Range Resources Corp
Latest Range Resources Corp News and Updates
Why the summer heat wave supports natural gas prices
A heat wave that has persisted in the US has helped to lift natural gas prices.
Crude Oil Prices Settle below Key Moving Averages after Brexit
Market surveys project that the global crude oil glut could narrow due to supply outages in 2016.
Inside Range Resources’ 3Q16 Earnings
For 3Q16, Range Resources reported an adjusted loss per share of $0.06—$0.09 better than the Wall Street analyst consensus estimate of $0.15 loss per share.
Why natural gas rigs aren’t likely to rise much through year-end
Natural gas rigs remain down since the beginning of the year, with no major catalyst for them to increase in the medium term.
Why cold weather warms natural gas investors
Last week, natural gas prices didn’t increase despite forecasts for cooler weather. The forecast called for weather that would be cooler, but not cold enough to cause freezing temperatures.
Range Resources’ Valuation: How Does It Compare with Peers’?
In 4Q15, Range Resources was trading at higher price-to-book and price-to-sales multiples than peers.
How Wall Street Analysts Rate CNX Resources
The median target price on CNX Resources stock is $20.50, which is ~21% higher than its July 26 closing price of $17.01.
California Resources: Why No Positive Cash Flow in 2Q16?
For 2Q16, California Resources’ (CRC) total operating revenue (excluding derivative losses) was ~$435 million or ~44% lower than 2Q15.
Why investors should closely watch natural gas inventory figures
Natural gas prices directly affect earnings for gas-weighted producers such as Chesapeake Energy Corporation (CHK), EQT Corporation (EQT), Southwestern Energy Company (SWN), and Range Resources Corporation (RRC).
Nordic Bank SEB Revises Crude Oil Price Forecasts
Leading Nordic bank SEB raised its Brent crude oil forecast to $48 per barrel for 2016 compared to its previous forecast of $44 per barrel.
What Has Hedging Done for Range Resources?
In 1Q16, natural gas hedging activities increased Range Resources’ (RRC) average realized natural gas price by $0.91 per Mcf (thousand cubic feet).
Range Resources’ 2Q16 Earnings Are Better Than Expected
In this series, we’ll analyze Range Resources’ 2Q16 earnings and revenue and look at its cash flow, operational performance, analyst ratings, and price forecasts.
Must-know: Why have oil prices remained buoyant lately?
Crude oil prices have remained buoyant lately, with last week’s rally mostly driven by higher-than-expected U.S. GDP growth.
How Range Resources Did in 1Q18
Range Resources (RRC) announced its 1Q18 earnings on April 25, after the market closed.
Must-know: Why natural gas storage figures matter to investors
Every week, the U.S. Energy Information Administration (or EIA) reports figures on natural gas inventories, or the amount of natural gas stored in facilities across the U.S.
US Power Generation Down Again: An Analysis of Trends
An increase in US power generation numbers is expected for the week ended October 30, 2015.
Spread between WTI crude oil and Brent oil has closed in significantly since YE2012
The WTI-Brent spread remained relatively unchanged last week, but has closed in significantly since year-end 2012.
Murphy Oil: Analysts’ 4Q16 EBITDA Estimates
For 4Q16, Wall Street analysts expect Murphy Oil to report EBITDA of ~$261 million—compared to adjusted EBITDA of approximately -$122 million in 4Q15.
Why names like Southwestern are poised to benefit this winter
Natural gas producers will see upside from the colder winter, as it has helped to boost natural gas prices.
Why a dip in natural gas liquids prices affects energy names
NGLs prices remain uptrend despite the falling last week, which is positive to producers.
Natural gas producers declining due to expected warm weather
Last week temperatures were colder than normal, however, natural gas fell steeply on the week despite this.
Marathon Oil: Pre-Earnings Wall Street Ratings
The median target price on Marathon Oil stock is $23.50, which is ~14% higher than its July 19 closing price of $20.54.
WTI-Brent crude oil spread moves wider on Libya disruptions
The spread between WTI crude and Brent crude moved wider on Libya supply disruptions.
How Has Range Resources’ Stock Performed in 2016?
In the last two months, Range Resources’ stock price has increased by ~68%.
Higher natural gas liquids prices help wet gas producers like LINE
NGL prices traded higher last week, helping wet gas producers. NGL prices are an important indicator to track in the energy space.
Natural gas prices rally on cold weather forecasts
The weather is the major driver of natural gas prices, so investors can get an idea of how prices will likely move in the short term.
Energy Stocks that Could Outdo Natural Gas
Between May 15 and May 22, 2017, natural gas June futures fell 0.6%. During that same period, an equally weighted selection of natural gas–weighted stocks fell 1.5%.
