $457,342,000 a year ago. Income before income taxes was $50,050,000 compared to loss of $51,478,000 a year ago. Net income was $27,684,000 or $0.16 per diluted share compared to $32,521,000 or $0.20 per diluted share a year ago. Net cash provided from operating activities were $210,638,000 compared to $181,221,000 a year ago. Non-GAAP revenues for first quarter 2015 totaled $437 million, a 13% decrease compared to first quarter 2014. Income from operations before income taxes, as adjusted was $50,235,000 compared to $117,261,000 a year ago. Non-GAAP net income was $30,936,000 or $0.19 per diluted share compared to $74,076,000 or $0.46 per diluted share a year ago. First quarter drilling expenditures of $262 million funded the drilling and recompletion of 35 (31 net) wells. A 100% drilling success rate was achieved. In addition, during the first quarter, $13.4 million was expended on acreage, $2.2 million on gas gathering systems and $7.2 million for exploration expense. First quarter 2015 natural gas, NGLs and oil price realizations averaged $3.54 per mcfe, a 28% decrease from the prior-year quarter. Production and realized prices for each commodity for the first quarter of 2015 were: natural gas – 894 Mmcf per day ($3.54 per mcf), NGLs – 59,548 barrels per day ($12.20 per barrel) and crude oil and condensate – 12,655 barrels per day ($64.06 per barrel). The company provided production guidance for second quarter of 2015. Average daily production for the second quarter of 2015 is expected to be 1.345 Bcfe per day, with 30% liquids. Production growth for 2015 is targeted at 20% year-over-year.  The company provided capital expenditure guidance for the year 2015. For the year, the company is track with its 2015 capital expenditure budget of $870 million. Interest expense expected to be $0.33 to $0.34 per mcfe. For the year 2015, the company’s unproved property impairment expense expected to be $12 million to $14 million.

 

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Industry Analysis

RRC

Industry Average

Valuation RRC Industry Range
Price/Earnings 15.7x
Price/Sales 5.5x
Price/Book 2.8x
Price/Cash Flow 7.8x
TEV/Sales 3.7x
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