Range Resources (RRC)


Market Price (10/28/2026): $57.0 | Market Cap: $13.3 BilSector: Energy | Industry: Oil & Gas Exploration & Production

Range Resources (RRC)


Market Price (10/28/2026): $57.0
Market Cap: $13.3 Bil
Sector: Energy
Industry: Oil & Gas Exploration & Production

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.5%, FCF Yield is 5.5%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 17%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%

Low stock price volatility
Vol 12M is 36%

Megatrend and thematic drivers
Megatrends include US Energy Independence. Themes include US LNG.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Weak multi-year price returns
3Y Excs Rtn is -19%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.06, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.8%

Key risks
RRC key risks include [1] its heavy revenue dependence of approximately 70% on volatile natural gas prices, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.5%, FCF Yield is 5.5%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 17%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%
3 Low stock price volatility
Vol 12M is 36%
4 Megatrend and thematic drivers
Megatrends include US Energy Independence. Themes include US LNG.
5 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
6 Weak multi-year price returns
3Y Excs Rtn is -19%
7 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.06, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
8 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.8%
9 Key risks
RRC key risks include [1] its heavy revenue dependence of approximately 70% on volatile natural gas prices, Show more.

RRC in ETFs

Weight = RRC's share of each fund

VTI0.01%
ITOT0.02%
IWB0.02%
IJH0.31%
VYM0.04%
VB0.11%
FXN4.3%
XOP2.8%
+21 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/27/2026

Range Resources (RRC) stock has gained about 50% since 6/30/2026 because of the following key factors:

1. EQT Corporation's all-stock acquisition proposal provided a significant catalyst for Range Resources' stock surge.

On October 26, 2026, EQT Corporation announced a definitive agreement to acquire Range Resources in an all-stock transaction valued at approximately $12.83 billion, or an implied $54.91 per share, representing a 20.6% premium over Range's closing price on the prior trading day. This announcement led to Range Resources' shares jumping nearly 18% on the day. The merger, expected to close in fiscal Q1 2027, aims to create the largest vertically integrated natural gas producer in the United States, with anticipated annual synergies of $325 million within two years.

2. Range Resources demonstrated strong operational and financial performance, particularly with its fiscal Q3 2026 results and a beat in fiscal Q2 2026.

The company reported robust fiscal Q3 2026 financial results on October 27, 2026, with GAAP revenues and other income totaling $843 million and adjusted net income of $0.81 per diluted share, aligning with analysts' estimates. A key highlight was achieving a record liquids production of over 130,000 barrels per day during fiscal Q3 2026, driven by strong well performance and expanded infrastructure. This followed a fiscal Q2 2026 earnings beat, where Range reported an EPS of $0.79, surpassing the consensus estimate of $0.66.

Show more
Updated on 10/27/2026

Range Resources (RRC) stock has gained about 50% since 6/30/2026 because of the following key factors:

1. EQT Corporation's all-stock acquisition proposal provided a significant catalyst for Range Resources' stock surge.

On October 26, 2026, EQT Corporation announced a definitive agreement to acquire Range Resources in an all-stock transaction valued at approximately $12.83 billion, or an implied $54.91 per share, representing a 20.6% premium over Range's closing price on the prior trading day. This announcement led to Range Resources' shares jumping nearly 18% on the day. The merger, expected to close in fiscal Q1 2027, aims to create the largest vertically integrated natural gas producer in the United States, with anticipated annual synergies of $325 million within two years.

2. Range Resources demonstrated strong operational and financial performance, particularly with its fiscal Q3 2026 results and a beat in fiscal Q2 2026.

The company reported robust fiscal Q3 2026 financial results on October 27, 2026, with GAAP revenues and other income totaling $843 million and adjusted net income of $0.81 per diluted share, aligning with analysts' estimates. A key highlight was achieving a record liquids production of over 130,000 barrels per day during fiscal Q3 2026, driven by strong well performance and expanded infrastructure. This followed a fiscal Q2 2026 earnings beat, where Range reported an EPS of $0.79, surpassing the consensus estimate of $0.66.

3. Favorable natural gas liquids (NGL) prices contributed positively to Range Resources' cash margins.

While natural gas prices experienced some volatility, Range Resources benefited from strong NGL price realizations, which helped to offset weaker natural gas revenues and support free cash flow generation. In fiscal Q3 2026, Range's pre-hedge NGL price averaged $27.54 per barrel, approximately $1.54 above the Mont Belvieu weighted equivalent. Additionally, the U.S. Natural Gas Price Index saw a significant 50.24% quarter-over-quarter increase in fiscal Q2 2026, primarily due to stronger export demand and hot weather conditions, setting a positive tone for the period.

4. Positive analyst sentiment and elevated price targets supported the stock's upward trajectory.

Several research firms provided favorable outlooks for Range Resources, which likely contributed to investor confidence. For example, Zacks Research increased its fiscal Q3 2026 EPS estimate to $0.57 from $0.55. Mizuho notably raised its price target for Range Resources from $52.00 to $67.00 and maintained an "outperform" rating, while Raymond James also increased its price target to $48.00 from $45.00, reiterating an "Outperform" rating.

