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MarketScreener Homepage  >  Equities  >  Nyse  >  Range Resources    RRC

RANGE RESOURCES

(RRC)
  Report  
Delayed Quote. Delayed Nyse - 08/16 04:02:14 pm
4.1 USD   +1.74%
07/29Natural Gas Companies' Shares Lose Ground as Prices Hit Three-Year Low
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07/25RANGE RESOURCES : 2Q Earnings Snapshot
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07/25Range Announces Second Quarter 2019 Results
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Range Resources to Sell Royalty Interest for $600 Million Gross Proceeds

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07/19/2019 | 10:05am EDT

By Michael Dabaie

Range Resources Corp. (RRC) said it would sell a 2% proportionately reduced overriding royalty interest in 350,000 net surface acres in southwest Appalachia for gross proceeds of $600 million.

Shares were up 6%, to $5.43, in early trading.

The two separate transactions are effective as of March 1, 2019, and apply to existing and future Marcellus, Utica and Upper Devonian development on the subject leases.

Franco-Nevada Corp. (FNV, FNV.T) said it would acquire from Range Resources an overriding royalty interest on acreage in the Marcellus Shale for a gross purchase price of $300 million.

Independent natural gas, natural gas liquids and oil producer Range said it also completed the sale of some non-producing acreage in Pennsylvania for gross proceeds of $34 million that closed in June 2019.

The royalty interest transactions are scheduled to close during July with proceeds to repay the company's revolving credit facility. The combined gross proceeds of $634 million will reduce total debt by about 17%. Annual interest expense is expected to decline by about $30 million.

Write to Michael Dabaie at michael.dabaie@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
FRANCO NEVADA CORP 0.21% 123.1 Delayed Quote.28.59%
FRANCO NEVADA CORP 0.55% 92.78 Delayed Quote.32.22%
GOLD -0.87% 1513.26 Delayed Quote.19.06%
LONDON BRENT OIL 0.45% 58.66 Delayed Quote.8.88%
RANGE RESOURCES 1.74% 4.1 Delayed Quote.-57.16%
WTI 0.07% 54.77 Delayed Quote.21.01%
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Latest news on RANGE RESOURCES
07/29Natural Gas Companies' Shares Lose Ground as Prices Hit Three-Year Low
DJ
07/26RANGE RESOURCES CORP : Results of Operations and Financial Condition, Financial ..
AQ
07/25RANGE RESOURCES : 2Q Earnings Snapshot
AQ
07/25RANGE RESOURCES : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AN..
AQ
07/25Range Announces Second Quarter 2019 Results
GL
07/22RANGE RESOURCES : Announces Asset Sales That Will Total $634 Million
AQ
07/19Range Resources to Sell Royalty Interest for $600 Million Gross Proceeds
DJ
07/19Range Announces Asset Sales That Will Total $634 Million
GL
07/11Range Announces Conference Call to Discuss Second Quarter 2019 Financial Resu..
GL
07/02RANGE RESOURCES CORP : Change in Directors or Principal Officers, Regulation FD ..
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More news
Financials (USD)
Sales 2019 2 937 M
EBIT 2019 327 M
Net income 2019 115 M
Debt 2019 3 306 M
Yield 2019 1,95%
P/E ratio 2019 8,01x
P/E ratio 2020 7,82x
EV / Sales2019 1,47x
EV / Sales2020 1,55x
Capitalization 1 005 M
Chart RANGE RESOURCES
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Technical analysis trends RANGE RESOURCES
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 8,97  $
Last Close Price 4,10  $
Spread / Highest target 388%
Spread / Average Target 119%
Spread / Lowest Target -39,0%
EPS Revisions
Managers
NameTitle
Jeffrey L. Ventura President & Chief Executive Officer
Gregory Gene Maxwell Chairman
Dennis L. Degner Senior Vice President-Operations
Mark S. Scucchi Chief Financial Officer & Senior Vice President
James M. Funk Lead Independent Director
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1st jan.Capitalization (M$)
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