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Posted by Defense World Staff on Jul 23rd, 2026

California Public Employees Retirement System cut its stake in Range Resources Corporation (NYSE:RRC – Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,309 shares of the oil and gas exploration company’s stock after selling 20,670 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Range Resources worth $20,481,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Range Resources by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company’s stock worth $975,311,000 after purchasing an additional 326,748 shares in the last quarter. Vanguard Group Inc. boosted its stake in Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after purchasing an additional 701,751 shares in the last quarter. Boston Partners increased its position in shares of Range Resources by 14.0% during the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock valued at $474,585,000 after purchasing an additional 1,650,258 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Range Resources by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,965,029 shares of the oil and gas exploration company’s stock valued at $316,123,000 after purchasing an additional 673,827 shares during the period. Finally, Kopernik Global Investors LLC raised its stake in shares of Range Resources by 18.5% in the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company’s stock worth $184,724,000 after buying an additional 818,295 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 2.6% NYSE RRC opened at $38.74 on Thursday. The firm’s 50 day moving average price is $38.35 and its two-hundred day moving average price is $39.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 10.70 and a beta of 0.41.

Range Resources (NYSE:RRC – Get Free Report) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.14. Range Resources had a return on equity of 18.99% and a net margin of 25.04%.The company had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts anticipate that Range Resources Corporation will post 3.46 EPS for the current year.

Range Resources Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s payout ratio is 10.58%.

Wall Street Analysts Forecast Growth RRC has been the topic of several research reports. Citigroup dropped their price target on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group cut their target price on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Bank of America lifted their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. UBS Group reduced their price objective on Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, Susquehanna decreased their price target on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.18.

Check Out Our Latest Report on Range Resources

Range Resources News Summary Here are the key news stories impacting Range Resources this week:

Positive Sentiment: Range Resources beat Q2 earnings and revenue estimates, reporting $0.79 EPS on $759.6 million in revenue, both above consensus, while also delivering higher output and stronger price realizations. Article Title Positive Sentiment: The company said it is targeting 2.5 Bcfe/d by year-end and outlined 2026 gas guidance of $0.35-$0.40/Mcf, signaling confidence in production growth and operational discipline. Article Title Positive Sentiment: Management highlighted record production and strategic execution on the Q2 earnings call, reinforcing the view that the business is benefiting from improved operating efficiency. Article Title Positive Sentiment: Investors may also be encouraged by the completion of Range Resources’ multi-year buyback program, which can support per-share value. Article Title Neutral Sentiment: Susquehanna lowered its price target on RRC to $41 from $45 and kept a neutral rating, which may temper enthusiasm but does not change the broader earnings-driven narrative. Article Title Negative Sentiment: Some coverage noted the stock fell after the earnings release, suggesting investors are still weighing strong fundamentals against execution and commodity-price risks. Article Title About Range Resources (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.

See Also Five stocks we like better than Range Resources Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying Moog Is More Than a Missile Maker, and Wall Street Is Noticing A Boring Dividend Growth Strategy Becomes a Solid Defensive Play Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corporation (NYSE:RRC – Free Report).

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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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Posted by Defense World Staff on Jul 22nd, 2026

Dimensional Fund Advisors LP raised its stake in shares of Range Resources Corporation (NYSE:RRC – Free Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,192,740 shares of the oil and gas exploration company’s stock after buying an additional 227,711 shares during the quarter. Dimensional Fund Advisors LP owned about 3.90% of Range Resources worth $415,354,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RRC. Seelaus Asset Management LLC increased its holdings in shares of Range Resources by 2.6% during the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after acquiring an additional 250 shares in the last quarter. Root Financial Partners LLC boosted its stake in Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 276 shares in the last quarter. UMB Bank n.a. boosted its stake in Range Resources by 13.0% in the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after purchasing an additional 279 shares in the last quarter. Confluence Wealth Services Inc. boosted its stake in Range Resources by 3.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock worth $360,000 after purchasing an additional 312 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its position in Range Resources by 0.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock valued at $1,745,000 after purchasing an additional 330 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Analyst Ratings Changes A number of research firms have weighed in on RRC. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Truist Financial decreased their price objective on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a report on Friday, July 10th. Bank of America upped their price objective on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Finally, UBS Group cut their target price on Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.12.

Check Out Our Latest Research Report on Range Resources

Range Resources Price Performance RRC opened at $37.70 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $8.88 billion, a P/E ratio of 9.97 and a beta of 0.41. The company’s 50-day simple moving average is $38.40 and its two-hundred day simple moving average is $39.38. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31.

Range Resources (NYSE:RRC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $898.20 million. During the same quarter last year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. As a group, analysts predict that Range Resources Corporation will post 3.46 EPS for the current year.

Range Resources Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. Range Resources’s dividend payout ratio is 10.58%.

Range Resources 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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FORT WORTH, Texas, July 21, 2026 (GLOBE NEWSWIRE) -- RESOURCES CORPORATION (NYSE: RRC) today announced its second quarter 2026 financial results.

Second Quarter 2026 Highlights –

Cash flow from operating activities of $235 millionCash flow from operations, before working capital changes, of $333 millionRepurchased $78 million of shares and paid $24 million in dividendsRealized price, including hedges, was $3.53 per mcfe – a $0.64 premium versus NYMEX natural gasPre-hedge NGL realizations of $29.10 per barrel, a premium of $3.49 over the Mont Belvieu equivalentNatural gas differential, including basis hedging, of ($0.47) per mcf to NYMEXProduction averaged 2.30 Bcfe per day, approximately 67% natural gasRecord completion efficiency with 1,900 stages completed by two crews and single-day record of 22 hours pumpingRecord drilling efficiency of nearly two miles drilled in a single dayCapital spending was $222 million, approximately 33% of the annual 2026 budget Commenting on the results, Dennis Degner, the Company’s CEO said, “Range’s year-to-date results reflect continued progress on our multi-year growth plan, which was supported by record drilling and completion efficiencies in the most recent quarter. Range’s strategic access to international markets drove a record NGL premium for the quarter, bolstering margins. The resulting strong free cash flow funded shareholder returns through dividends and share repurchases while advancing our operational momentum.

Looking beyond our announced development plans through 2027, we expect steadily increasing demand for natural gas will require additional supply from Appalachia, as the lowest-cost, longest duration natural gas basin in the United States. Range’s strong financial position and operational momentum provide us with the flexibility to shape our capital reinvestment plans to meet this demand as it materializes, while prioritizing returns of capital to shareholders. We believe Range’s extensive Marcellus inventory, diverse marketing access and advantaged full-cycle cost structure provide the necessary foundation for supplying both domestic and international energy demand growth while consistently delivering returns to shareholders for decades to come.”

Financial Discussion

Except for generally accepted accounting principles (“GAAP”) reported amounts, specific expense categories exclude non-cash impairments, unrealized mark-to-market adjustment on derivatives, non-cash stock compensation and other items shown separately on the attached tables. “Unit costs” as used in this release are composed of direct operating, transportation, gathering, processing and compression, taxes other than income, general and administrative, interest and depletion, depreciation and amortization costs divided by production. See “Non-GAAP Financial Measures” for a definition of non-GAAP financial measures and the accompanying tables that reconcile each non-GAAP measure to its most directly comparable GAAP financial measure.

