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Last $39.34 USD
Change Today -0.51 / -1.28%
Volume 6.2M
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

range resources corp (RRC) Snapshot

Open
$39.44
Previous Close
$39.85
Day High
$40.20
Day Low
$39.11
52 Week High
08/26/14 - $79.38
52 Week Low
07/30/15 - $39.05
Market Cap
6.7B
Average Volume 10 Days
6.0M
EPS TTM
$0.70
Shares Outstanding
169.4M
EX-Date
06/12/15
P/E TM
55.8x
Dividend
$0.16
Dividend Yield
0.41%
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 Earnings and Production Results for Second Quarter of 2015; Provides Production Guidance for Third Quarter of 2015 and Capital Budget Guidance for Full Year 2015

Range Resources Corporation announced earnings and production results for second quarter of 2015. The company reported GAAP revenues for the second quarter of 2015 totaled $248 million, a 68% decrease as compared to second quarter 2014, GAAP net cash provided from operating activities including changes in working capital reached $160 million and GAAP earnings was a loss of $119 million or $0.71 loss per diluted share versus earnings of $171 million or $1.04 per diluted share in the prior-year quarter. Second quarter 2015 results included $35 million in derivative losses due to increases in future commodity prices, compared to a $24 million loss in the second quarter of 2014. Non-GAAP revenues for second quarter 2015 totaled $405 million, a 16% decrease compared to second quarter 2014 and cash flow from operations before changes in working capital, a non-GAAP measure, was $161 million. Adjusted net income comparable to analysts' estimates, a non-GAAP measure, was $2 million or $0.01 per diluted share for the second quarter 2015, compared to $59 million or $0.36 per diluted share in the prior-year quarter. For the second quarter drilling expenditures of $262 million funded the drilling and recompletion of 68 (66 net) wells with a 100% drilling success rate. In addition, during the second quarter, $23 million was expended on acreage, $2 million on gas gathering systems and $4 million for exploration expense. For the second quarter, the company production volumes reached a, averaging 1,373 Mmcfe per day, a 24% increase over the prior-year quarter. Unit costs declined $0.36 per mcfe, or 11% compared to the prior-year quarter. For third quarter of 2015 Production growth is targeted at 20% year-over-year. Average daily production for the third quarter of 2015 is expected to be 1.39 to 1.40 Bcfe per day with 28% liquids. For full-year 2015 the company expects capital budget of $870 million.

Range Resources Cuts 11% of its Workforce

Range Resources Corp. cut 11% of its workforce in the year 2015 as it reduced costs to deal with low natural gas prices. In addition to about 60 jobs that were lost when it closed an Oklahoma City office in February, the company in May cut 41 jobs connected to conventional oil and gas wells from offices in Meadville, Yatesboro and Scottdale. About 500 employees and thousands of contractors remain in Pennsylvania, where Range is the fourth-largest shale gas producer. The company said it offered severance packages.

Range Resources Corporation Appoints Brenda A. Cline as a Director and on the Audit Committee of the Board

On July 7, 2015, the Board of Directors of Range Resources Corporation announced an increase to the size of the Board from ten to eleven members and the appointment of Brenda A. Cline to serve as a director of the company. Effective the same date, Ms. Cline has been appointed to serve on the Audit Committee of the Board. Ms. Cline has served as Executive Vice President, Chief Financial Officer and Secretary Treasurer of the Kimbell Art Foundation from 1993 to present. In addition, since 2004 she has been an independent trustee for American Beacon Funds and an independent director for Tyler Technologies. Ms. Cline has also been a contract author for Thomson Rueters from 1993 through 2013 and worked in various audit positions for Ernst and Young LLP from 1982 through 1993. The Company’s independent audit firm is Ernst and Young LLP. Ms. Cline received her bachelor of business administration degree from Texas Christian University.

 

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RRC Competitors

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Industry Analysis

RRC

Industry Average

Valuation RRC Industry Range
Price/Earnings 19.7x
Price/Sales 4.2x
Price/Book 1.9x
Price/Cash Flow 6.8x
TEV/Sales 2.1x
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