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Group 1 - Range Resources Corporation (NYSE:RRC) experienced a share price decline of 6.52% from December 3 to December 10, 2025, ranking among the energy stocks that lost the most during that week [1] - On December 8, JPMorgan downgraded Range Resources from 'Neutral' to 'Underweight' and reduced its price target from $44 to $39, following an update to its exploration and production ratings for 2026 [2] - The analyst noted that while there are supply side risks for oil and liquids, a demand inflection for natural gas has finally arrived, with natural gas prices near a three-year high [3] Group 2 - JPMorgan analyst Arun Jayaram indicated that Range Resources has lost its competitive edge due to expected decreases in Belvieu pricing next year, attributed to expanding dock capacity on the Gulf Coast [4] - The forecast for Range Resources' free cash flow yield for 2026-27 is expected to be below that of its peers in the broader exploration and production and gas sectors [4]

Core Viewpoint - JPMorgan downgraded Range Resources from Neutral to Underweight and reduced its price target from $44 to $39 due to a less compelling relative valuation amid cautious NGL fundamentals [1] Company Analysis - Range Resources and Antero indicated that their premium pricing relative to Mont Belvieu benchmarks is expected to compress next year as Gulf Coast dock capacity expands [2] - Despite a favorable view of Range's management and operational performance, JPMorgan noted that the company's valuation is now at a premium compared to peers based on current strip pricing [3] Financial Metrics - JPMorgan estimated free cash flow yields for Range of 8.7% and 8.8% for 2026-27, compared to 9.5% and 9.8% for the broader E&P group and 11.0% and 11.3% for gas-focused producers [3]

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Core Insights - Range Resources reported strong Q3 2025 earnings, with adjusted earnings of 57 cents per share, surpassing the Zacks Consensus Estimate of 50 cents and improving from 48 cents in the prior year [2] - Total revenues for the quarter reached $717.6 million, exceeding the Zacks Consensus Estimate of $691 million and up from $680.2 million year-over-year [2] Operational Performance - Average production was 2,227.8 million cubic feet equivalent per day (Mcfe/d), slightly higher than the previous year's 2,204.5 Mcfe/d but below the projected 2,256.4 Mcfe/d [4] - Natural gas constituted approximately 69% of total production, with a 2% year-over-year increase, while oil production decreased by 7% and NGL output fell by 1% [4] Price Realization - Total price realization averaged $2.98 per Mcfe, a 13% increase year-over-year, and higher than the estimated $2.95 per Mcfe [5] - Natural gas prices rose by 51% year-over-year to $2.56 per Mcf, while NGL and oil prices fell by 15% to $22.09 per barrel and $54.25 per barrel, respectively [5] Costs & Expenses - Total costs and expenses increased by 3% year-over-year to $565.2 million, slightly below the expected $566.6 million [6] - Transportation, gathering, processing, and compression costs decreased to $301 million from $306 million in the prior year, while depreciation, depletion, and amortization expenses rose to $93.8 million from $91.1 million [6] Capital Expenditure & Balance Sheet - Drilling and completion expenditures totaled $165 million, with an additional $16 million on acreage and $9 million on infrastructure and upgrades [7] - Total debt at the end of Q3 was reported at $1,216.8 million, net of deferred financing costs [7] Outlook - Range Resources updated its total production forecast for 2025 to approximately 2.23 billion cubic feet equivalent per day, with over 30% attributed to liquids production [8] - The capital budget for the year is expected to be between $650 million and $680 million [8] Estimate Trends - Since the earnings release, there has been a downward trend in fresh estimates, with the consensus estimate shifting down by 8.61% [9][10] - Range Resources currently holds a Zacks Rank 3 (Hold), indicating an expectation of in-line returns in the coming months [12] Industry Performance - Range Resources is part of the Zacks Oil and Gas - Exploration and Production - United States industry, where EQT Corporation has seen a 13.9% gain over the past month [13] - EQT reported revenues of $1.75 billion for the last quarter, reflecting a year-over-year increase of 26.7%, with an EPS of $0.52 compared to $0.12 a year ago [14]

Core Insights - Range Resources Corporation (NYSE:RRC) has garnered significant interest from hedge funds, positioning it among the top 12 commodity stocks to consider for investment [1] Financial Performance - In Q3 2025, Range Resources reported a diluted non-GAAP net income per share of $0.57, exceeding estimates by 9% and the Street's estimate by 7% due to stronger realizations and lower operating costs [5] - The company returned $56 million to shareholders through buybacks and maintained stable net debt at approximately $1.2 billion, alongside $21 million in dividends paid during the quarter [5] - Heavy capital spending of $190 million was recorded in Q3, representing about 29% of the full-year budget [5] Analyst Ratings and Price Targets - Piper Sandler reduced the price target for Range Resources from $39 to $37 while maintaining a "Neutral" rating, reflecting updated models post-Q3 results [2] - Raymond James raised its price target from $41 to $42, maintaining an "Outperform" rating, citing a 9% earnings estimate beat despite lower-than-expected NGL realization guidance [3] Production and Future Outlook - Range Resources raised its 2025 production guidance to 2.23 billion cubic feet equivalent (Bcfe) per day, slightly up from the previous estimate of 2.225 Bcfe per day, and expects steady free cash flow generation through 2027 [6] - The company demonstrated steady execution across capital, production, and pricing, achieving its operating targets while maintaining tight spending, which bolstered analyst confidence in its three-year free cash flow outlook [4]