Second Quarter 2026 Results

GAAP revenues and other income for second quarter 2026 totaled $834 million, GAAP net cash provided from operating activities (including changes in working capital) was $235 million, and GAAP net income was $195 million ($0.83 per diluted share). Second quarter earnings results include a $74 million mark-to-market derivative gain due to decreases in commodity prices.

Cash flow from operations before changes in working capital, a non-GAAP measure, was $333 million. Adjusted net income comparable to analysts’ estimates, a non-GAAP measure, was $186 million ($0.79 per diluted share) in second quarter 2026.

The following table details Range’s second quarter 2026 unit costs per mcfe(a):

Expenses 2Q 2026
(per mcfe) 2Q 2025
(per mcfe)  Increase
(Decrease)        Direct operating(a) $0.13 $0.11  18%Transportation, gathering,
processing and compression(a) 1.52 1.52  0%Taxes other than income 0.03 0.04  (25)%General and administrative(a) 0.18 0.16  13%Interest expense(a) 0.07 0.13  (46)%Total cash unit costs(b) 1.92 1.97  (3)%Depletion, depreciation and
amortization (DD&A) 0.45 0.46  (2)%Total unit costs plus DD&A(b) $2.37 $2.43  (2)%        (a) Excludes stock-based compensation, one-time settlements, and amortization of debt issuance costs.
(b) Totals may not add due to rounding.

The following table details Range’s average production and realized pricing for second quarter 2026(a):

 2Q26 Production & Realized Pricing
 Natural Gas
(mcf)
 Oil
(bbl)
 NGLs
(bbl)
 Natural Gas
Equivalent (mcfe)
           Net production per day1,548,871 6,475 118,113 2,296,399        Average NYMEX price$2.89 $93.58 $25.61  Differential, including basis hedging(0.47) (9.62) 3.49  Realized prices before NYMEX hedges2.42 83.96 29.10 3.37Settled NYMEX hedges0.36 (17.50) (0.67) 0.16Average realized prices after hedges$2.79 $66.45 $28.44 $3.53 (a) Totals may not add due to rounding.

Second quarter 2026 natural gas, NGLs and oil price realizations (including the impact of cash-settled hedges and derivative settlements) averaged $3.53 per mcfe.

The average natural gas price, including the impact of basis hedging, was $2.42 per mcf, or a ($0.47) per mcf differential to NYMEX. Range is improving its 2026 natural gas differential to average ($0.35) to ($0.40) relative to NYMEX.Range’s pre-hedge NGL price during the quarter was $29.10 per barrel, approximately $3.49 above the Mont Belvieu weighted equivalent. Range is improving its full-year NGL price guidance to a range of +$2.00 to +$2.50 relative to a Mont Belvieu equivalent barrel.Crude oil and condensate price realizations, before realized hedges, averaged $83.96 per barrel, or $9.62 below WTI (West Texas Intermediate). Range is improving its 2026 condensate differential to average ($10.00) to ($12.00) relative to WTI. Financial Position and Repurchase Activity

As of June 30, 2026, Range had net debt outstanding of approximately $881 million, consisting of $500 million of senior notes and $381 million on the credit facility.

During the quarter, Range repurchased 2,000,000 shares at an average price of approximately $39.18 per share. As of June 30, 2026, the Company had $1.4 billion of availability under the share repurchase program.

Capital Expenditures and Operational Activity

Second quarter 2026 drilling and completion expenditures were $204 million. In addition, during the quarter, approximately $8 million was invested in acreage, and $10 million was invested in infrastructure, pneumatic upgrades, and other investments. Second quarter capital spending represented approximately 33% of Range’s total capital budget in 2026.

During the quarter, Range drilled ~190,000 lateral feet across 11 wells, while turning to sales ~300,000 feet across 21 wells. The table below summarizes expected 2026 activity plans regarding the number of wells to sales in each area.

 Wells TIL
1H 2026 Remaining
2026 Planned Wells
TIL in 2026Liquids Rich31 19 50Dry Gas7 11 18Total Appalachia38 30 68
Guidance – 2026

Capital & Production Guidance

Range’s 2026 all-in capital budget is $650 million - $700 million. Annual production is expected to be approximately 2.35 - 2.40 Bcfe per day in 2026. Liquids are expected to be over 30% of production.

Full Year 2026 Expense Guidance

Direct operating expense:$0.12 - $0.13 per mcfeTransportation, gathering, processing and compression expense (GP&T):$1.55 - $1.60 per mcfeTaxes other than income:$0.03 - $0.04 per mcfeExploration expense:$22 - $28 millionG&A expense:$0.17 - $0.18 per mcfeNet Interest expense:$0.07 - $0.09 per mcfeDD&A expense:$0.45 - $0.46 per mcfeNet brokered gas marketing expense:$8 - $12 million
Updated Full Year 2026 Price Guidance

Based on recent market indications, Range expects to average the following price differentials for its production in 2026.

 Updated Guidance Prior GuidanceFY 2026 Natural Gas:(1)NYMEX minus $0.35 to $0.40 NYMEX minus $0.35 to $0.45FY 2026 Natural Gas Liquids:(2)MB plus $2.00 to $2.50 per barrel MB plus $1.25 to $2.50 per barrelFY 2026 Oil/Condensate:WTI minus $10.00 to $12.00 WTI minus $10.00 to $14.00 (1) Includes basis hedging(2) Mont Belvieu-equivalent pricing based on weighting of 53% ethane, 27% propane, 8% normal butane, 4% iso-butane and 8% natural gasoline.
Hedging Status

Range hedges portions of its expected future production volumes to increase the predictability of cash flow and maintain a strong, flexible financial position. Please see the detailed hedging schedule posted on the Range website under Investor Relations - Financial Information.

Range has also hedged basis across the Company’s numerous natural gas sales points to limit volatility between benchmark and regional prices. The combined fair value of natural gas basis hedges as of June 30, 2026, was a net loss of $10.6 million.

Conference Call Information

A conference call to review the financial results is scheduled on Wednesday, July 22 at 8:00 AM Central Time (9:00 AM Eastern Time). Please click here to pre-register for the conference call and obtain a dial in number with passcode.

A simultaneous webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company's website until August 22nd.

Non-GAAP Financial Measures

To supplement the presentation of its financial results prepared in accordance with generally accepted accounting principles (GAAP), the Company’s earnings press release contains certain financial measures that are not presented in accordance with GAAP. Management believes certain non-GAAP measures may provide financial statement users with meaningful supplemental information for comparisons within the industry. These non-GAAP financial measures may include, but are not limited to Net Income, excluding certain items, Cash flow from operations before changes in working capital, realized prices, Net debt and Cash margin.

