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Canada Pension Plan Investment Board bought a new position in shares of Range Resources Corporation (NYSE:RRC – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 164,400 shares of the oil and gas exploration company’s stock, valued at approximately $6,114,000. Canada Pension Plan Investment Board owned about 0.07% of Range Resources as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Range Resources in the 2nd quarter valued at about $868,085,000. Boston Partners increased its position in Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after buying an additional 4,398,042 shares during the period. AQR Capital Management LLC increased its position in Range Resources by 517.6% during the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after buying an additional 2,045,165 shares during the period. Bank of New York Mellon Corp purchased a new stake in Range Resources in the second quarter valued at approximately $67,470,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Range Resources in the second quarter valued at approximately $53,264,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director owned 13,421 shares of the company’s stock, valued at approximately $536,840. This represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Range Resources Trading Up 0.1% Shares of Range Resources stock opened at $41.52 on Monday. The company has a 50-day moving average of $38.55 and a two-hundred day moving average of $40.28. Range Resources Corporation has a 12-month low of $32.68 and a 12-month high of $48.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. The stock has a market cap of $9.70 billion, a PE ratio of 11.47 and a beta of 0.42. Range Resources (NYSE:RRC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. The business had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. On average, research analysts anticipate that Range Resources Corporation will post 3.62 EPS for the current fiscal year.

Range Resources Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, September 11th. Range Resources’s payout ratio is presently 11.05%.

Analysts Set New Price Targets Several equities research analysts have recently weighed in on RRC shares. Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. Susquehanna reduced their price objective on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Truist Financial reduced their price objective on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Morgan Stanley decreased their price objective on Range Resources from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company lowered their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $43.75.

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Range Resources Company Profile (Free Report)

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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Key Takeaways RRC beat Q2 earnings and revenue estimates as higher production and realizations lifted results.RRC kept its $650-$700M capital budget and 2.35-2.40 Bcfe/d 2026 production outlook unchanged.Range Resources must bring 30 more wells online and ramp output toward roughly 2.5 Bcfe/d by year-end. Range Resources (RRC - Free Report) delivered a sizable second-quarter 2026 earnings and revenue beat as higher production and better price realizations supported results. The quarter also kept the company’s multiyear development plan moving forward.

The next test is execution. Improved commodity-differential guidance and operating efficiency support the second-half setup, but Range Resources still needs infrastructure, well performance and development sequencing to lift output toward its year-end target.

RRC’s Q2 Earnings and Revenue Beat ExpectationsAdjusted earnings reached 79 cents per share, up from 66 cents a year earlier and 41.1% above the Zacks Consensus Estimate of 56 cents. The result reflected higher natural gas equivalent output and improved realizations.

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Revenues of $795.3 million increased 8.5% year over year and surpassed the consensus estimate of $720 million by 10.5%. The combination gave Range Resources a meaningful second-quarter beat on both major headline measures.

Two other natural gas producers that have also reported better-than-expected second-quarter 2026 earnings are Antero Resources (AR - Free Report) and Comstock Resources (CRK - Free Report) . For more details, read our blogs, “CRK Q2 Earnings Beat Estimates, Revenues Miss on Weak Gas Prices” and “AR Q2 Earnings Beat Estimates on Record Production Gains.”

Range Resources Benefited From Better RealizationsPre-hedge natural gas liquids realizations rose 23% to $29.10 per barrel, a $3.49 premium to the Mont Belvieu equivalent. Oil realizations before hedges climbed 59% to $83.96 per barrel.

Range Resources also narrowed its 2026 natural gas differential guidance to 35 to 40 cents below NYMEX from 35 to 45 cents below and lifted its natural gas liquids outlook to a $2.00 to $2.50 premium to Mont Belvieu. Those revisions improve the realization backdrop for the second half.

RRC’s Operating Efficiency Supports the 2026 PlanSecond-quarter production averaged 2.30 billion cubic feet equivalent per day, up 4.5% year over year. Range Resources, having more than 30 years' worth of attractive Marcellus drilling opportunities, turned 21 wells to sales across roughly 300,000 lateral feet, while record drilling and completion performance supported development progress.

Image Source: Range Resources

The company retained its $650 to $700 million capital budget and 2.35 to 2.40 billion cubic feet equivalent per day production outlook.

Range Resources Still Has Work Ahead in 2026The quarter did not clear every execution hurdle. Production of 2.30 billion cubic feet equivalent per day was below the projected 2.39 billion, showing that the planned second-half ramp remains important.

Range Resources had turned 38 of its planned 68 wells to sales through the first half, leaving 30 for the remainder of 2026. Infrastructure commissioning, well performance and activity sequencing will therefore be central to reaching roughly 2.5 billion cubic feet equivalent per day by year-end.

RRC’s Cash Flow Strengthens the Impact of the BeatCash flow from operations before working-capital changes rose 10.7% year over year to $332.5 million. During the quarter, Range Resources repurchased $78 million of shares and paid $24 million in dividends.

Net debt fell to $880.8 million at June 30, 2026, down 28% from $1.22 billion at year-end 2025. That balance-sheet improvement lends more weight to the operating beat, though future cash generation remains sensitive to natural gas and natural gas liquids prices, as is the case for peers such as Antero Resources and Comstock Resources.

RRC’s Ratings Temper the Post-Earnings OptimismThe second-quarter beat, improved realizations and operating records support the 2026 growth plan, but the remaining production ramp still leaves execution risk. Range Resources must convert its second-half well schedule and infrastructure additions into the output and cash flow embedded in its targets.

