Company Overview - Range Resources (RRC) shares have increased by approximately 3.4% over the past month, outperforming the S&P 500 [1] - The most recent earnings report is crucial for understanding the catalysts affecting the stock [1] Earnings Estimates - Estimates for Range Resources have trended downward in the past month [2] - The stock has a Zacks Rank of 3 (Hold), indicating expectations for an in-line return in the coming months [4] VGM Scores - Range Resources has a subpar Growth Score of D, a Momentum Score of A, and a Value Score of D, placing it in the bottom 40% for the value investment strategy [3] Industry Performance - Range Resources is part of the Zacks Oil and Gas - Exploration and Production - United States industry [5] - Cheniere Energy (LNG), another player in the same industry, has seen a 6.2% increase in its stock price over the past month [5] - Cheniere Energy reported revenues of $4.44 billion for the last quarter, reflecting an 8% year-over-year decline, with an EPS of $4.33 compared to $5.76 a year ago [6]

Group 1 - The article emphasizes the importance of providing alpha-generating investment ideas and encourages readers to evaluate the author's performance based on past results [1] - The investment strategy is generalist, focusing on sectors with perceived alpha potential compared to the S&P 500, with typical holding periods ranging from a few quarters to multiple years [1] - The article suggests reviewing the ratings history of published articles as an indicator of the author's investment skill and the effectiveness of recommendations [1] Group 2 - The author has disclosed a beneficial long position in shares of RRC and VOO, indicating a personal investment interest in these stocks [2] - The article expresses the author's personal opinions and clarifies that no compensation is received from companies mentioned, ensuring independence in analysis [2] - Seeking Alpha's disclosure notes that past performance does not guarantee future results and that the views expressed may not reflect the platform's overall stance [3]

Core Viewpoint - Investors in the Oil and Gas - Exploration and Production sector should consider Permian Resources (PR) and Range Resources (RRC) for potential value investment opportunities [1] Valuation Metrics - Permian Resources has a forward P/E ratio of 8.04, while Range Resources has a forward P/E of 12.14 [5] - The PEG ratio for PR is 3.62, compared to RRC's PEG ratio of 4.67, indicating PR may have better growth prospects relative to its valuation [5] - PR's P/B ratio is 1.04, significantly lower than RRC's P/B of 2.39, suggesting PR is more undervalued based on book value [6] Earnings Outlook - Permian Resources is currently experiencing an improving earnings outlook, which enhances its attractiveness in the Zacks Rank model [7] - The Zacks Rank for PR is 2 (Buy), while RRC holds a Zacks Rank of 3 (Hold), indicating a stronger positive earnings estimate revision trend for PR [3]

Core Insights - Range Resources (NYSE: RRC) reported 2024 results that met expectations and provided formal guidance for 2025, indicating stability in performance [2] - The 2025 guidance aligns closely with prior modeling, although it anticipates slightly lower prices for Natural Gas Liquids (NGLs) [2] Company Overview - Range Resources is focused on the energy sector, particularly in the context of value opportunities and distressed plays [2] - The company has a significant analytical backing, with insights from experienced analysts like Aaron Chow, who has over 15 years of experience [2] Analyst Background - Aaron Chow, known as Elephant Analytics, co-founded a mobile gaming company that was acquired by PENN Entertainment and has a strong analytical background [2] - The Distressed Value Investing group, led by Chow, emphasizes both value opportunities and distressed investments within the energy sector [2]

Core Viewpoint - Range Resources Corporation announced a quarterly cash dividend increase of 12.5%, reflecting the company's strong financial performance and commitment to returning value to shareholders [1]. Group 1: Dividend Announcement - The Board of Directors declared a quarterly cash dividend of $0.09 per common share [1]. - The dividend is payable on March 28, 2025, to stockholders of record as of March 14, 2025 [1]. - This increase results in an annualized dividend of $0.36 per share [1]. Group 2: Company Overview - Range Resources Corporation is a leading independent natural gas and NGL producer in the U.S., primarily operating in the Appalachian Basin [2]. - The company is headquartered in Fort Worth, Texas [2].