Adjusted net income comparable to analysts’ estimates as set forth in this release represents income or loss from operations before income taxes adjusted for certain non-cash items (detailed in the accompanying table) less income taxes. We believe adjusted net income comparable to analysts’ estimates is calculated on the same basis as analysts’ estimates and that many investors use this published research in making investment decisions and evaluating operational trends of the Company and its performance relative to other oil and gas producing companies. Diluted earnings per share (adjusted) as set forth in this release represents adjusted net income comparable to analysts’ estimates on a diluted per share basis. A table is included which reconciles income or loss from operations to adjusted net income comparable to analysts’ estimates and diluted earnings per share (adjusted). On its website, the Company provides additional comparative information on prior periods.

Cash flow from operations before changes in working capital represents net cash provided by operations before changes in working capital and exploration expense adjusted for certain non-cash compensation items. Cash flow from operations before changes in working capital (sometimes referred to as “adjusted cash flow”) is widely accepted by the investment community as a financial indicator of an oil and gas company’s ability to generate cash to internally fund exploration and development activities and to service debt. Cash flow from operations before changes in working capital is also useful because it is widely used by professional research analysts in valuing, comparing, rating and providing investment recommendations of companies in the oil and gas exploration and production industry. In turn, many investors use this published research in making investment decisions. Cash flow from operations before changes in working capital is not a measure of financial performance under GAAP and should not be considered as an alternative to cash flows from operations, investing, or financing activities as an indicator of cash flows, or as a measure of liquidity. A table is included which reconciles net cash provided by operations to cash flow from operations before changes in working capital as used in this release. On its website, the Company provides additional comparative information on prior periods for cash flow, cash margins and non-GAAP earnings as used in this release.

The cash prices realized for oil and natural gas production, including the amounts realized on cash-settled derivatives and net of transportation, gathering, processing and compression expense, is a critical component in the Company’s performance tracked by investors and professional research analysts in valuing, comparing, rating and providing investment recommendations and forecasts of companies in the oil and gas exploration and production industry. In turn, many investors use this published research in making investment decisions. Due to the GAAP disclosures of various derivative transactions and third-party transportation, gathering, processing and compression expense, such information is now reported in various lines of the income statement. The Company believes that it is important to furnish a table reflecting the details of the various components of each income statement line to better inform the reader of the details of each amount and provide a summary of the realized cash-settled amounts and third-party transportation, gathering, processing and compression expense, which were historically reported as natural gas, NGLs and oil sales. This information is intended to bridge the gap between various readers’ understanding and fully disclose the information needed.

Net debt is calculated as total debt less cash and cash equivalents. The Company believes this measure is helpful to investors and industry analysts who utilize Net debt for comparative purposes across the industry.

The Company discloses in this release the detailed components of many of the single line items shown in the GAAP financial statements included in the Company’s Annual or Quarterly Reports on Form 10-K or 10-Q. The Company believes that it is important to furnish this detail of the various components comprising each line of the Statements of Operations to better inform the reader of the details of each amount, the changes between periods and the effect on its financial results.

We believe that the presentation of PV10 value of our proved reserves is a relevant and useful metric for our investors as supplemental disclosure to the standardized measure, or after-tax amount, because it presents the discounted future net cash flows attributable to our proved reserves before taking into account future corporate income taxes and our current tax structure. While the standardized measure is dependent on the unique tax situation of each company, PV10 is based on prices and discount factors that are consistent for all companies. Because of this, PV10 can be used within the industry and by credit and security analysts to evaluate estimated net cash flows from proved reserves on a more comparable basis.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

Included within this release are certain “forward-looking statements” within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are not limited to historical facts, but reflect Range’s current beliefs, expectations or intentions regarding future events.  Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “outlook”, “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements.

All statements, except for statements of historical fact, made within regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future well costs, expected asset sales, well productivity, future liquidity and financial resilience, anticipated exports and related financial impact, NGL market supply and demand, future commodity fundamentals and pricing, future capital efficiencies, future shareholder value, emerging plays, capital spending, anticipated drilling and completion activity, acreage prospectivity, expected pipeline utilization and future guidance information, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and Range's future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements. Further information on risks and uncertainties is available in Range's filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K. Unless required by law, Range undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.

The SEC permits oil and gas companies, in filings made with the SEC, to disclose proved reserves, which are estimates that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions as well as the option to disclose probable and possible reserves. Range has elected not to disclose its probable and possible reserves in its filings with the SEC. Range uses certain broader terms such as "resource potential,” “unrisked resource potential,” "unproved resource potential" or "upside" or other descriptions of volumes of resources potentially recoverable through additional drilling or recovery techniques that may include probable and possible reserves as defined by the SEC's guidelines. Range has not attempted to distinguish probable and possible reserves from these broader classifications. The SEC’s rules prohibit us from including in filings with the SEC these broader classifications of reserves. These estimates are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of actually being realized. Unproved resource potential refers to Range's internal estimates of hydrocarbon quantities that may be potentially discovered through exploratory drilling or recovered with additional drilling or recovery techniques and have not been reviewed by independent engineers. Unproved resource potential does not constitute reserves within the meaning of the Society of Petroleum Engineer's Petroleum Resource Management System and does not include proved reserves. Area wide unproven resource potential has not been fully risked by Range's management. “EUR”, or estimated ultimate recovery, refers to our management’s estimates of hydrocarbon quantities that may be recovered from a well completed as a producer in the area. These quantities may not necessarily constitute or represent reserves within the meaning of the Society of Petroleum Engineer’s Petroleum Resource Management System or the SEC’s oil and natural gas disclosure rules. Actual quantities that may be recovered from Range's interests could differ substantially. Factors affecting ultimate recovery include the scope of Range's drilling program, which will be directly affected by the availability of capital, drilling and production costs, commodity prices, availability of drilling services and equipment, drilling results, lease expirations, transportation constraints, regulatory approvals, field spacing rules, recoveries of gas in place, length of horizontal laterals, actual drilling results, including geological and mechanical factors affecting recovery rates and other factors. Estimates of resource potential may change significantly as development of our resource plays provides additional data.

In addition, our production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price or drilling cost changes. Investors are urged to consider closely the disclosure in our most recent Annual Report on Form 10-K, available from our website at www.rangeresources.com or by written request to 100 Throckmorton Street, Suite 1200, Fort Worth, Texas 76102. You can also obtain this Form 10-K on the SEC’s website at www.sec.gov or by calling the SEC at 1-800-SEC-0330.