Analyzing Natural Gas ETFs Last Week
On December 21–28, the United States Natural Gas ETF (UNG) fell 9.4%, while the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) fell 17.5%.
The Russia-Ukraine situation’s impact on energy: Key takeaways
More U.S. gas exports creates more demand for U.S. natural gas, which supports prices and incentivizes greater production. This is positive for upstream producers.
What’s in the Cards for US Natural Gas Prices in August?
US natural gas inventories are 23.2% higher than their five-year average. High inventories could limit the upside potential for US natural gas prices.
Comparing Natural Gas ETFs’ Performances to Natural Gas Prices
Between January 18 and January 25, the United States Natural Gas ETF fell 3.6%, while the ProShares Ultra Bloomberg Natural Gas ETF fell 8.1%.
Natural Gas near $3: Which Gas-Weighted Stocks to Ride?
On March 6, 2017, natural gas futures contracts for April 2017 delivery closed at $2.9 per MMBtu, which is ~2.6% above the previous closing price.
These Gas-Weighted Stocks Could Mirror Natural Gas’s Bearishness
On April 24, 2017, natural gas futures (UNG) (BOIL) (FCG) contracts for June 2017 delivery closed at $3.16 per MMBtu (million British thermal units).
Will the Oil Rig Count Increase Natural Gas Downside Risk?
Since 2008, the natural gas rig count has fallen ~89% from its record high. But the fall was unable to stop the rise in natural gas supplies.
Could Oil’s Moves Influence Natural Gas–Weighted Stocks?
Range Resources and Antero Resources had the highest negative correlations with natural gas June futures over the past five trading sessions.
Futures Spread and the Natural Gas Market
On April 24, natural gas June 2018 futures closed at a premium of ~$0.2 to June 2019 futures. The difference is called the “futures spread.”
Natural Gas Prices Are Trading near the Key Support Again
Natural gas futures contracts for October delivery fell for the second day. Natural gas prices have been fluctuating within a trading range for the last two months.
An overview of the natural gas compression industry
Natural gas compression is essential for transporting natural gas. Compression is used several times during the natural gas production and transportation cycle.
Range Resources’ Production: Where Did It Come From?
For 4Q15, Range Resources’ production of ~1.4 Bcfe (billions of cubic feet equivalent) per day was ~12% higher than the ~1.3 Bcfe per day from 4Q14.
Are Supply Concerns Rising for Natural Gas?
On April 3, 2018, natural gas May 2018 futures closed at a premium of $0.04 to May 2019 futures.
Natural gas liquids prices rise, boosted by propane prices
The representative NGL barrel reached highs of up to ~$50 per barrel in early February, given the strength in propane prices due to a cold winter as well as natural gas prices that pushed ethane prices up.
Higher natural gas liquids prices: Key causes and beneficiaries
This week saw NGL prices trade up by 5%, a positive short-term indicator. Plus, note that NGL prices are up significantly since late June, a positive medium-term indicator.
Weather Forecast Could Push Natural Gas to Its 2018 High
On November 8, natural gas’s implied volatility was 47.4%, which was ~10.7% above its 15-day moving average.
What higher natural gas liquids prices mean for the energy sector
Natural gas liquid prices recovered somewhat last week, likely off the back of higher crude oil prices.
Lower natural gas prices last week positive for coal-to-gas switching
Last week, natural gas prices declined more than coal prices which is an incentive for power plants to use more natural gas as fuel relative to coal.
Analyzing the EIA’s natural gas inventory report and forecast
On October 23, the U.S. Energy Information Administration (or EIA) reported a 94 billion cubic feet (or bcf) natural gas inventory build for the week ending October 17.
Popular ways for investors to play natural gas prices
For most investors, the most straightforward way to play natural gas prices is through commodity ETFs or investing in equities that produce natural gas.
Why EIA Data Might Not Satisfy Natural Gas Bulls
In the week ending on December 28, the inventories spread was -17.2%.
UNG Mirrored Natural Gas Last Week while XOP Remained Flat
UNG shares trade on the NYSE like a company stock. They gained 9.09% last week.
Venezuela’s Falling Crude Oil Production Drives Oil Prices Higher
The EIA estimates that Venezuela’s crude oil production decreased by 45,000 bpd (barrels per day) to 1,465,000 bpd in April—compared to March.
Which Gas-Weighted Stocks Are Outperforming Their Peers?
On October 16–23, 2017, natural gas–weighted stocks collectively fell 3.2%—compared to a 1.5% rise in natural gas futures.
