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RRC

Range Resources Corporation

5/24/2013, 4:22 AM ET

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| Earnings
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Monday, May 20, 12:03 PM Range Resources (RRC +1%) and Rex Energy (REXX +3.5%) are both downgraded (I, II) to Hold from Buy at Stifel Nicolaus on valuation and a more cautious outlook on near-term natural gas markets. On RRC, while the firm says the strong set of Marcellus drilling locations, solid execution, and improving financial position warrant its highest premium valuation, it would not be aggressive buyers now. 1 Comment [Energy, Quick Ideas, On the Move]
Thursday, May 16, 9:59 AM T. Boone Pickens added nearly 125K shares in Apache (APA) and more than 500K shares in Goodrich Petroleum (GDP) to his energy fund during Q1. He bought new stakes in MPC, PSX and HK, and sold positions in SWC, RRC and RIG. The fund’s top holding Pioneer Natural Resources (PXD); Pickens added ~43K shares. 1 Comment [Energy]
Thursday, April 25, 5:41 PM More on Range Resources' (RRC) Q1 results: One-time items included a $96M commodity hedge loss. Total production hit a new high of 876M cfe/day, with gains of 52% in oil and condensates, 22% in natural gas liquids and 34% in natural gas. 2013 production growth is targeted at 20%-25% Y/Y, with Q2 production expected at 880M-890M cfe/day. Comment! [Energy, Earnings]
Thursday, April 25, 5:16 PM Range Resources (RRC): Q1 EPS of $0.33 beats by $0.05. Revenue of $319M (+27% Y/Y). (PR) Comment! [Earnings, Commodities, Breaking News]
Thursday, April 25, 12:10 AM Notable earnings after Thursday’s close: AEM, ALTR, AMCC, AMKR, AMZN, BIDU, BJRI, BLDR, BMRN, CALX, CAMP, CB, CBG, CENX, CERN, CINF, CLWR, CRUS, CSTR, CTCT, DECK, DLB, ELY, EMN, EXPE, FII, FR, FSL, GERN, IGT, IM, INAP, INFA, KBR, KEG, KLAC, LEG, MCRS, MXIM, N, NR, NTGR, OLN, PFG, PKI, PMCS, QLIK, RMD, RRC, RSG, SBUX, SIMO, SPN, SWKS, SYNA, TCO, THRX, TLAB, UHS, VPRT, VRSN, WRE, WYNN Comment! [Earnings]
Wednesday, April 24, 5:35 PM Notable earnings after Thursday’s close: AEM, ALTR, AMCC, AMKR, AMZN, BIDU, BJRI, BLDR, BMRN, CALX, CAMP, CB, CBG, CENX, CERN, CINF, CLWR, CRUS, CSTR, CTCT, DECK, DLB, ELY, EMN, EXPE, FII, FR, FSL, GERN, IGT, IM, INAP, INFA, KBR, KEG, KLAC, LEG, MCRS, MXIM, N, NR, NTGR, OLN, PFG, PKI, PMCS, QLIK, RMD, RRC, RSG, SBUX, SIMO, SPN, SWKS, SYNA, TCO, THRX, TLAB, UHS, VPRT, VRSN, WRE, WYNN Comment! [Earnings]
Thursday, April 11, 12:09 PM Range Resources (RRC +0.6%) says it hit record production volumes in Q1 of 876 Mmcfe/day, a 34% Y/Y increase and exceeding guidance, driven by continue drilling success at the Marcellus shale. Production was 79% natural gas (up 34%), 14% natural gas liquids (up 22%) and 7% crude oil and condensate (up 52%). Comment! [Energy]
Thursday, April 4, 5:32 PM Credit Suisse places Rex Energy (REXX), Range Resources (RRC) and Rosetta Resources (ROSE) at the top of its list of small-to-midsized energy explorers most efficiently running their operations. The firm focuses on three-year recycle ratios of cash flow per unit divided by unit organic finding and development costs. Penn Virginia (PVA) and Forest Oil (FST) screen as less efficient. Comment! [Energy, Quick Ideas]
Tuesday, April 2, 9:51 AM As big energy firms buy out smaller rivals in the Marcellus Shale, one side effect is an improving environmental record, according to a WSJ analysis. XOM, CVX and RDS.A average 38 violations for every 100 Marcellus wells drilled; the smallest companies average 132 violations per 100. Experts say this is partly due to the energy giants' financial resources and more rigorous safety protocols. (also) 1 Comment [Energy]
Monday, March 25, 3:59 PM EOG Resources (EOG) is the unnamed company teaming with ZaZa Energy (ZAZA) to develop assets in Texas' Eaglebine trend, an SEC filing says. For acreage 100% owned by ZaZa, EOG will be the operator and earn a 75% working interest, while ZaZa will retain 25%; for acreage currently owned 75% by ZaZa and 25% by Range Resources (RRC), EOG will earn 50% while ZaZa and RRC each will retain 25%. 1 Comment [Energy]
Friday, March 22, 8:22 AM Newly released court documents show Range Resources (RRC) paid $750K to settle claims that shale gas drilling ruined a Pennsylvania family’s property. The payout wasn’t an admission of any detrimental health effects, but release could set an uncomfortable precedent for companies that have always kept quiet the details of settlements with people affected by shale drilling. 2 Comments [Energy]
Thursday, March 21, 2:39 PM With natural gas prices up 12% in March, some NGL plays have been left behind, Cowen's Nicholas Pope writes. He favors SM Energy (SM +0.3%), which trades at only 3.9x his 2014 estimate for EBITDA and has rallied a mere 2% this month. Range Resources (RRC +0.8%) is another NGL name but it also has significant dry gas exposure; dry-gas exposed names have rallied 17% this month. Comment! [Energy, Quick Ideas]
Friday, March 1, 6:09 AM Range Resources Corp. (RRC) declares $0.04/share quarterly dividend, in line with previous. Forward yield 0.21%. For shareholders of record Mar. 15. Payable Mar. 29. Ex-div date Mar. 13. (PR) 1 Comment [Dividends]
Thursday, February 28, 9:17 AM Range Resource (RRC) is reiterated a Buy at Baird following Q4 results, with price target lifted to $86 from $82. The analysts cite management's goal of accelerating the NAV of the firm's underlying assets and the growth potential of its Mississippi Lime play. Comment! [Energy]
Tuesday, February 26, 6:44 PM More on Range Resources' (RRC) Q4 results: GAAP revenues rose 51.1% Y/Y to $458M, may not compare to consensus $402.5M; non-GAAP revenues were $418M. 2012 production was a record 753M cfe/day, up 36% Y/Y; total proved reserves rose 29% Y/Y to 6.5T cfe, with oil and NGL reserves up 64%. Production growth for 2013 targeted at 20%-25% Y/Y. Shares +1.2% AH. Comment! [Energy, Earnings]
Tuesday, February 26, 5:59 PM Range Resources (RRC): Q4 EPS of $0.46 beats by $0.18. Total Revenue and Other income of $458.0M. (PR) Comment! [Earnings, Breaking News, Energy]