SOURCE: Range Resources Corporation

Range Investor Contacts:

Laith Sando
817-869-4267

Matt Schmid
817-869-1538

Range Media Contact:

Mark Windle
724-873-3223

RANGE RESOURCES CORPORATION
  STATEMENTS OF OPERATIONS
Based on GAAP reported earnings with additional
details of items included in each line in Form 10-Q
(Unaudited, In thousands, except per share data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  %  2026  2025  % Revenues and other income:                 Natural gas, NGLs and oil sales (a)$702,087  $666,638     $1,712,339  $1,458,558    Derivative fair value income (loss) 73,540   154,747      40,111   (4,210)   Brokered natural gas and marketing 57,496   33,009      114,725   87,417    ARO settlement gain (b) -   1      -   1    Interest income (b) 27   1,762      82   4,815    Gain on sale of assets (b) 23   102      29   164    Other (b) 398   16      455   84    Total revenues and other income 833,571   856,275  -3%  1,867,741   1,546,829  21%                  Costs and expenses:                 Direct operating 27,273   22,616      55,401   47,452    Direct operating - stock-based compensation (c) 518   504      1,064   1,041    Transportation, gathering, processing and compression 316,812   304,714      640,141   610,823    Taxes other than income 6,926   7,835      12,749   14,822    Brokered natural gas, NGLs and marketing 58,620   34,183      115,859   91,544    Brokered natural gas, NGLs and marketing - stock-based compensation (c) 717   802      1,601   1,642    Exploration 6,112   7,562      11,808   13,606    Exploration - stock-based compensation (c) 386   366      720   713    Abandonment and impairment of unproved properties 4,561   6,781      8,458   11,355    General and administrative 36,579   32,757      71,032   64,310    General and administrative - stock-based compensation (c) 10,471   9,326      21,096   19,437    General and administrative - lawsuit settlements and other 657   63      930   90    Exit costs 9,569   8,502      16,519   17,399    Deferred compensation plan (d) (1,756)  (88)     787   2,791    Interest expense 13,587   25,630      32,179   53,415    Interest expense - amortization of debt issuance costs (e) 830   1,166      1,657   2,542    Loss (gain) on early extinguishment of debt -   -      12,344   (3)   Depletion, depreciation and amortization 93,082   91,514      181,608   182,073    Total costs and expenses 584,944   554,233  6%  1,185,953   1,135,052  4%                  Income before income taxes 248,627   302,042  -18%  681,788   411,777  66%                  Income tax expense                 Current 2,629   4,645      8,430   6,645    Deferred 50,675   59,819      136,405   70,502      53,304   64,464      144,835   77,147                      Net income$195,323  $237,578  -18% $536,953  $334,630  60%                                    Net income Per Common Share                 Basic$0.83  $0.99     $2.28  $1.40    Diluted$0.83  $0.99     $2.27  $1.39                      Weighted average common shares outstanding, as reported                 Basic 234,739   238,187  -1%  234,893   239,106  -2%Diluted 236,210   239,717  -1%  236,348   240,772  -2%                                    (a) See separate natural gas, NGLs and oil sales information table.
(b) Included in Other income in the 10-Q.
(c) Costs associated with stock compensation and amortization, which have been reflected in the categories associated with the direct personnel costs, are combined with the cash costs in the 10-Q.
(d) Reflects the change in market value of the vested Company stock held in the deferred compensation plan.
(e) Included in interest expense in the 10-Q.
RANGE RESOURCES CORPORATION             BALANCE SHEET     (Unaudited, In thousands)      June 30,  December 31,  2026  2025 Assets     Current assets$322,502  $390,835 Derivative assets 123,343   69,397 Natural gas, NGLs and oil properties, net (successful efforts method) 6,878,562   6,708,366 Other property and equipment, net 11,703   4,935 Operating lease right-of-use assets 147,179   173,477 Other 78,654   74,938  $7,561,943  $7,421,948       Liabilities and Stockholders' Equity     Current liabilities$641,525  $658,783 Asset retirement obligations 1,173   1,173 Derivative liabilities 2,141   1,196       Bank debt, net of unamortized debt issuance costs 370,889   106,700 Senior notes, net of unamortized debt issuance costs 496,196   1,091,634 Deferred tax liabilities 838,000   701,601 Derivative liabilities 1,246   2,363 Deferred compensation liabilities 70,941   68,635 Operating lease liabilities 93,072   115,515 Asset retirement obligations and other liabilities 158,802   153,081 Divestiture contract obligation 179,209   202,586   2,853,194   3,103,267       Common stock and retained deficit 5,560,981   5,064,743 Accumulated other comprehensive income 401   424 Common stock held in treasury (852,633)  (746,486)Total stockholders' equity 4,708,749   4,318,681  $7,561,943  $7,421,948  RECONCILIATION OF TOTAL DEBT AS REPORTED
TO NET DEBT, a non-GAAP measure
(Unaudited, in thousands)
 June 30,  December 31,     2026  2025  %          Total debt, net of unamortized debt issuance costs, as reported$867,085  $1,198,334  -28%Unamortized debt issuance costs, as reported 13,915   19,666    Less cash and cash equivalents, as reported (247)  (204)   Net debt, a non-GAAP measure$880,753  $1,217,796  -28% RANGE RESOURCES CORPORATION
  CASH FLOWS FROM OPERATING ACTIVITIES
(Unaudited, in thousands)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025             Net income$195,323  $237,578  $536,953  $334,630 Adjustments to reconcile net cash provided from continuing operations:           Deferred income tax expense 50,675   59,819   136,405   70,502 Depletion, depreciation and amortization 93,082   91,514   181,608   182,073 Abandonment and impairment of unproved properties 4,561   6,781   8,458   11,355 Derivative fair value (income) loss (73,540)  (154,747)  (40,111)  4,210 Cash settlements on derivative financial instruments 35,288   31,466   (14,007)  36,039 Divestiture contract obligation, including accretion 9,569   8,502   16,519   17,399 Amortization of deferred financing costs and other 1,091   962   2,190   2,144 Deferred and stock-based compensation 10,492   11,047   25,823   26,130 Gain on sale of assets (23)  (102)  (29)  (164)Loss (gain) on early extinguishment of debt -   -   12,344   (3)            Changes in working capital:           Accounts receivable (13,398)  96,785   68,779   68,064 Other current assets 6,107   518   (85)  (8,510)Accounts payable (76,901)  (27,023)  6,322   9,158 Accrued liabilities and other (7,311)  (26,912)  (87,018)  (86,754)Net changes in working capital (91,503)  43,368   (12,002)  (18,042)Net cash provided from operating activities$235,015  $336,188  $854,151  $666,273                         RECONCILIATION OF NET CASH PROVIDED FROM OPERATING           ACTIVITIES, AS REPORTED, TO CASH FLOW FROM OPERATIONS           BEFORE CHANGES IN WORKING CAPITAL, a non-GAAP measure           (Unaudited, in thousands)            Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025 Net cash provided from operating activities, as reported$235,015  $336,188  $854,151  $666,273 Net changes in working capital 91,503   (43,368)  12,002   18,042 Exploration expense 6,112   7,562   11,808   13,606 Lawsuit settlements 411   63   426   90 Sale of seismic data (360)  -   (360)  - Non-cash compensation adjustment and other (171)  66   (584)  (109)Cash flow from operations before changes in working capital - non-GAAP measure$332,510  $300,511  $877,443  $697,902                         ADJUSTED WEIGHTED AVERAGE SHARES OUTSTANDING           (Unaudited, in thousands)            Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025 Basic:           Weighted average shares outstanding 234,986   238,804   235,150   239,785 Stock held by deferred compensation plan (247)  (617)  (257)  (679)Adjusted basic 234,739   238,187   234,893   239,106             Dilutive:           Weighted average shares outstanding 234,986   238,804   235,150   239,785 Dilutive stock options under treasury method 1,224   913   1,198   987 Adjusted dilutive 236,210   239,717   236,348   240,772  RANGE RESOURCES CORPORATION
  RECONCILIATION OF NATURAL GAS, NGLs AND OIL SALES
AND DERIVATIVE FAIR VALUE INCOME (LOSS) TO
CALCULATED CASH REALIZED NATURAL GAS, NGLs AND
OIL PRICES WITH AND WITHOUT THIRD-PARTY
TRANSPORTATION, GATHERING, PROCESSING AND
COMPRESSION COSTS, a non-GAAP measure
(Unaudited, In thousands, except per unit data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  %  2026  2025  % Natural gas, NGLs and Oil Sales components:                 Natural gas sales$339,796  $397,955     $1,043,877  $888,332    NGLs sales 312,822   238,034      572,054   513,688    Oil sales 49,469   30,649      96,408   56,538    Total Natural Gas, NGLs and Oil Sales, as reported$702,087  $666,638  5% $1,712,339  $1,458,558  17%                  Derivative Fair Value Income (Loss), as reported$73,540  $154,747     $40,111  $(4,210)   Cash settlements on derivative financial instruments - (gain) loss:                 Natural gas (52,789)  (29,114)     (7,120)  (33,843)   NGLs 7,190   (1,508)     7,190   (1,096)   Oil 10,311   (844)     13,937   (1,100)   Total change in fair value related to commodity derivatives prior to settlement, a non-GAAP measure$38,252  $123,281     $54,118  $(40,249)                     Transportation, gathering, processing and compression components:                 Natural Gas$152,091  $154,704     $321,297  $312,223    NGLs 163,854   149,209      317,198   297,047    Oil 867   801      1,646   1,553    Total transportation, gathering, processing and compression, as reported$316,812  $304,714     $640,141  $610,823                      Natural gas, NGL and Oil sales, including cash-settled derivatives: (c)                 Natural gas sales$392,585  $427,069     $1,050,997  $922,175    NGLs sales 305,632   239,542      564,864   514,784    Oil Sales 39,158   31,493      82,471   