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Stock Movement Drivers

Fundamental Drivers

The 52.0% change in RRC stock from 6/30/2026 to 10/27/2026 was primarily driven by a 52.9% change in the company's P/E Multiple.
(LTM values as of)630202610272026Change
Stock Price ($)37.1056.3852.0%
Change Contribution By: 
Total Revenues ($ Mil)3,2093,3985.9%
Net Income Margin (%)28.1%26.2%-6.7%
P/E Multiple9.714.852.9%
Shares Outstanding (Mil)2352330.7%
Cumulative Contribution52.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/27/2026
ReturnCorrelation
RRC52.0% 
Market (SPY)3.1%-6.0%
Sector (XLE)28.4%42.5%

Fundamental Drivers

The 25.4% change in RRC stock from 3/31/2026 to 10/27/2026 was primarily driven by a 19.1% change in the company's Net Income Margin (%).
(LTM values as of)331202610272026Change
Stock Price ($)44.9556.3825.4%
Change Contribution By: 
Total Revenues ($ Mil)2,9883,39813.7%
Net Income Margin (%)22.0%26.2%19.1%
P/E Multiple16.114.8-8.5%
Shares Outstanding (Mil)2362331.2%
Cumulative Contribution25.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/27/2026
ReturnCorrelation
RRC25.4% 
Market (SPY)18.7%-15.6%
Sector (XLE)12.1%53.6%

Fundamental Drivers

The 51.3% change in RRC stock from 9/30/2025 to 10/27/2026 was primarily driven by a 52.3% change in the company's Net Income Margin (%).
(LTM values as of)930202510272026Change
Stock Price ($)37.2756.3851.3%
Change Contribution By: 
Total Revenues ($ Mil)2,7873,39821.9%
Net Income Margin (%)17.2%26.2%52.3%
P/E Multiple18.514.8-20.1%
Shares Outstanding (Mil)2382332.0%
Cumulative Contribution51.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/27/2026
ReturnCorrelation
RRC51.3% 
Market (SPY)16.5%-2.5%
Sector (XLE)56.1%52.8%

Fundamental Drivers

The 79.2% change in RRC stock from 9/30/2023 to 10/27/2026 was primarily driven by a 233.6% change in the company's P/E Multiple.
(LTM values as of)930202310272026Change
Stock Price ($)31.4756.3879.2%
Change Contribution By: 
Total Revenues ($ Mil)4,0783,398-16.7%
Net Income Margin (%)41.7%26.2%-37.0%
P/E Multiple4.414.8233.6%
Shares Outstanding (Mil)2392332.3%
Cumulative Contribution79.2%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/27/2026
ReturnCorrelation
RRC79.2% 
Market (SPY)86.2%27.3%
Sector (XLE)64.9%58.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
RRC Return166%41%23%19%-1%53%735%
Peers Return10478%46%11%61%11%-6%28666%
S&P 500 Return27%-19%24%23%16%11%103%

Monthly Win Rates [3]
RRC Win Rate58%58%58%58%58%60% 
Peers Win Rate53%63%48%62%52%58% 
S&P 500 Win Rate75%42%67%75%67%40% 

Max Drawdowns [4]
RRC Max Drawdown-32%-36%-22%-28%-24%-25% 
Peers Max Drawdown-29%-40%-27%-25%-30%-32% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: EQT, AR, CNX, GPOR, CRK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/27/2026 (YTD)

How Low Can It Go

EventRRCS&P 500
2025 US Tariff Shock
  % Loss-19.4%-18.8%
  % Gain to Breakeven24.0%23.1%
  Time to Breakeven35 days79 days
2024 Yen Carry Trade Unwind
  % Loss-15.4%-7.8%
  % Gain to Breakeven18.2%8.5%
  Time to Breakeven98 days18 days
2023 SVB Regional Banking Crisis
  % Loss-10.7%-6.7%
  % Gain to Breakeven12.0%7.1%
  Time to Breakeven14 days31 days
2020 COVID-19 Crash
  % Loss-39.8%-33.7%
  % Gain to Breakeven66.0%50.9%
  Time to Breakeven28 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-46.1%-19.2%
  % Gain to Breakeven85.4%23.8%
  Time to Breakeven984 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-44.9%-3.7%
  % Gain to Breakeven81.6%3.9%
  Time to Breakeven2325 days6 days

Compare to EQT, AR, CNX, GPOR, CRK

In The Past

Range Resources's stock fell -19.4% during the 2025 US Tariff Shock. Such a loss loss requires a 24.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventRRCS&P 500
2020 COVID-19 Crash
  % Loss-39.8%-33.7%
  % Gain to Breakeven66.0%50.9%
  Time to Breakeven28 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-46.1%-19.2%
  % Gain to Breakeven85.4%23.8%
  Time to Breakeven984 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-44.9%-3.7%
  % Gain to Breakeven81.6%3.9%
  Time to Breakeven2325 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-43.9%-12.2%
  % Gain to Breakeven78.2%13.9%
  Time to Breakeven84 days62 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-27.4%-15.4%
  % Gain to Breakeven37.7%18.2%
  Time to Breakeven208 days125 days
2008-2009 Global Financial Crisis
  % Loss-47.7%-53.4%
  % Gain to Breakeven91.3%114.4%
  Time to Breakeven315 days1085 days

Compare to EQT, AR, CNX, GPOR, CRK

In The Past

Range Resources's stock fell -19.4% during the 2025 US Tariff Shock. Such a loss loss requires a 24.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Range Resources (RRC)

Range Resources Corporation (RRC) is an independent energy company focused on the exploration, development, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties within the United States. The company's operations are primarily concentrated in the Appalachian region of the northeastern U.S., where it manages a substantial portfolio of producing wells and leased acreage.

