Range Resources (RRC) Stock

RRC has many years of low-risk drilling options in Appalachia, which enhances its production forecast. Nevertheless, the stock is vulnerable to fluctuations in gas prices.

Range Resources is still a preferred choice because of its large low-cost reserves, strong ability to set prices, and focus on returning value to shareholders. The better conditions for natural gas and the tight balance between supply and demand suggest there is a lot of potential for growth, especially if prices remain high. Even with market fluctuations, RRC could see its stock price rise significantly, possibly hitting $200 in the next 10 to 15 years if conditions are right.

FORT WORTH, Texas, Nov. 29, 2024 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) has announced that its Board of Directors has approved a quarterly cash dividend for the fourth quarter. Shareholders will receive a dividend of $0.08 for each common share, which will be paid on December 27, 2024, to those on record as of the end of business on December 13, 2024.

Range Resources (RRC) shared its earnings report 30 days ago. What can we expect for the stock moving forward?

Increased natural gas prices greatly help companies such as Range Resources Corporation, Antero Resources Corporation, and Comstock Resources Inc. These companies can profit more when gas prices rise.

RRC has many years of safe drilling opportunities in Appalachia, which enhances its production forecast. Nevertheless, the stock is vulnerable to fluctuations in gas prices.

Range Resources' results for the third quarter of 2024 were better than anticipated, leading to a 3.5% rise in their stock price along with high trading activity. The company enjoys advantages from low production costs and its strategic location in the Marcellus Shale, which helps maintain its competitiveness and profitability. Although there are risks related to commodity prices, their smart hedging strategies help reduce any possible negative effects on their finances.

Range raised its production forecast by 1% in its Q3 2024 report. The company has also worked on lowering costs, which are now about $0.06 per Mcfe less than what was originally expected. Additionally, Range's free cash flow for 2024 is supported by its hedging strategies.

Range Resources (RRC) reported quarterly earnings of $0.48 per share, which is higher than the Zacks Consensus Estimate of $0.35 per share. This is an increase compared to earnings of $0.46 per share from the same period last year.