57,638    Total$737,375  $698,104  6% $1,698,332  $1,494,597  14%                  Production of natural gas, NGLs and oil during the periods (a):                 Natural Gas (mcf) 140,947,296   136,297,159  3%  276,743,067   272,260,589  2%NGLs (bbls) 10,748,270   10,029,051  7%  20,485,652   19,949,040  3%Oil (bbls) 589,230   580,791  1%  1,330,754   1,004,370  32%Gas equivalent (mcfe) (b) 208,972,296   199,956,211  5%  407,641,503   397,981,049  2%                  Production of natural gas, NGLs and oil - average per day (a):                 Natural Gas (mcf) 1,548,871   1,497,771  3%  1,528,967   1,504,202  2%NGLs (bbls) 118,113   110,209  7%  113,180   110,216  3%Oil (bbls) 6,475   6,382  1%  7,352   5,549  32%Gas equivalent (mcfe) (b) 2,296,399   2,197,321  5%  2,252,163   2,198,790  2%                  Average prices, excluding derivative settlements and before third-party transportation costs:                 Natural Gas (per mcf)$2.41  $2.92  -17% $3.77  $3.26  16%NGLs (per bbl)$29.10  $23.73  23% $27.92  $25.75  8%Oil (per bbl)$83.96  $52.77  59% $72.45  $56.29  29%Gas equivalent (per mcfe) (b)$3.36  $3.33  1% $4.20  $3.66  15%                  Average prices, including derivative settlements before third-party transportation costs: (c)                 Natural Gas (per mcf)$2.79  $3.13  -11% $3.80  $3.39  12%NGLs (per bbl)$28.44  $23.88  19% $27.57  $25.80  7%Oil (per bbl)$66.45  $54.22  23% $61.97  $57.39  8%Gas equivalent (per mcfe) (b)$3.53  $3.49  1% $4.17  $3.75  11%                  Average prices, including derivative settlements and after third-party transportation costs: (d)                 Natural Gas (per mcf)$1.71  $2.00  -15% $2.64  $2.24  18%NGLs (per bbl)$13.19  $9.01  46% $12.09  $10.91  11%Oil (per bbl)$64.98  $52.84  23% $60.74  $55.84  9%Gas equivalent (per mcfe) (b)$2.01  $1.97  2% $2.60  $2.22  17%                  Transportation, gathering and compression expense per mcfe$1.52  $1.52  0% $1.57  $1.53  3%                  (a) Represents volumes sold regardless of when produced.
(b) Oil and NGLs are converted at the rate of one barrel equals six mcfe based upon the approximate relative energy content of oil to natural gas, which is not necessarily indicative of the relationship of oil and natural gas prices.
(c) Excluding third-party transportation, gathering, processing and compression costs.
(d) Net of transportation, gathering, processing and compression costs.
 RANGE RESOURCES CORPORATION
  RECONCILIATION OF INCOME BEFORE INCOME
TAXES AS REPORTED TO INCOME BEFORE INCOME TAXES
EXCLUDING CERTAIN ITEMS, a non-GAAP measure
(Unaudited, In thousands, except per share data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  %  2026  2025  %                   Income from operations before income taxes, as reported$248,627  $302,042   -18% $681,788  $411,777   66%Adjustment for certain special items:                 Gain on the sale of assets (23)  (102)     (29)  (164)   ARO settlement gain -   (1)     -   (1)   Sale of seismic data (360)  -      (360)  -    Change in fair value related to derivatives prior to settlement (38,252)  (123,281)     (54,118)  40,249    Abandonment and impairment of unproved properties 4,561   6,781      8,458   11,355    Loss (gain) on early extinguishment of debt -   -      12,344   (3)   Lawsuit settlements and other 657   63      930   90    Exit costs 9,569   8,502      16,519   17,399    Direct operating - stock-based compensation 518   504      1,064   1,041    Brokered natural gas, NGLs and marketing - stock-based compensation 717   802      1,601   1,642    Exploration expenses - stock-based compensation 386   366      720   713    General & administrative - stock-based compensation 10,471   9,326      21,096   19,437    Deferred compensation plan - non-cash adjustment (1,756)  (88)     787   2,791                      Income before income taxes, as adjusted 235,115   204,914   15%  690,800   506,326   36%                  Income tax expense, as adjusted                 Current 2,629   4,645      8,430   6,645    Deferred (a) 46,745   42,485      136,638   109,810                      Net income, excluding certain items, a non-GAAP measure$185,741  $157,784   18% $545,732  $389,871   40%                  Non-GAAP income per common share                 Basic$0.79  $0.66   20% $2.32  $1.63   42%Diluted$0.79  $0.66   20% $2.31  $1.62   43%                  Non-GAAP diluted shares outstanding, if dilutive 236,210   239,717      236,348   240,772     (a) Taxes are estimated to be approximately 21% for 2026 and 23% for 2025
RANGE RESOURCES CORPORATION
  RECONCILIATION OF NET INCOME, EXCLUDING
CERTAIN ITEMS AND ADJUSTED EARNINGS PER
SHARE, non-GAAP measures
(In thousands, except per share data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025             Net income, as reported$195,323  $237,578  $536,953  $334,630 Adjustments for certain special items:           Gain on the sale of assets (23)  (102)  (29)  (164)ARO settlement gain -   (1)  -   (1)Sale of seismic data (360)  -   (360)  - Loss (gain) on early extinguishment of debt -   -   12,344   (3)Change in fair value related to derivatives prior to settlement (38,252)  (123,281)  (54,118)  40,249 Abandonment and impairment of unproved properties 4,561   6,781   8,458   11,355 Lawsuit settlements and other 657   63   930   90 Exit costs 9,569   8,502   16,519   17,399 Stock-based compensation 12,092   10,998   24,481   22,833 Deferred compensation plan (1,756)  (88)  787   2,791 Tax impact 3,930   17,334   (233)  (39,308)            Net income, excluding certain items, a non-GAAP measure$185,741  $157,784  $545,732  $389,871             Net income per diluted share, as reported$0.83  $0.99  $2.27  $1.39 Adjustments for certain special items per diluted share:           Gain on the sale of assets -   -   -   - ARO settlement gain -   -   -   - Sale of seismic data -   -   -   - Loss (gain) on early extinguishment of debt -   -   0.05   - Change in fair value related to derivatives prior to settlement (0.16)  (0.51)  (0.23)  0.17 Abandonment and impairment of unproved properties 0.02   0.03   0.04   0.05 Lawsuit settlements and other -   -   -   - Exit costs 0.04   0.04   0.07   0.07 Stock-based compensation 0.05   0.05   0.10   0.09 Deferred compensation plan (0.01)  -   -   0.01 Adjustment for rounding differences -   (0.01)  0.01   - Tax impact 0.02   0.07   -   (0.16)Dilutive share impact (rabbi trust and other) -   -   -   -             Net income per diluted share, excluding certain items, a non-GAAP measure$0.79  $0.66  $2.31  $1.62             Adjusted earnings per share, a non-GAAP measure:           Basic$0.79  $0.66  $2.32  $1.63 Diluted$0.79  $0.66  $2.31  $1.62  RANGE RESOURCES CORPORATION
  RECONCILIATION OF CASH MARGIN PER MCFE, a non-
GAAP measure
(Unaudited, In thousands, except per unit data)
 Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025             Revenues           Natural gas, NGLs and oil sales, as reported$702,087  $666,638  $1,712,339  $1,458,558 Derivative fair value income (loss), as reported 73,540   154,747   40,111   (4,210)Less non-cash fair value (gain) loss (38,252)  (123,281)  (54,118)  40,249 Brokered natural gas and marketing, as reported 57,496   33,009   114,725   87,417 Other income, as reported 448   1,881   566   5,064 Less gain on sale of assets (23)  (102)  (29)  (164)Less ARO settlement -   (1)  -   (1)Cash revenues and other income 795,296   732,891   1,813,594   1,586,913             Expenses           Direct operating, as reported 27,791   23,120   56,465   48,493 Less direct operating stock-based compensation (518)  (504)  (1,064)  (1,041)Transportation, gathering and compression, as reported 316,812   304,714   640,141   610,823 Taxes other than income, as reported 6,926   7,835   12,749   14,822 Brokered natural gas, NGLs and marketing, as reported 59,337   34,985   117,460   93,186 Less brokered natural gas, NGLs and marketing stock-based compensation (717)  (802)  (1,601)  (1,642)General and administrative, as reported 47,707   42,146   93,058   83,837 Less G&A stock-based compensation (10,471)  (9,326)  (21,096)  (19,437)Less lawsuit settlements and other (657)  (63)  (930)  (90)Interest expense, as reported 14,417   26,796   33,836   55,957 Less amortization of debt issuance costs (830)  (1,166)  (1,657)  (2,542)Cash expenses 459,797   427,735   927,361   882,366             Cash margin, a non-GAAP measure$335,499  $305,156  $886,233  $704,547             Mmcfe produced during period 208,972   199,956   407,642   397,981             Cash margin per mcfe$1.61  $1.53  $2.17  $1.77                         RECONCILIATION OF INCOME BEFORE INCOME TAXES           TO CASH MARGIN, a non-GAAP measure           (Unaudited, in thousands, except per unit data)            Three Months Ended June 30,  Six Months Ended June 30,  2026  2025  2026  2025             Income before income taxes, as reported$248,627  $302,042  $681,788  $411,777 Adjustments to reconcile income before income taxes           to cash margin:           ARO settlements -   (1)  -   (1)Derivative fair value (income) loss (73,540)  (154,747)  (40,111)  4,210 Net cash receipts (payments) on derivative settlements 35,288   31,466   (14,007)  36,039 Exploration expense 6,112   7,562   11,808   13,606 Lawsuit settlements and other 657   63   930   90 Exit costs 9,569   8,502   16,519   17,399 Deferred compensation plan (1,756)  (88)  787   2,791 Stock-based compensation (direct operating, brokered natural gas, NGLs and 12,092   10,998   24,481   22,833 marketing, exploration and general and administrative)           Bad debt expense -   -   -   - Interest - amortization of debt issuance costs 830   1,166   1,657   2,542 Depletion, depreciation and amortization 93,082   91,514   181,608   182,073 Gain on sale of assets (23)  (102)  (29)  (164)Loss (gain) on early extinguishment of debt -   -   12,344   (3)Abandonment and impairment of unproved properties 4,561   6,781   8,458   11,355 Cash margin, a non-GAAP measure$335,499  $305,156  $886,233  $704,547 