The core business of Range Resources involves extracting and marketing three main types of energy resources: natural gas, natural gas liquids (NGLs), and crude oil or condensate. These products are derived from the company's owned and operated properties.

Range Resources serves a diverse customer base across various energy markets. Its natural gas is sold to utilities, marketing and midstream companies, and industrial users. NGLs are supplied to petrochemical end users, marketers/traders, and natural gas processors. Additionally, the company sells its oil and condensate products to crude oil processors, transporters, and refining and marketing companies.

AI Analysis | Feedback

Here are 1-2 brief analogies for Range Resources (RRC):

  • Think of RRC as an ExxonMobil for natural gas in the Appalachian region.

  • Imagine RRC as a mining company, but for natural gas and oil instead of metals.

AI Analysis | Feedback

  • Natural Gas: Range Resources extracts, produces, markets, and sells natural gas from its properties in the Appalachian region.
  • Natural Gas Liquids (NGLs): The company produces, markets, and sells various natural gas liquids, which are separated components of natural gas.
  • Oil & Condensate: Range Resources extracts, produces, markets, and sells crude oil and condensate, a light type of crude oil.

AI Analysis | Feedback

Range Resources (RRC) sells primarily to other companies. Based on the provided description, its major customers fall into the following categories:

  • Utilities, Marketing, and Midstream Companies: These entities purchase natural gas and natural gas liquids (NGLs) for distribution, further marketing, or transportation.
  • Industrial Users, Petrochemical End Users, and Natural Gas Processors: These companies utilize natural gas and NGLs as feedstocks or fuel for their various industrial and chemical operations.
  • Crude Oil Processors, Transporters, Refining, and Marketing Companies: These customers purchase oil and condensate for processing, transportation, refining, and subsequent sale.

The provided background information does not list specific names of customer companies.

AI Analysis | Feedback

  • MPLX LP (MPLX)
  • Energy Transfer LP (ET)
  • TC Energy Corporation (TRP)

AI Analysis | Feedback

Dennis L. Degner, Chief Executive Officer and President

Dennis L. Degner joined Range Resources in 2010 and was appointed Chief Executive Officer effective May 10, 2023, having previously served as the Company's Chief Operating Officer. He possesses over 20 years of experience in the oil and gas industry, working in various technical and managerial capacities across the United States. Before his tenure at Range, Mr. Degner held positions with EnCana, Sierra Engineering, and Halliburton. He is a member of the Society of Petroleum Engineers and holds a Bachelor of Science Degree in Agricultural Engineering from Texas A&M University.

Mark S. Scucchi, Executive Vice President – Chief Financial Officer

Mark S. Scucchi joined Range Resources in 2008 and was appointed Executive Vice President – Chief Financial Officer. Prior to this role, he served as Vice President – Finance & Treasurer. Before joining Range, Mr. Scucchi worked with JPMorgan Securities, where he provided commercial and investment banking services to small and mid-cap technology companies. He also spent several years in the audit practice at Ernst & Young LLP. Mr. Scucchi earned a Bachelor of Science in Business Administration from Georgetown University and a Master of Science in Accountancy from the University of Notre Dame. He is a CFA Charterholder and a CPA licensed in the state of Texas.

Erin W. McDowell, Senior Vice President – General Counsel & Corporate Secretary

Erin W. McDowell joined Range Resources in January 2015 as Division Counsel for the Appalachia Division. She was promoted to Vice President Deputy General Counsel & Assistant Corporate Secretary before being appointed to Senior Vice President – General Counsel and Corporate Secretary in March 2023. Ms. McDowell brings nearly 20 years of legal experience to her role.

Laith K. Sando, Senior Vice President – Corporate Strategy & Investor Relations

Laith K. Sando has been with Range Resources since 2002. Throughout his career at Range, he has held numerous accounting and finance positions before being promoted to Vice President – Investor Relations in 2016. As a member of the senior leadership team for several years, Mr. Sando has overseen Range's hedge committee since 2016 and assumed responsibility for corporate communications in 2023. He graduated magna cum laude from Texas Wesleyan University with a Bachelor of Business Administration and holds a Master of Business Administration in Finance from The University of Texas at Arlington. Mr. Sando is a Certified Public Accountant.

Alan W. Farquharson, Senior Vice President – Reservoir Engineering & Economics

Alan W. Farquharson joined Range Resources in 1998. He progressed through roles as manager and vice president of reservoir engineering before being promoted to Senior Vice President – Reservoir Engineering in February 2007, and then to his current position in January 2012, which included additional responsibilities for strategic capital allocation. Prior to Range, Mr. Farquharson held positions with Union Pacific Resources, including engineering manager business development – international, and also held various technical and managerial positions at Amoco and Hunt Oil. He holds a Bachelor of Science degree in Electrical Engineering from the Pennsylvania State University.

