Range Resources Corp

RRC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$38.00	Qwz	Rphkrpl

Range Resources Earnings: Operations in Line With Expectations Held Back by Weak Commodity Prices

Stephen Ellis ,

Jul 24, 2024

No-moat Range Resources posted another quarter in line with guidance, with volumes within expectations and hedges making up for another weak quarter for natural gas prices. Even so, we are reducing our fair value estimate to $21 from $22. This is almost entirely the result of slightly worse strip pricing for Henry Hub natural gas and WTI crude oil for the remainder of 2024 and 2025.

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