Analysts: Summer Weather Could Drive Natural Gas Prices Higher
US natural gas inventories are 19% higher than their five-year average. High natural gas inventories could keep a lid on US natural gas prices.
Why did the WTI-Brent spread continue to narrow last week?
The WTI-Brent spread continued to narrow last week. The EIA recently revised its prediction for 2014′s average WTI-Brent spread.
Natural Gas Avenues for Investors: Performance in June 19 Week
Natural gas futures increased by 0.73% from June 12–18. For investors who don’t have easy access to the futures market, there are other ow-cost avenues to bet on natural gas prices.
Why oil prices continued a 2-week rally, driving energy stocks
Crude oil prices continued to rally, as a sharper-than-expected decrease in distillates helped to support prices. Oil prices have remained relatively high and stable.
Natural Gas Fund a Better Trade Than Natural Gas This Week
Natural gas futures fell 1.2% this week. For retail investors who don’t have easy access to the futures market, there are safer, low-cost avenues to bet on natural gas.
Natural Gas Consumption and Trump Impact Natural Gas Prices
The EIA estimated that monthly US natural gas consumption fell by 3.6 Bcf per day to 62 Bcf per day in October—compared to the previous month.
Oil Rigs Are the Biggest Concern for Natural Gas
In the week ending November 10, 2017, the oil rig count rose by nine—the largest rise since June 30, 2017. Strong oil prices spurred the rise.
OPEC Crude Oil Production Is Breaking Records
The latest survey from Reuters suggested that OPEC’s crude oil production is breaking historical records. OPEC crude oil production hit 33.1 MMbpd in January 2016.
Analyzing the Futures Spread and Natural Gas Prices
On December 24, the natural gas futures for February 2019 closed at a premium of ~$0.35 to the February 2020 futures.
US Crude Oil Prices Are Almost Flat as the US Dollar Depreciates
WTI crude oil futures contracts for December delivery rose by 0.26% October 29. Crude oil prices rose due to technical buying activity and the depreciating US dollar.
Natural Gas Consumption Decreased in the Week Ending May 1
The EIA’s STEO was released on April 7. It forecasts that total natural gas consumption will average 76.3 Bcf/d in 2015 and 75.8 Bcf/d in 2016.
US Power Generation in 2015: Natural Gas up, Coal down
The EIA reported that power generation from natural gas increased in all regions of US in July, while generation from coal declined in all regions.
Understanding Range Resources’ Dividends and Dividend Yields
As of May 27, 2016, Range Resource’s dividend yield, which measures the amount of cash flow an investor can get for each dollar invested in an equity position, stood at ~0.34%.
Natural gas liquids prices fall, hurting wet gas producers
Natural gas liquids prices fell on the week but remain up significantly since lows in June.
Southwestern Energy: Could Winter Be Coming?
On February 28, analysts expect Southwestern Energy (SWN) to report fourth-quarter adjusted net income of $0.31 per diluted share, marking a 24% sequential increase.
Ethane production: The prospects and possibilities in the market
Ethane has historically received significantly more advantageous pricing than dry natural gas.
How Range Resources and EQT Corporation Performed on December 28
Range Resources Corporation was the S&P 500’s second-best performer on December 28, 2017.
Natural Gas Prices Are Trading near the Support Level
Lower natural gas prices, demand from power plants, and warm weather could support natural gas prices. The next resistance is seen at $3 per MMBtu.
Energy Sector Led the S&P 500 Lower on February 16
After a brief decline on Wednesday, the S&P 500 energy sector lost strength and fell on February 16. The rise in crude oil inventories dented the sentiment.
Futures Spread: Natural Gas Prices Might Be in Trouble
On December 31, the natural gas futures for February 2019 closed at a discount of ~$0.06 to the February 2020 futures.
How Natural Gas Could React to EIA Inventory Data
On June 20, the EIA is scheduled to release its natural gas inventory report for the week ending June 14. Any rise less than ~76 billion cubic feet could cause the inventories spread to expand more into the negative territory.
Did Institutional Investors Sell EOG Resources in 4Q17?
In 4Q17, 470 funds were “buyers” of EOG Resources (EOG) stock, and 450 funds were “sellers” of EOG stock.
Natural Gas Prices to Remain Under Pressure This Week
In the week that ended on March 22, natural gas May futures fell 1.2%. On March 22, natural gas futures fell 2.1%.
WTI-Brent spread fell below $8.00/barrel, the 1st time since October
The spread between WTI and Brent crudes closed at $7.51 per barrel on February 21, compared to the previous week’s spread of $8.81 per barrel.
Did Institutional Investors Sell Devon Energy in 4Q17?