Core Insights - Oppenheimer Asset Management Inc. increased its stake in Range Resources Corporation by 36.1% in Q2, owning 15,955 shares valued at $649,000 after acquiring an additional 4,230 shares [2] - Other institutional investors also increased their holdings, with GAMMA Investing LLC up by 4.7%, Public Employees Retirement System of Ohio by 0.4%, and Bessemer Group Inc. by 48.0% [3] - Range Resources reported a quarterly EPS of $0.57, exceeding analysts' expectations, with revenue of $748.53 million, a 21.7% increase year-over-year [6] Institutional Investment - Oppenheimer Asset Management Inc. now holds 15,955 shares after a 36.1% increase [2] - GAMMA Investing LLC increased its holdings by 4.7%, owning 6,013 shares valued at $245,000 [3] - Public Employees Retirement System of Ohio owns 73,294 shares valued at $2,981,000 after a 0.4% increase [3] - Bessemer Group Inc. boosted its stake by 48.0%, now holding 971 shares valued at $39,000 [3] - Institutional investors collectively own 98.93% of Range Resources' stock [3] Analyst Ratings and Price Targets - Weiss Ratings downgraded Range Resources from "buy (b-)" to "hold (c+)" [4] - Morgan Stanley reduced its price target from $44.00 to $42.00, maintaining an "equal weight" rating [4] - Royal Bank Of Canada raised its target price from $45.00 to $46.00 with a "sector perform" rating [4] - The consensus rating for the stock is "Hold" with a target price of $41.95 [4] Stock Performance - Range Resources stock opened at $35.58, with a one-year low of $29.48 and a high of $43.50 [5] - The company has a market capitalization of $8.47 billion, a PE ratio of 14.95, and a beta of 0.51 [5] Financial Performance - The company reported a net margin of 19.64% and a return on equity of 15.99% [6] - Revenue for the quarter was $748.53 million, surpassing expectations of $721.22 million [6] - The anticipated EPS for the current year is 2.02 [6] Dividend Information - Range Resources announced a quarterly dividend of $0.09 per share, representing an annualized dividend of $0.36 and a yield of 1.0% [7] - The dividend payout ratio is currently 15.13% [7]

Core Insights - Range Resources Corporation (RRC) reported third-quarter 2025 adjusted earnings of 57 cents per share, exceeding the Zacks Consensus Estimate of 50 cents and improving from 48 cents in the prior year [1][9] - Total quarterly revenues reached $717.6 million, surpassing the Zacks Consensus Estimate of $691 million and increasing from $680.2 million year-over-year [1][9] Operational Performance - Production averaged 2,227.8 million cubic feet equivalent per day (Mcfe/d), slightly higher than the year-ago level of 2,204.5 Mcfe/d but below the projection of 2,256.4 Mcfe/d [3] - Natural gas contributed approximately 69% to total production, with natural gas production increasing by 2% year-over-year, while oil production decreased by 7% and NGL output fell by 1% [3] Price Realization - Total price realization averaged $2.98 per Mcfe, a 13% increase year-over-year, and higher than the estimate of $2.95 per Mcfe [4] - Natural gas prices rose by 51% year-over-year to $2.56 per Mcf, while NGL prices declined by 15% to $22.09 per barrel, and oil prices fell by 15% to $54.25 per barrel [4] Costs & Expenses - Total costs and expenses increased by 3% year-over-year to $565.2 million, slightly lower than the expectation of $566.6 million [5] - Transportation, gathering, processing, and compression costs decreased to $301 million from $306 million in the prior-year quarter, while depreciation, depletion, and amortization expenses rose to $93.8 million from $91.1 million [5] Capital Expenditure & Balance Sheet - Drilling and completion expenditure amounted to $165 million, with an additional $16 million spent on acreage and $9 million on infrastructure and upgrades [6] - At the end of the third quarter, total debt was reported at $1,216.8 million, net of deferred financing costs [6] Outlook - Range Resources reiterated its total production guidance for 2025 at approximately 2.225 billion cubic feet equivalent per day, with over 30% attributed to liquids production [7] - The company's capital budget for the year is expected to be in the range of $650-$680 million [7]