Investors in Range Resources Corporation (RRC - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 18, 2026 $30 Call had some of the highest implied volatility of all equity options today.

What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?Clearly, options traders are pricing in a big move for Range Resources shares, but what is the fundamental picture for the company? Currently, Range Resources is a Zacks Rank #4 (Sell) in the Oil and Gas - Exploration and Production - United States industry that ranks in the Bottom 22% of our Zacks Industry Rank. Over the last 30 days, no analysts have increased their earnings estimates for the current quarter, while three analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 58 cents per share to 56 cents in that period.

Given the way analysts feel about Range Resources right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

June 22, 2026 06:00 ET  | Source: Range Resources Corporation

FORT WORTH, Texas, June 22, 2026 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today published its 2025-2026 Corporate Sustainability Report. As global energy demand continues to grow, reliable energy sources like natural gas and natural gas liquids are essential. This report highlights the Company’s commitment to the sustainable development of its Appalachian natural gas and NGL resources.

“Our culture has been shaped by two defining strengths: our people and our assets. The combination of our large contiguous acreage position and experienced employees has created a unique culture where technical expertise, operational insight, and data come together to consistently move the business forward,” said Dennis Degner, the Company’s CEO. “It’s this foundation that enables both strong environmental and financial performance to support each other, creating long-term value for shareholders and trust in our communities.”