AI Analysis | Feedback

The key risks to Range Resources (RRC) are primarily tied to commodity price volatility, regulatory and environmental factors, and broader market dynamics including competition from alternative energy sources.

  1. Commodity Price Volatility: Range Resources' financial performance is heavily dependent on the volatile prices of natural gas, natural gas liquids (NGLs), and oil. Approximately 70% of the company's revenues are tied to natural gas prices, which are subject to significant fluctuations due to market dynamics, weather patterns, regulatory shifts, and global energy transitions. A sustained period of low commodity prices, particularly natural gas prices below the company's estimated free cash flow breakeven, could materially impact its ability to generate free cash flow, reinvest in growth, or maintain shareholder returns.
  2. Regulatory and Environmental Risks: As an independent natural gas, NGLs, and oil company, Range Resources operates within a highly regulated industry. Changes in environmental protection laws, climate change policies, and emissions regulations can lead to increased compliance costs and operational restrictions. Specifically in the Appalachian region, regulatory pressure on infrastructure and potential regional bottlenecks pose additional challenges, which can compress margins due to infrastructure constraints or unplanned regulatory actions.
  3. Market Volatility and Competition from Alternative Energy Sources: Market volatility can impact Range Resources' ability to execute planned capital expenditures and affect investor sentiment, potentially leading to challenges in accessing capital markets. Furthermore, the growing global emphasis on renewable and alternative energy sources presents a long-term threat to the company's market position, as it operates as a pure-play fossil fuel producer. The ongoing global energy transition introduces fundamental constraints that could limit long-term growth prospects.

AI Analysis | Feedback

  • Accelerated transition to renewable energy sources and electrification, which directly reduces long-term demand for natural gas, natural gas liquids, and oil across power generation, industrial use, and transportation due to declining costs and increasing adoption of alternatives like solar, wind, battery storage, and electric vehicles.
  • Emergence and scaling of the hydrogen economy, particularly green hydrogen produced from renewable energy, which poses a long-term threat to natural gas demand in industrial processes, heating, and heavy-duty transportation as investments and pilot projects in this sector gain momentum.

AI Analysis | Feedback

Range Resources Corporation's main products are natural gas, natural gas liquids (NGLs), and oil. The addressable markets for these products in the United States are substantial.

Natural Gas

The U.S. natural gas market is projected to be valued at approximately US$473.4 billion in 2025, with an anticipated growth to US$601.8 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.5% during this period. In 2025, the U.S. achieved a record natural gas production of 118.5 billion cubic feet per day (Bcf/d). The Appalachian Basin, a primary operating region for Range Resources, was a dominant contributor, producing 36.6 Bcf/d in 2025, which accounted for 31% of the total national output, solidifying its position as the largest natural gas source in America.

Natural Gas Liquids (NGLs)

The addressable market for natural gas liquids in the U.S. was estimated at US$5.9 billion in 2024. This market is projected to expand from US$6.22 billion in 2025 to US$10.6 billion by 2035, growing at a CAGR of 5.4% during the forecast period. North America, with the United States as the leading contributor (92.8% market share in 2024), is expected to see its NGL market grow at a CAGR of 5.57% from 2024 to 2033. In 2023, North America's NGL production exceeded 10 million barrels per day (bpd), representing over 80% of global NGL production, with the U.S. leading in both production and consumption. U.S. NGL production is forecasted to increase from 6.85 million bpd in 2024 to 6.92 million bpd in 2025.

Oil

The broader U.S. oil and gas market, which includes oil, was valued at US$1.61 trillion in 2025 and is projected to reach approximately US$2.24 trillion by 2034, with a CAGR of 3.75% between 2025 and 2034. Another estimate places the U.S. oil and gas market size at US$474.5 billion in 2025, with a projection to reach US$717.39 billion by 2034, exhibiting a CAGR of 4.7% from 2026 to 2034. The United States achieved a historic milestone in 2023, becoming the largest crude oil producer globally. U.S. crude oil production reached a record 12.5 million barrels per day in May 2019, with expectations to reach 13.4 million barrels per day by the end of 2019. Within Range Resources' operational area, Appalachian oil production increased from about 10 thousand barrels per day (MBbl/d) in 2010 to 60 MBbl/d by 2023, with a forecast to reach around 90 MBbl/d between 2029 and 2030.