Core Viewpoint - Range Resources Corporation has appointed Christian S. Kendall to its Board of Directors, effective February 27, 2025, to enhance its governance and strategic initiatives in the energy sector [1][2]. Group 1: Appointment Details - Christian S. Kendall will serve on Range's Governance and Nominating and ESG and Safety Committees [1]. - Mr. Kendall has over 30 years of experience in the oil and gas industry, including leadership roles at Denbury Inc. and Noble Energy [2][3]. Group 2: Background and Expertise - Prior to his appointment, Mr. Kendall was the President and CEO of Denbury Inc. until its acquisition by Exxon Mobil Corporation in November 2023 [2]. - He has held various leadership positions at Noble Energy for 14 years, focusing on global operations [3]. - Mr. Kendall began his career in the energy sector at Mobil Corporation in 1989 [3]. Group 3: Educational Qualifications - Mr. Kendall holds a Bachelor of Science in Engineering, Civil Specialty from the Colorado School of Mines and completed the Advanced Management Program at Harvard Business School [4]. Group 4: Company Overview - Range Resources Corporation is a leading independent natural gas and NGL producer in the U.S., primarily operating in the Appalachian Basin [5].

Core Insights - Range Resources Corporation (RRC) reported fourth-quarter 2024 adjusted earnings of 68 cents per share, exceeding the Zacks Consensus Estimate of 51 cents and improving from 63 cents in the prior year [1] - Total quarterly revenues reached $750 million, surpassing the Zacks Consensus Estimate of $693 million and increasing from $715 million year-over-year [1] Operational Performance - Production averaged 2,202.5 million cubic feet equivalent per day (Mcfe/d), slightly lower than the prior-year level of 2,207.4 Mcfe/d but above the projection of 2,196.2 Mcfe/d [3] - Natural gas contributed approximately 68% to total production, with natural gas production decreasing by 2% year-over-year, oil production decreasing by 30%, and NGL output increasing by 7% [3] Price Realization - Total price realization averaged $3.13 per Mcfe, up 5% year-over-year and higher than the estimate of $2.74 per Mcfe [4] - Natural gas price increased by 8% year-over-year to $2.43 per Mcf, while NGL price rose by 6% and oil price fell by 12% [4] Costs & Expenses - Total costs and expenses increased by 1% year-over-year to $562 million, exceeding the expectation of $554.4 million [5] - Transportation, gathering, processing, and compression costs rose to $299.4 million from $283.1 million in the prior-year quarter [5] Capital Expenditure & Balance Sheet - Drilling and completion expenditure amounted to $124 million, with an additional $29 million spent on acreage leasehold and gathering systems [6] - Total debt at the end of the reported quarter was $1,697.9 million [6] Outlook - Range Resources expects total production for 2025 to be 2.2 billion cubic feet equivalent per day, with over 30% attributed to liquids production [7] - The estimated capital budget for 2025 is between $650 million and $690 million [7]