The full Corporate Sustainability Report is available at www.rangeresources.com/sustainability.

Corporate Sustainability Report Highlights:

Environmental Stewardship

Maintained Net Zero Scope 1 and 2 GHG emissions through direct emissions reductions and verified carbon offsets24% reduction in methane emissions intensity since 2023“A” grade MiQ certification for all productionRecycled ~100% of produced water generated from our operations for more than a decade Safety Leadership

0.16 Employee Days Away, Restricted, or Transferred (DART) Rate0.49 Employee Total Recordable Incident Rate (TRIR)Range employees completed more than 3,100 hours of safety training
Human Capital Management

Average employee tenure of ~10 yearsEmployees completed 15.51 hours of training on averageNamed one of the “Greatest Places to Intern in Pennsylvania”
Responsible Governance

Official Partner of World Engineering Day for Sustainable DevelopmentAwarded 2026 Pittsburgh Excellence in Ethics AwardMaintained an “AA” MSCI ESG RatingNamed to Newsweek’s list of America’s Most Responsible Companies for the fifth consecutive year Community Impact

Paid over $32 million in impact fees in 2025 and over $5 billion to date in royalty and lease payments and charitable contributions benefiting Pennsylvania communitiesAwarded grants to 539 local grassroots nonprofit organizations, investing $1.3 million into our communities, including over $250,000 to first responders through Range’s Good Neighbors FundRange employees volunteered a Company record 3,600+ hours in support of community organizations
About Range Resources’ 2025-2026 Sustainability Report

Range’s Sustainability Report incorporates feedback from key stakeholders and was developed in alignment with current best practice sustainability reporting standards and frameworks, which include guidelines and recommendations by the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), the IPIECA (formerly known as the International Petroleum Industry Environmental Conservation Association), the TCFD framework, and the American Exploration & Production Council (AXPC) ESG Metrics Framework.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

Included within this release are certain “forward-looking statements” within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are not limited to historical facts, but reflect Range’s current beliefs, expectations or intentions regarding future events. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “outlook”, “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements.

All statements, except for statements of historical fact, made herein regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future well costs, expected asset sales, well productivity, future emissions and carbon offsets, future liquidity and financial resilience, anticipated exports and related financial impact, natural gas and NGL market supply and demand, improving commodity fundamentals and pricing, future capital efficiencies, future shareholder value, emerging plays, capital spending, anticipated drilling and completion activity, acreage prospectivity, expected pipeline utilization and future guidance information, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and Range's future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements. Further information on risks and uncertainties is available in Range's filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K. Unless required by law, Range undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.

SOURCE: Range Resources Corporation

Range Investor Contact:

Laith Sando, SVP – Corporate Strategy & Investor Relations
817-869-4267
[email protected]

Range Media Contact:

Mark Windle, Director of Corporate Communications
724-873-3223
[email protected]

11.94K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Stock to Watch: Range Resources (RRC - Free Report) Based in Fort Worth, TX, Range Resources is an independent oil and gas company engaged in the exploration, development and acquisition of oil and natural gas properties, primarily in the Appalachian Basin with principal area of operations is the Marcellus Shale in Pennsylvania.

RRC is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 11.59; value investors should take notice.

Six analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.42 to $3.65 per share. RRC also boasts an average earnings surprise of +12.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, RRC should be on investors' short list.

FORT WORTH, Texas, April 21, 2026 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its first quarter 2026 financial results.

First Quarter 2026 Highlights –

Cash flow from operating activities of $619 millionCash flow from operations, before working capital changes, of $545 millionRepurchased $27 million of shares, paid $24 million in dividends, and reduced net debt by $384 millionCapital spending was $139 million, approximately 21% of the annual 2026 budgetRealized price, including hedges, was $4.84 per mcfeNatural gas differential, including basis hedging, of $0.18 per mcf premium to NYMEXPre-hedge NGL realizations of $26.62 per barrel, a premium of $4.41 over the Mont Belvieu equivalentProduction averaged 2.21 Bcfe per day, approximately 32% liquids Commenting on the results, Dennis Degner, the Company’s CEO said, “Range is off to a great start in 2026, showing steady progress executing the multi-year disciplined growth plan announced last year. First quarter 2026 results also highlighted the value of Range’s strategic marketing portfolio with access to premium markets in the U.S. and abroad as Range realized its highest natural gas premium in over a decade and a record quarterly NGL premium. The resulting strong free cash flow funded a growing dividend, continued share repurchases and the strongest balance sheet in Company history. We believe Range is increasingly well-positioned to serve growing local and global demand for U.S. natural gas and NGLs given our consistent operational results, low full-cycle cost structure, and high-return, long-life asset base.”

Financial Discussion

Except for generally accepted accounting principles (“GAAP”) reported amounts, specific expense categories exclude non-cash impairments, unrealized mark-to-market adjustment on derivatives, non-cash stock compensation and other items shown separately on the attached tables. “Unit costs” as used in this release are composed of direct operating, transportation, gathering, processing and compression, taxes other than income, general and administrative, interest and depletion, depreciation and amortization costs divided by production. See “Non-GAAP Financial Measures” for a definition of non-GAAP financial measures and the accompanying tables that reconcile each non-GAAP measure to its most directly comparable GAAP financial measure.

First Quarter 2026 Results

GAAP revenues and other income for first quarter 2026 totaled $1.03 billion, GAAP net cash provided from operating activities (including changes in working capital) was $619 million, and GAAP net income was $342 million ($1.44 per diluted share).  First quarter earnings results include a $33 million mark-to-market derivative loss due to increases in commodity prices.

Cash flow from operations before changes in working capital, a non-GAAP measure, was $545 million.  Adjusted net income comparable to analysts’ estimates, a non-GAAP measure, was $360 million ($1.52 per diluted share) in first quarter 2026.

The following table details Range’s first quarter 2026 unit costs per mcfe(a):

Expenses 1Q 2026
(per mcfe)
 1Q 2025
(per mcfe)
 Increase (Decrease)         Direct operating(a) $0.14  $0.13  8%Transportation, gathering, processing and compression(a)  1.63   1.55  5%Taxes other than income  0.03   0.04  (25)%General and administrative(a)  0.17   0.16  6%Interest expense(a)  0.09   0.14  (36)%Total cash unit costs(b)  2.07   2.01  3%Depletion, depreciation and amortization (DD&A)  0.45   0.46  (2)%Total unit costs plus DD&A(b) $2.51  $2.46  3%             (a)   Excludes stock-based compensation, one-time settlements, and amortization of deferred financing costs.
(b)   Totals may not be exact due to rounding.