AI Analysis | Feedback

Range Resources (RRC) is expected to drive future revenue growth over the next two to three years through several key strategies:

  1. Increased Production Volumes: Range Resources has a strategic growth plan to increase its overall production. The company targets a daily production level of 2.6 Bcfe (billion cubic feet equivalent) by 2027, representing an increase of approximately 20% compared to 2024 levels. This growth is supported by its extensive Marcellus inventory, which includes over 28 million lateral feet of undrilled inventory. For 2026, the company forecasts production of 2.35 to 2.4 Bcfe per day.
  2. Strategic Market Diversification and Enhanced Export Capabilities: The company is focused on optimizing pricing for its natural gas and NGL production through diversified market access. This includes established transportation routes to multiple end markets such as the Midwest, Northeast, and Gulf Coast, as well as increasing U.S. export capacity for LNG, LPG, and other products. Range has also secured a long-term sales agreement to supply gas to a new power plant in the Midwest, set to commence in late 2027.
  3. Favorable Commodity Price Outlooks: While natural gas prices have experienced volatility, a rebound in U.S. natural gas prices is anticipated to drive a recovery in revenues. The company's profitability is significantly influenced by natural gas and NGL prices.
  4. Capital Efficiency and Cost Control: Range Resources is prioritizing operational efficiency and disciplined capital allocation. The company plans to maintain its drilling and completion pace while utilizing its low-cost, high-quality Marcellus assets, aiming for a reinvestment rate below 50% at certain natural gas price points. This focus on efficiency helps maximize margins and cash flow.

AI Analysis | Feedback

Share Repurchases

  • Range Resources repurchased $231 million in shares in 2025.
  • In 2024, the company invested $65 million in share repurchases.
  • The Board of Directors increased the share repurchase authorization to $1.5 billion in February 2026.

Share Issuance

  • No significant share issuances by Range Resources have been reported over the last 3-5 years; shares outstanding generally declined during this period, indicating net repurchases.

Inbound Investments

  • No information is available for large inbound investments made in Range Resources by third-parties over the last 3-5 years.

Outbound Investments

  • No information is available for instances where Range Resources made a strategic investment in another company over the last 3-5 years.

Capital Expenditures

  • Capital expenditures totaled $674 million in 2025.
  • The capital budget for 2026 is projected to be between $650 million and $700 million.
  • The primary focus of capital expenditures includes drilling and completion, maintenance capital, investments in acreage and gathering facilities, and strategic initiatives for future growth and environmental upgrades such as pneumatic devices.

Better Bets vs. Range Resources (RRC)

Peer Outperformance in Oil & Gas Exploration & Production

RRC has outperformed 76% of its 50 Oil & Gas Exploration & Production peers over 5Y. Among the peers that beat it is CNQ. Oil & Gas Exploration & Production ranks 6th of 7 industries in Energy by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Oil & Gas Exploration & Production constituents that RRC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
57%
of 60 industry peers · 52.4% return
3Y
86%
of 56 industry peers · 67.3% return
5Y
76%
of 50 industry peers · 140.4% return
Oil & Gas Exploration & Production peers with revenue growth within 4pp of RRC's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
RRC Range Resources 5.9% 14.8x 52.4%67.3%140.4% —
CNQ Canadian Natural Resources 7.2% 9.6x 78.9%95.9%232.5% +92pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Energy sector, ranked by 5Y. Oil & Gas Exploration & Production is RRC's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Oil & Gas Refining & Marketing 11 89.9%132.5%316.3% MPC 637% · VLO 475% · PBF 463%
Integrated Oil & Gas 7 48.3%79.7%213.2% SU 313% · IMO 312% · XOM 234%
Oil & Gas Storage & Transportation 18 43.3%126.7%181.7% INSW 985% · LPG 912% · TRGP 513%
Oil & Gas Equipment & Services 33 28.6%24.7%76.7% SEI 877% · FTI 872% · TDW 569%
Oil & Gas Drilling 7 65.8%14.0%75.5% VAL 169% · NE 101% · RIG 76%
Oil & Gas Exploration & Production ← 51 38.0%16.8%63.8% BTE 1014% · PR 303% · CNQ 233%
Coal & Consumable Fuels 14 -16.8%9.9%45.7% CNR 253% · CCJ 228% · UEC 114%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

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Peer Comparisons

Peers to compare with:

Financials

RRCEQTARCNXGPORCRKMedian
NameRange Re.EQT Antero R.CNX Reso.Gulfport.Comstock. 
Mkt Price57.0056.0142.0038.58169.0014.7149.00
Mkt Cap13.335.113.05.73.04.39.4
Rev LTM3,3989,4795,6172,2151,3831,8822,807
Op Inc LTM1,1464,0531,1798815373611,013
FCF LTM7383,7581,595526250-735632
FCF 3Y Avg5182,1021,227369220-572444
CFO LTM1,4196,2461,9791,0888378191,254
CFO 3Y Avg1,1684,3781,4259237367541,045