Financial Performance - Third quarter 2025 GAAP revenues totaled $749 million, with net income of $144 million ($0.60 per diluted share) and cash flow from operations of $248 million[6]. - Total revenues and other income for Q3 2025 were $748.528 million, representing a 22% increase compared to $615.102 million in Q3 2024[40]. - Net income for Q3 2025 was $144.307 million, a significant increase of 185% from $50.656 million in Q3 2024[40]. - The company reported a net income per common share of $0.61 for Q3 2025, up from $0.21 in Q3 2024[40]. - Net income for the three months ended September 30, 2025, was $144,307 thousand, a substantial increase of 185% compared to $50,656 thousand for the same period in 2024[46]. - Adjusted earnings per diluted share for Q3 2025 was $0.57, compared to $0.48 in Q3 2024, reflecting an increase of 18.75%[55]. - Income from operations before income taxes surged by 177% to $183,344,000 in Q3 2025 from $66,229,000 in Q3 2024[53]. - The company reported a 33% increase in income before income taxes, as adjusted, for the nine months ended September 30, 2025, totaling $681,877,000 compared to $512,798,000 in 2024[53]. Cash Flow and Capital Expenditures - Cash flow from operations before changes in working capital was $279 million, and adjusted net income was $135 million ($0.57 per diluted share) for the quarter[7]. - Capital spending for the quarter was $190 million, representing approximately 29% of the annual 2025 budget, with total capital spending through Q3 at $491 million (74% of the 2025 budget)[14]. - The company repurchased $56 million in shares and paid $21 million in dividends during the quarter[8]. - Net cash provided from operating activities for the nine months ended September 30, 2025, reached $913,818 thousand, up 25.7% from $726,624 thousand in 2024[46]. - The company reported a cash margin of $982,779,000 for the nine months ended September 30, 2025, up from $800,236,000 in 2024, representing a growth of 22.8%[58]. Production and Sales - Average production for the quarter was 2.23 Bcfe per day, with approximately 69% being natural gas[8]. - Natural gas, NGLs, and oil sales for Q3 2025 reached $611.491 million, a 14.7% increase from $533.277 million in Q3 2024[40]. - Natural gas sales increased by 54% to $361,124,000 in Q3 2025 from $234,139,000 in Q3 2024[50]. - Oil sales rose by 15% to $611,491,000 in Q3 2025 compared to $533,277,000 in Q3 2024[50]. - The company produced 204,961 MMCFE in Q3 2025, slightly higher than 202,810 MMCFE in Q3 2024, showing a marginal increase of 0.6%[57]. - Total natural gas, NGLs, and oil sales reported a 31% increase, reaching $1,249,456,000 for the nine months ended September 30, 2025, up from $715,266,000 in the same period of 2024[50]. Debt and Liabilities - As of September 30, 2025, net debt was approximately $1.23 billion, with $839 million available under the share repurchase program[12][13]. - Total debt decreased by 28% to $1,216,767 thousand as of September 30, 2025, compared to $1,697,883 thousand at the end of 2024[44]. - Net debt, a non-GAAP measure, declined by 12% to $1,228,825 thousand from $1,404,212 thousand year-over-year[44]. - Current liabilities significantly reduced to $591,453 thousand, down 53% from $1,263,247 thousand at the end of 2024[43]. Pricing and Market Conditions - Realized price for natural gas, including hedges, was $3.29 per mcfe, with a $0.22 premium over NYMEX natural gas[8]. - Range expects to improve its natural gas differential to average ($0.40) to ($0.43) relative to NYMEX in 2025[11]. - Average natural gas price per mcf rose by 51% to $2.56 in Q3 2025 from $1.69 in Q3 2024[50]. - Average oil price per bbl decreased by 15% to $54.25 in Q3 2025 from $64.03 in Q3 2024[50]. Expenses - Total costs and expenses for Q3 2025 were $565.184 million, a slight increase of 3% from $548.873 million in Q3 2024[40]. - The company’s transportation, gathering, processing, and compression expenses for Q3 2025 were $301.110 million, down from $306.154 million in Q3 2024[40]. - The company’s interest expense for Q3 2025 was $23.200 million, a decrease from $27.958 million in Q3 2024[40]. - The company’s exploration expenses for Q3 2025 were $7.820 million, an increase from $6.988 million in Q3 2024[40]. - Transportation, gathering, processing, and compression expense per mcfe decreased by 3% to $1.47 in Q3 2025 from $1.51 in Q3 2024[50].

Core Insights - The article highlights a free two-week trial offer for the investment group Distressed Value Investing, which provides exclusive research on various companies and investment opportunities [1]. Group 1 - The investment group Distressed Value Investing focuses on value opportunities and distressed plays, particularly in the energy sector [2]. - Aaron Chow, known as Elephant Analytics, has over 15 years of analytical experience and is a top-rated analyst on TipRanks, previously co-founding a mobile gaming company that was acquired by PENN Entertainment [2]. - The group claims to have a portfolio of historic research that includes over 1,000 reports on more than 100 companies [1].