Financial Performance - Range's 2024 cash flow from operating activities was $945 million, with a net income of $95 million, translating to $0.39 per diluted share[7][13]. - Total revenues and other income decreased by 33% year-over-year to $626,417,000 for the three months ended December 31, 2024, and by 28% to $2,417,084,000 for the twelve months ended December 31, 2024[50]. - Net income for the three months ended December 31, 2024, was $94,842,000, a decrease of 69% compared to $310,034,000 in the same period of 2023, and for the twelve months, it was $266,340,000, down 69% from $871,142,000[50]. - The company reported a net cash provided from operating activities of $217,890,000 for the three months ended December 31, 2024, and $944,514,000 for the twelve months, reflecting a decrease from $226,095,000 and $977,892,000, respectively[56]. - Total revenues for the twelve months ended December 31, 2024, were $2,213,850,000, a decrease of 5.2% from $2,334,661,000 in 2023[67]. - Adjusted earnings per diluted share for the twelve months ended December 31, 2024, was $2.30, down from $2.40 in 2023[65]. Production and Reserves - Proved reserves at year-end 2024 remained stable at 18.1 Tcfe, with positive performance revisions for the 17th consecutive year[7][22]. - Range's 2025 capital budget is projected to be between $650 million and $690 million, targeting annual production of approximately 2.2 Bcfe per day[6][26]. - The company plans to maintain a production level of 2.6 Bcfe per day by 2027, requiring approximately $570 million in annual drilling and completion capital[11]. - Total production of natural gas, NGLs, and oil for 2024 was 796,234,598 mcfe, a 2% increase from 780,574,707 mcfe in 2023[60]. Pricing and Sales - The average realized price for natural gas in Q4 2024 was $2.90 per mcfe, with a differential of ($0.44) to NYMEX[18]. - The company expects FY 2025 natural gas prices to range from $0.40 to $0.48 below NYMEX, with liquids prices ranging from $0.00 to $1.25 per barrel, and oil/condensate prices expected to be $10.00 to $15.00 below WTI[29]. - Natural gas sales increased to $337,176,000 in Q4 2024 from $320,393,000 in Q4 2023, representing a 5% growth[60]. - NGLs sales rose to $270,356,000 in Q4 2024, up from $238,423,000 in Q4 2023, marking a 13% increase[60]. - Oil sales decreased to $27,590,000 in Q4 2024 from $44,463,000 in Q4 2023, a decline of 38%[60]. Debt and Cash Flow Management - The company reduced net debt by $172 million, ending 2024 with approximately $1.40 billion in net debt[7][20]. - Current assets increased to $636,982,000 as of December 31, 2024, compared to $528,794,000 in 2023, while current liabilities rose significantly to $1,263,247,000 from $580,469,000[53]. - Total debt, net of deferred financing costs, decreased by 4% to $1,697,883,000 as of December 31, 2024, from $1,774,229,000 in 2023[54]. - The company emphasizes the importance of cash flow from operations before changes in working capital as a key financial indicator for funding exploration and development activities[36]. Hedging and Financial Strategy - The company maintains a strong hedging strategy to enhance cash flow predictability and financial flexibility[31]. - As of December 31, 2024, the combined fair value of natural gas basis hedges resulted in a net loss of $29.2 million, indicating the company's strategy to limit price volatility[32]. - The presentation of PV10 value of proved reserves is highlighted as a relevant metric for investors, providing a basis for evaluating estimated net cash flows[41]. Dividends and Shareholder Returns - Range's Board of Directors plans to approve a 12.5% increase in the quarterly cash dividend to $0.09 per share[21]. Other Financial Metrics - Basic net income per common share for the three months ended December 31, 2024, was $0.39, down from $1.29 in 2023, and diluted earnings per share was $0.39 compared to $1.27[50]. - Non-GAAP diluted earnings per share for 2024 was $0.68, up 6% from $0.64 in 2023[63]. - Cash margin for Q4 2024 was $314,556,000, representing a 5.4% increase from $298,445,000 in Q4 2023[68]. - Cash margin per mcfe for Q4 2024 was $1.55, up 5.4% from $1.47 in Q4 2023[67].

In addition, our production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price declines or drilling cost increases. Investors are urged to consider closely the disclosure in our most recent Annual Report on Form 10-K, available from our website at www.rangeresources.com or by written request to 10 ...

Range Resources Corporation. (NYSE:RRC) Q4 2024 Earnings Conference Call February 26, 2025 9:00 AM ET Company Participants Laith Sando - Vice President, Investor Relations Dennis Degner - Chief Executive Officer Mark Scucchi - Chief Financial Officer Alan Engberg - Vice President Liquid Marketing Conference Call Participants Scott Hanold - RBC Jake Roberts - TPH & Company Bertrand Donnes - Truist Kevin McCurdy - Pickering John Annis - Texas Capital Michael Scialla - Stephens Neil Mehta - Goldman Sachs Betty ...