Growth & Margins

RRCEQTARCNXGPORCRKMedian
NameRange Re.EQT Antero R.CNX Reso.Gulfport.Comstock. 
Rev Chg LTM18.1%30.2%18.8%16.2%19.7%13.8%18.4%
Rev Chg 3Y Avg5.9%13.5%-0.6%0.9%-0.9%-6.0%0.2%
Rev Chg Q19.7%-3.9%11.1%-18.3%-16.0%-25.2%-10.0%
QoQ Delta Rev Chg LTM4.0%-0.8%2.4%-4.3%-3.5%-5.9%-2.1%
Op Inc Chg LTM46.6%90.2%97.5%50.6%52.1%138.6%71.2%
Op Inc Chg 3Y Avg36.6%358.1%115.3%76.4%60.3%738.0%95.8%
Op Mgn LTM33.7%42.8%21.0%39.8%38.8%19.2%36.3%
Op Mgn 3Y Avg25.2%22.4%12.3%27.3%27.2%9.3%23.8%
QoQ Delta Op Mgn LTM0.7%-0.3%0.1%-1.9%-2.1%-2.3%-1.1%
CFO/Rev LTM41.8%65.9%35.2%49.1%60.5%43.5%46.3%
CFO/Rev 3Y Avg40.8%60.4%28.8%50.7%64.4%45.9%48.3%
FCF/Rev LTM21.7%39.6%28.4%23.7%18.1%-39.1%22.7%
FCF/Rev 3Y Avg17.6%26.0%25.0%18.8%18.8%-35.7%18.8%

Valuation

RRCEQTARCNXGPORCRKMedian
NameRange Re.EQT Antero R.CNX Reso.Gulfport.Comstock. 
Mkt Cap13.335.113.05.73.04.39.4
P/S3.93.72.32.62.22.32.4
P/Op Inc11.68.611.06.55.611.99.8
P/EBIT10.98.38.34.34.45.06.6
P/E14.912.912.06.06.18.110.0
P/CFO9.45.66.65.33.65.25.4
Total Yield7.5%8.9%8.3%16.6%16.4%12.3%10.6%
Dividend Yield0.7%1.2%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg6.1%7.2%12.3%8.0%6.9%-15.7%7.0%
D/E0.10.20.40.40.30.70.3
Net D/E0.10.20.40.40.30.70.3

Returns

RRCEQTARCNXGPORCRKMedian
NameRange Re.EQT Antero R.CNX Reso.Gulfport.Comstock. 
1M Rtn47.6%10.2%20.0%17.7%9.3%12.1%14.9%
3M Rtn49.3%8.8%24.0%12.8%10.2%18.8%15.8%
6M Rtn33.4%-5.2%8.9%-1.5%-11.8%-14.9%-3.3%
12M Rtn54.1%5.4%28.6%18.4%-9.6%-16.8%11.9%
3Y Rtn69.1%39.3%45.4%82.0%36.4%21.6%42.3%
1M Excs Rtn51.3%13.1%23.1%22.5%11.9%16.7%19.6%
3M Excs Rtn38.9%2.7%15.3%7.0%3.6%12.5%9.7%
6M Excs Rtn26.5%-11.9%2.2%-8.3%-18.5%-21.6%-10.1%
12M Excs Rtn40.6%-6.7%16.3%5.8%-21.7%-29.8%-0.4%
3Y Excs Rtn-10.7%-42.2%-30.1%-11.1%-46.1%-58.3%-36.1%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Gathering, processing and marketing functions as integral to our natural gas, NGLs and oil2,9882,3472,541 3,580
Exploration, development and acquisition of natural gas and liquids ((NGLs) and oil properties   5,331 
Total2,9882,3472,5415,3313,580


Price Behavior

Price Behavior
Market Price$56.38 
Market Cap ($ Bil)13.2 
First Trading Date12/28/1992 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$41.27$39.94
DMA Trendupup
Distance from DMA36.6%41.2%
 3M1YR
Volatility47.5%36.7%
Downside Capture-96.54-53.89
Upside Capture-3.84-21.93
Correlation (S&P 500)-11.0%-11.8%
RRC Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta-0.23-0.26-0.60-0.61-0.120.63
Up Beta-0.43-0.84-0.36-1.21-0.690.52
Down Beta-0.580.52-1.20-0.170.361.10
Up Capture-68%-36%-45%-42%-6%15%
Bmk +ve Days6162766132424
Stock +ve Days9213461133395
Down Capture110%33%-65%-39%-16%72%
Bmk -ve Days16263760120328
Stock -ve Days13213065119353

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RRC
RRC51.6%36.7%1.19-
Sector ETF (XLE)58.7%22.2%1.9852.2%
Equity (SPY)14.6%12.7%0.79-9.5%
Gold (GLD)-1.4%28.5%-0.061.8%
Commodities (DBC)47.3%20.6%1.7634.2%
Real Estate (VNQ)3.8%13.9%0.026.6%
Bitcoin (BTCUSD)-27.9%43.4%-0.63-0.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RRC
RRC19.6%44.0%0.54-
Sector ETF (XLE)22.8%25.5%0.7860.7%
Equity (SPY)12.8%17.1%0.5633.8%
Gold (GLD)17.6%18.9%0.757.5%
Commodities (DBC)9.2%19.5%0.3543.1%
Real Estate (VNQ)1.0%18.9%-0.0630.4%
Bitcoin (BTCUSD)4.5%51.6%0.2714.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RRC
RRC4.8%56.5%0.31-
Sector ETF (XLE)11.4%29.6%0.4154.0%
Equity (SPY)15.5%17.9%0.7332.8%
Gold (GLD)12.0%16.4%0.602.2%
Commodities (DBC)8.2%18.1%0.3738.0%
Real Estate (VNQ)5.2%20.7%0.2125.9%
Bitcoin (BTCUSD)62.2%66.2%1.025.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity26.3 Mil
Short Interest: % Change Since 93020260.3%
Average Daily Volume2.6 Mil
Days-to-Cover Short Interest10.1 days
Basic Shares Quantity233.5 Mil
Short % of Basic Shares11.2%