On December 31, 2017, 740 13F filers held DVN in their portfolios, out of which 13 filers had DVN in their top ten holdings.
Natural gas drilling activity likely to remain muted
Natural gas targeted drilling in the US is likely to remain muted given the relatively low prices.
Bearish Weather Forecast Could Test Natural Gas Bulls Next Week
On October 25, natural gas’s implied volatility was 42.1%, which was ~8.2% above its 15-day moving average.
Weather and Inventory Are Making Natural Gas Traders Bearish
Bearish natural gas traders will likely bet on mild weather and could raise their short positions as demand could drop during the peak period from November to March.
Could Fall in Natural Gas Inventories Push Prices Higher?
In the week ended January 12, 2018, natural gas inventories declined by 183 Bcf (billion cubic feet) to 2,584 Bcf.
Last 2 Days: 10% Outsized Returns Seem to Disregard Long-Term Risks
WTI (West Texas Intermediate) crude oil for May futures increased by 3.53% on April 7, 2015. Oil prices were $53.98 per barrel at the close of trade.
Futures Spread: Are Natural Gas’s Bullish Sentiments Rising?
On September 25, the natural gas futures for November closed at a premium of ~$0.35 to their November 2019 futures.
Low natural gas liquids prices cut into wet gas producer revenues
Natural gas liquids traded down on the week, though they remain up significantly since mid-2013 lows.
Natural gas rig counts see largest weekly increase since September
Baker Hughes, an oilfield services company, reported that rigs targeting natural gas rose last week, from 335 to 345 for the week ended March 7, 2014
Cabot’s stock performance when commodity prices plummeted
Most of the stock performance declined as natural gas prices and oil prices declined. So did the energy sector ETF, the Energy Select Sector SPDR ETF (XLE).
Crude Oil and Natural Gas on a Tear: Which Natural Gas Stocks are Gaining?
Between March 3, 2016, and November 6, 2017, natural gas active futures rose 91.2% from their 17-year low.
Why analysts forecast an $11-per-barrel WTI-Brent oil spread
WTI-Brent spread traded slightly narrower last week. WTI had been trading as low as $23 per barrel under Brent in February of 2013. Over the course of the year, the spread narrowed due to several factors.
Natural Gas Futures Spread: Are the Bullish Sentiments Declining?
On December 11, the natural gas futures for January 2019 closed at a premium of ~$1.2 to the January 2020 futures.
Where Natural Gas Could End Next Week
Natural gas futures are expected to close between $2.74 and $2.90 per MMBtu (million British thermal units) 68.0% of the time until September 21.
Is Oil Losing Its Grip on Natural Gas–Weighted Stocks?
Southwestern Energy had a correlation of 35.9% with US crude oil May futures on March 21–28, 2018.
How Oil Rigs Impact Natural Gas Production
The natural gas rig count was at 187 last week. The natural gas rig count has fallen ~88.4% from its record level of 1,606 in 2008.
Why the WTI-Brent oil spread traded below $4 per barrel
Last week’s narrowing in the WTI-Brent spread might have been partly due to the rise in WTI crude oil prices on positive U.S. economic indicators and a drop in U.S. gasoline inventories.
Why natural gas liquids prices have trended up for 7 months
This week saw NGL prices trade up, a positive short-term indicator. Plus, note that NGL prices are up significantly since late June—a positive medium-term indicator.
Why Natural Gas Has Fallen 10% on January 22
On January 22, natural gas February futures fell to an intraday low of $3.13 per MMBtu, which is ~10% below the last closing level.
Milder temps last week put downward pressure on nat gas demand
Last week’s weather was slightly milder than normal, which is a negative for natural gas prices as less of the commodity is needed to generate power for cooling devices.
Natural Gas Prices Are Trading above Key Moving Averages
US natural gas inventories are 25% higher than their five-year average. High natural gas inventories could also limit the upside for US natural gas prices.
Chipotle’s Plan to Woo Back Customers Propelled It to Top of Spy
Stocks at the top of the SPDR S&P 500 ETF (SPY) on January 13 were Southwestern Energy (SWN), Chipotle Mexican Grill (CMG), and Range Resources (RRC).
Here’s Why Upstream Underperformed the Energy Space
Between August 31 and September 7, upstream stock Southwestern Energy Company (SWN) fell the most on our list of energy stocks.
A Look at the Rig Count and Natural Gas
On December 15, 2017, the natural gas rig count was 88.6% lower than its record high in 2008.
Will Natural Gas Rise This Week?
On April 18–26, natural gas active futures rose 1.8%. Natural gas to closed at $2.58 per MMBtu on April 26.