RRC currently carries a Zacks Rank #4 (Sell), and has not witnessed earnings estimate revisions for 2026 over the past seven days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

3 Energy Stocks to Watch Now as LNG Demand SurgesRange Resources NYSE: RRC said its second-quarter 2026 operations kept the company on track with a multi-year growth plan, as executives pointed to record drilling and completion efficiency, rising production and higher pricing expectations for natural gas liquids and natural gas.

Chief Executive Officer Dennis Degner said the quarter marked “a unique milestone” as Range reached the midpoint of the growth plan it announced early last year. He said the company’s cost structure, well performance and marketing portfolio are supporting free cash flow while Range grows production.

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These energy stocks are most-upgraded amid falling oil pricesSecond-quarter production averaged 2.3 billion cubic feet equivalent per day, Degner said. Range expects production to rise ratably through the rest of the year, reaching 2.5 Bcfe per day by year-end as gas processing and related infrastructure move through commissioning. Executives said that outlook remains consistent with prior guidance and positions the company for 2027.

Operational efficiency drives record activity Range reported second-quarter capital spending of $222 million. Degner said the company added a second completion crew to work through part of its drilled-but-uncompleted inventory that had accumulated over the prior 24 months. The quarter also included a spot horizontal rig for a single pad development expected to turn to sales later this year.

10 Best Natural Gas Stocks to Buy NowDegner said Range expects to return to a single horizontal rig and single frac crew in the fourth quarter, keeping capital plans aligned with prior guidance. The company drilled about 190,000 lateral feet during the quarter.

Range highlighted several operational records and efficiency gains during the call:

Drilling crews recorded 19 days in which they drilled more than one mile horizontally, including one 24-hour period above 10,500 feet. Two completion crews completed nearly 1,900 frac stages during the quarter, including downtime for moves between pad sites. The two crews averaged more than 10 stages per day per crew, while the company’s contracted electric frac fleet approached 14 stages per day. The company set records for most frac stages in one day by a single crew, at 20, and highest pumping hours in one day, at 22 hours. Degner said the stronger completion efficiency allowed Range to move a portion of second-half 2026 drilling activity into 2027 while remaining aligned with its 2026 and 2027 capital and development plans. In response to an analyst question, he said Range had planned to use about 400,000 lateral feet of DUC inventory over 2026 and 2027 and remains on track, though it is “a few wells ahead.”

Capital returns and balance sheet remain priorities Chief Financial Officer Mark Scucchi said Range repurchased $78 million of shares in the second quarter, bringing first-half repurchases to $105 million. The company also paid $24 million in dividends during the quarter, for a year-to-date total of $47 million, and reduced debt by $337 million in the first half.

Scucchi said the combined effect represented $489 million of year-to-date enterprise value returned to equity holders, or roughly 5.5% of Range’s market capitalization over six months. Since launching its repurchase program, Range has bought back 35.9 million shares, reducing its share count by nearly 10%, he said.

Scucchi described Range’s balance sheet as “roughly half a turn levered” and said the company is not delaying capital returns or business investments because of balance sheet needs. He also said Range’s balance sheet metrics are stronger than investment-grade peers, though the company remains rated below investment grade. In commercial discussions, Scucchi said, the credit rating has “never been a topic of discussion.”

Marketing outlook improves for NGLs and natural gas Range raised its full-year NGL pricing guidance to a premium of $2.50 per barrel over the Mont Belvieu index, citing strong international pricing and the structure of its physical sales agreements. Degner said Range captured an NGL premium of $3.49 per barrel over Mont Belvieu in the second quarter.

The company also improved its full-year natural gas guidance to a discount of $0.35 to $0.40 per Mcf versus Henry Hub, reflecting what Degner called a strong start to the year.

Degner said U.S. exports of LNG, ethane and LPG grew sharply from year-earlier levels during the second quarter. He said LNG feed gas averaged more than 17 Bcf per day, up 17% from the same period in 2025. U.S. waterborne ethane exports were estimated at 658,000 barrels per day, up 40% year over year, and waterborne propane and butane exports exceeded 2.6 million barrels per day, up 30% year over year.

Degner said Range expects export growth to support domestic fundamentals and pricing across its products. He also pointed to additional LPG export capacity expected in early 2027 and Repauno dock capacity that Range expects to enter service in 2027 as factors supporting continued access to international markets.

Management discusses growth beyond 2027 Executives repeatedly emphasized that Range’s current plan remains on track. Scucchi said the company previously laid out a three-year plan to grow production 20% to about 2.6 Bcfe per day in 2027. He said Range estimates it can maintain that level for less than $600 million of annual drilling and completion capital, or about $0.60 per Mcfe.

In analyst questions, management said growth beyond 2027 will depend on securing a “home” for incremental production. Degner said Range could potentially continue growing at a similar rate after 2027 with similar capital investment, provided demand materializes. He cited in-basin power and data center demand, takeaway capacity and Range’s inventory depth as key factors.

Scucchi said Range has more than 30 years of Marcellus inventory and described growth as a matter of “when and how much,” depending on customer demand and margins. He said the company would not simply grow volumes and sell into the basin without confidence that production has an end market.

Range also discussed potential longer-term flexibility in midstream investments. Degner said the company could evaluate investments in gathering and compression tied to incremental supply deals, depending on the economics of those molecules compared with traditional fee-based arrangements.

Degner said Range’s 2026 capital outlook is unchanged despite some resequencing of drilling activity. He said 2027 capital should be similar to what the company has communicated, unless a larger growth opportunity requires additional investment.

About Range Resources (NYSE:RRC)Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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