Earnings Returns History

Updated 10/14/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/22/20262.6%1.4%6.8%
4/22/20263.8%3.0%1.0%
2/25/2026-0.1%6.2%20.0%
10/29/2025-1.1%5.9%12.2%
7/23/20250.2%2.4%-7.2%
4/23/20252.3%5.4%18.1%
2/26/2025-5.6%-2.6%0.9%
10/23/20241.6%1.7%14.9%
...
SUMMARY STATS   
# Positive131616
# Negative1188
Median Positive2.7%3.9%11.6%
Median Negative-2.0%-3.5%-5.9%
Max Positive7.8%14.4%40.8%
Max Negative-15.2%-22.2%-13.8%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/22/20262.6%1.4%6.8%
4/22/20263.8%3.0%1.0%
2/25/2026-0.1%6.2%20.0%
10/29/2025-1.1%5.9%12.2%
7/23/20250.2%2.4%-7.2%
4/23/20252.3%5.4%18.1%
2/26/2025-5.6%-2.6%0.9%
10/23/20241.6%1.7%14.9%
7/24/2024-0.7%-1.8%-5.1%
4/24/20243.3%-1.8%1.7%
2/22/2024-2.0%-0.5%4.8%
10/25/2023-0.7%3.9%-3.0%
7/25/20232.7%3.9%2.0%
4/25/2023-2.3%1.6%13.8%
2/28/2023-0.1%1.3%-5.9%
10/25/20227.8%7.4%14.0%
7/26/20221.8%-4.3%5.0%
4/27/20224.5%5.2%10.9%
2/23/20225.4%11.2%28.5%
10/27/2021-2.2%-4.3%-13.8%
7/27/20211.9%0.3%-6.4%
4/27/20216.2%14.4%40.8%
2/24/2021-4.1%-7.9%-4.8%
10/30/2020-15.2%-22.2%-5.9%
SUMMARY STATS   
# Positive131616
# Negative1188
Median Positive2.7%3.9%11.6%
Median Negative-2.0%-3.5%-5.9%
Max Positive7.8%14.4%40.8%
Max Negative-15.2%-22.2%-13.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202610/27/202610-Q
06/30/202607/21/202610-Q
03/31/202604/21/202610-Q
12/31/202502/24/202610-K
09/30/202510/28/202510-Q
06/30/202507/22/202510-Q
03/31/202504/22/202510-Q
12/31/202402/25/202510-K
09/30/202410/22/202410-Q
06/30/202407/23/202410-Q
03/31/202404/23/202410-Q
12/31/202302/21/202410-K
09/30/202310/24/202310-Q
06/30/202307/24/202310-Q
03/31/202304/24/202310-Q
12/31/202202/27/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202610/27/202610-Q
06/30/202607/21/202610-Q
03/31/202604/21/202610-Q
12/31/202502/24/202610-K
09/30/202510/28/202510-Q
06/30/202507/22/202510-Q
03/31/202504/22/202510-Q
12/31/202402/25/202510-K
09/30/202410/22/202410-Q
06/30/202407/23/202410-Q
03/31/202404/23/202410-Q
12/31/202302/21/202410-K
09/30/202310/24/202310-Q
06/30/202307/24/202310-Q
03/31/202304/24/202310-Q
12/31/202202/27/202310-K
09/30/202210/24/202210-Q
06/30/202207/25/202210-Q
03/31/202204/26/202210-Q
12/31/202102/22/202210-K
09/30/202110/26/202110-Q
06/30/202107/26/202110-Q
03/31/202104/26/202110-Q
12/31/202002/23/202110-K
09/30/202010/29/202010-Q
06/30/202008/03/202010-Q
03/31/202005/01/202010-Q
12/31/201902/27/202010-K

Recent Forward Guidance

Updated 10/25/2026

Latest: Q2 2026 Earnings Reported 7/22/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Capital BudgetReported650.00 Mil675.00 Mil700.00 Mil0 AffirmedGuidance: 675.00 Mil for 2026
2026 Annual ProductionReported2.352.382.40 AffirmedGuidance: 2.38 for 2026
2026 Transportation, gathering, processing and compression expenseReported1.551.581.600AffirmedGuidance: 1.58 for 2026
2026 Exploration expenseReported22.00 Mil25.00 Mil28.00 Mil0 AffirmedGuidance: 25.00 Mil for 2026
2026 G&A expenseReported0.170.180.1800AffirmedGuidance: 0.18 for 2026
2026 DD&A expenseReported0.450.460.4600AffirmedGuidance: 0.46 for 2026
2026 Net brokered gas marketing expenseReported8.00 Mil10.00 Mil12.00 Mil0 AffirmedGuidance: 10.00 Mil for 2026
2026 Direct operating expenseReported0.120.130.1300AffirmedGuidance: 0.13 for 2026
2026 Net Interest expenseReported0.070.080.0900AffirmedGuidance: 0.08 for 2026
2026 Taxes other than incomeReported0.030.040.0400AffirmedGuidance: 0.04 for 2026


