Fly News Breaks for February 10, 2020
Feb 10, 2020 | 20:26 EDT
Piper Sandler analyst Kashy Harrison downgraded Range Resources to Neutral from Overweight with a price target of $4.50, down from $6.50.
News For RRC From the Last 2 Days
Oct 26, 2021 | 16:41 EDT
Reports Q3 revenue $795M, consensus $722.86M. Commenting on the quarter, Jeff Ventura, the Company's CEO said, "Range remains committed to disciplined capital spending and generating sustainable free cash flow. This was demonstrated in the third quarter, as Range generated $276 million in operating cash flow before changes in working capital, as compared to just $96 million of all-in capital spending. We expect to generate significant free cash flow in the coming quarters and rapidly approach balance sheet targets with leverage trending below 1x by the end of next year at current strip pricing. Additionally, we continue to make progress on other key objectives: improving margins, generating free cash flow, and operating safely while maintaining peer-leading capital efficiency. We believe Range is differentiated as a result of our low sustaining capital, competitive cost structure, liquids optionality, marketing strategies, environmental leadership and importantly, our multi-decade core inventory life, which is an increasingly important competitive advantage."
Oct 26, 2021 | 13:34 EDT
Pre-earnings options volume in Range Resources is normal with calls leading puts 4:1. Implied volatility suggests the market is anticipating a move near 5.2%, or $1.37, after results are released. Median move over the past eight quarters is 4.1%.
Oct 26, 2021 | 07:04 EDT
Benchmark analyst Subash Chandra initiated coverage of Range Resources with a Buy rating and $33 price target. Chandra expects there could be "dire shortages" of both natural gas and propane this winter and that prices could remain elevated beyond 2022 given supply discipline, making Range "happy to be an Appalachian gas company." Commitment to their legacy asset is now paying off as commodity prices rise at the same time that well costs plunge, the analyst said.