Prior: Q3 2025 Earnings Reported 10/29/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 Capital BudgetReported650.00 Mil665.00 Mil680.00 Mil0 AffirmedGuidance: 665.00 Mil for 2025
2025 Annual ProductionReported 2.23 Bil 0.2% RaisedGuidance: 2.23 Bil for 2025
2025 Transportation, gathering, processing and compression expenseReported1.51.511.52 -1.5%LoweredGuidance: 1.53 for 2025
2025 Exploration expenseReported24.00 Mil26.00 Mil28.00 Mil0 AffirmedGuidance: 26.00 Mil for 2025
2025 G&A expenseReported0.170.180.18 0AffirmedGuidance: 0.18 for 2025
2025 DD&A expenseReported0.450.460.46 0AffirmedGuidance: 0.46 for 2025
2025 Net brokered gas marketing expenseReported8.00 Mil10.00 Mil12.00 Mil0 AffirmedGuidance: 10.00 Mil for 2025
2025 Direct operating expenseReported0.120.130.13 0AffirmedGuidance: 0.13 for 2025
2025 Net Interest expenseReported0.120.130.13 0AffirmedGuidance: 0.13 for 2025
2025 Taxes other than incomeReported0.030.040.04 0AffirmedGuidance: 0.04 for 2025

Insider Activity

Updated 8/6/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Spiller, Reginal DirectSell806202640.003,500140,000536,840Form
2Cline, Brenda A DirectSell409202644.407,000310,8321,272,991Form
3Degner, DennisChief Executive Officer & PresDeferred Compensation AccountSell331202646.2115,000693,150349,902Form
4McDowell, Erin WSVP & General CounselDirectSell331202648.008,250396,0004,053,648Form
5Dorman, Margaret K DirectSell319202643.242,680115,8834,923,220Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Spiller, Reginal DirectSell806202640.003,500140,000536,840Form
2Cline, Brenda A DirectSell409202644.407,000310,8321,272,991Form
3Degner, DennisChief Executive Officer & PresDeferred Compensation AccountSell331202646.2115,000693,150349,902Form
4McDowell, Erin WSVP & General CounselDirectSell331202648.008,250396,0004,053,648Form
5Dorman, Margaret K DirectSell319202643.242,680115,8834,923,220Form
6Dorman, Margaret K DirectSell319202643.429,820426,3845,060,080Form
7Spiller, Reginal DirectSell310202641.842,00083,670487,922Form
8Kavanaugh, AshleyVP, Principal Accting OfficerDirectSell304202642.0018,540  Form
9Kavanaugh, AshleyVP, Principal Accting OfficerDeferred Compensation AccountSell304202641.8883635,01237,148Form
10Scucchi, MarkEVP & CFODirectSell304202641.6630,0001,249,88727,501,430Form

Investor Activity (13F)

Updated Oct 28, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Kopernik Global Investors, LLC$189.2 Mil13.2%27TRIM -20.0%13F
SailingStone Capital Partners LLC$44.4 Mil10.1%17TRIM -6.0%13F
Goehring & Rozencwajg Associates, LLC$123.0 Mil6.6%43ADD +35.9%13F
Lingotto Investment Management LLP$325.0 Mil6.4%34Hold13F
Permit Capital, LLC$9.4 Mil3.2%19Hold13F
RR Advisors, LLC$5.7 Mil1.6%27TRIM -28.6%13F
Contrarius Group Holdings Ltd$6.8 Mil0.4%47New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Contrarius Group Holdings Ltd$6.8 Mil0.4%47New13F
Goehring & Rozencwajg Associates, LLC$123.0 Mil6.6%43ADD +35.9%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Bornite Capital Management LP$28.2 Mil2.8%28ExitedDec 31, 202513F
Peconic Partners LLC$28.2 Mil0.7%15ExitedDec 31, 202513F
Sourcerock Group LLC$24.3 Mil1.4%36ExitedDec 31, 202513F
Hatch Cove Capital, LLC$5.2 Mil2.0%22ExitedDec 31, 202513F
RR Advisors, LLC$5.7 Mil1.6%27TRIM -28.6%Mar 31, 202613F
Kopernik Global Investors, LLC$189.2 Mil13.2%27TRIM -20.0%Mar 31, 202613F
SailingStone Capital Partners LLC$44.4 Mil10.1%17TRIM -6.0%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Lingotto Investment Management LLP$325.0 Mil6.4%34Hold13F
Kopernik Global Investors, LLC$189.2 Mil13.2%27TRIM -20.0%13F
Goehring & Rozencwajg Associates, LLC$123.0 Mil6.6%43ADD +35.9%13F
SailingStone Capital Partners LLC$44.4 Mil10.1%17TRIM -6.0%13F
Permit Capital, LLC$9.4 Mil3.2%19Hold13F
Contrarius Group Holdings Ltd$6.8 Mil0.4%47New13F
RR Advisors, LLC$5.7 Mil1.6%27TRIM -28.6%13F
Core Cache Last Updated: 10/27/2026