The following table details Range’s average production and realized pricing for first quarter 2026(a):

 1Q26 Production & Realized Pricing
  Natural Gas
(mcf)
 Oil
(bbl)
 NGLs
(bbl)
 Natural Gas
Equivalent
(mcfe)
              Net production per day  1,508,842   8,239   108,193   2,207,436           Average NYMEX price $4.97  $73.98  $22.21   Differential, including basis hedging  0.18   (10.68)  4.41   Realized prices before NYMEX hedges  5.15   63.30   26.62   5.06 Settled NYMEX hedges  (0.31)  (4.89)  0.00   (0.23)Average realized prices after hedges $4.85  $58.41  $26.62  $4.84                   (a)   Totals may not add due to rounding

First quarter 2026 natural gas, NGLs and oil price realizations (including the impact of cash-settled hedges and derivative settlements) averaged $4.84 per mcfe.  

The average natural gas price, including the impact of basis hedging, was $5.15 per mcf, or a $0.18 per mcf premium differential to NYMEX. Range continues to expect its 2026 natural gas differential to average ($0.35) to ($0.45) relative to NYMEX.Range’s pre-hedge NGL price during the quarter was $26.62 per barrel, approximately $4.41 above the Mont Belvieu weighted equivalent. Range is improving its full-year NGL price guidance to a range of +$1.25 to +$2.50 relative to a Mont Belvieu equivalent barrel.Crude oil and condensate price realizations, before realized hedges, averaged $63.30 per barrel, or $10.68 below WTI (West Texas Intermediate). Range continues to expect its 2026 condensate differential to average ($10.00) to ($14.00) relative to NYMEX. Financial Position and Repurchase Activity

In January 2026, Range fully redeemed the $600 million principal balance of 8.25% senior notes due 2029 by borrowing on the Company’s bank credit facility. As of March 31, 2026, Range had net debt outstanding of approximately $834 million, consisting of $500 million of senior notes and $334 million on the credit facility.

During the quarter, Range repurchased 800,000 shares at an average price of approximately $33.91 per share. As of March 31, 2026, the Company had $1.5 billion of availability under the share repurchase program.

Capital Expenditures and Operational Activity

First quarter 2026 drilling and completion expenditures were $130 million. In addition, during the quarter, approximately $5 million was invested in acreage, and $4 million was invested in infrastructure, pneumatic upgrades, and other investments. First quarter capital spending represented approximately 21% of Range’s total capital budget in 2026.

During the quarter, Range drilled ~143,000 lateral feet across 9 wells, while turning to sales ~267,000 feet across 17 wells. The table below summarizes expected 2026 activity plans regarding the number of wells to sales in each area.

  Wells TIL
1Q 2026 Remaining
2026 Planned Wells
TIL in 2026Liquids Rich 17 33 50Dry Gas 0 18 18Total Appalachia 17 51 68        Guidance – 2026

Based on recent strip pricing, Range’s expected pre-hedge NGL price realization in 2026 has increased by approximately $4.75 per barrel relative to strip pricing in February. Higher realized NGL prices will result in slightly higher processing costs versus prior guidance, as Range’s processing costs are based on NGL revenue. Net of price-linked processing costs, the increase in forecasted NGL prices is expected to add approximately $160 million in cash flow for Range versus prior expectations, demonstrating margin expansion with rising NGL prices. Updated guidance for NGL pricing and GP&T expense can be found below.

Capital & Production Guidance

Range’s 2026 all-in capital budget is $650 million - $700 million. Annual production is expected to be approximately 2.35 - 2.40 Bcfe per day in 2026. Liquids are expected to be over 30% of production.

Updated Full Year 2026 Expense Guidance

 Updated Guidance Prior GuidanceDirect operating expense:$0.12 - $0.13 per mcfe $0.12 - $0.13 per mcfeTransportation, gathering, processing and compression expense (GP&T):$1.55 - $1.60 per mcfe $1.50 - $1.55 per mcfeTaxes other than income:$0.03 - $0.04 per mcfe $0.03 - $0.04 per mcfeExploration expense:$22 - $28 million $22 - $28 millionG&A expense:$0.17 - $0.18 per mcfe $0.17 - $0.18 per mcfeNet Interest expense:$0.07 - $0.09 per mcfe $0.07 - $0.09 per mcfeDD&A expense:$0.45 - $0.46 per mcfe $0.45 - $0.46 per mcfeNet brokered gas marketing expense:$8 - $12 million $8 - $12 million     Updated Full Year 2026 Price Guidance

Based on recent market indications, Range expects to average the following price differentials for its production in 2026.

 Updated Guidance Prior GuidanceFY 2026 Natural Gas:(1)NYMEX minus $0.35 to $0.45 NYMEX minus $0.35 to $0.45FY 2026 Natural Gas Liquids:(2)MB plus $1.25 to $2.50 per barrel MB plus $0.00 to $1.00 per barrelFY 2026 Oil/Condensate:WTI minus $10.00 to $14.00 WTI minus $10.00 to $14.00     (1) Including basis hedging
(2) Mont Belvieu-equivalent pricing based on weighting of 53% ethane, 27% propane, 8% normal butane, 4% iso-butane and 8% natural gasoline.

Hedging Status

Range hedges portions of its expected future production volumes to increase the predictability of cash flow and maintain a strong, flexible financial position. Please see the detailed hedging schedule posted on the Range website under Investor Relations - Financial Information.

Range has also hedged basis across the Company’s numerous natural gas sales points to limit volatility between benchmark and regional prices. The combined fair value of natural gas basis hedges as of March 31, 2026, was a net loss of $12.8 million.

Conference Call Information

A conference call to review the financial results is scheduled on Wednesday, April 22 at 8:00 AM Central Time (9:00 AM Eastern Time). Please click here to pre-register for the conference call and obtain a dial in number with passcode.

A simultaneous webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company's website until May 22nd.

Non-GAAP Financial Measures

To supplement the presentation of its financial results prepared in accordance with generally accepted accounting principles (GAAP), the Company’s earnings press release contains certain financial measures that are not presented in accordance with GAAP. Management believes certain non-GAAP measures may provide financial statement users with meaningful supplemental information for comparisons within the industry. These non-GAAP financial measures may include, but are not limited to Net Income, excluding certain items, Cash flow from operations before changes in working capital, realized prices, Net debt and Cash margin.

Adjusted net income comparable to analysts’ estimates as set forth in this release represents income or loss from operations before income taxes adjusted for certain non-cash items (detailed in the accompanying table) less income taxes. We believe adjusted net income comparable to analysts’ estimates is calculated on the same basis as analysts’ estimates and that many investors use this published research in making investment decisions and evaluating operational trends of the Company and its performance relative to other oil and gas producing companies. Diluted earnings per share (adjusted) as set forth in this release represents adjusted net income comparable to analysts’ estimates on a diluted per share basis. A table is included which reconciles income or loss from operations to adjusted net income comparable to analysts’ estimates and diluted earnings per share (adjusted). On its website, the Company provides additional comparative information on prior periods.

Cash flow from operations before changes in working capital represents net cash provided by operations before changes in working capital and exploration expense adjusted for certain non-cash compensation items. Cash flow from operations before changes in working capital (sometimes referred to as “adjusted cash flow”) is widely accepted by the investment community as a financial indicator of an oil and gas company’s ability to generate cash to internally fund exploration and development activities and to service debt. Cash flow from operations before changes in working capital is also useful because it is widely used by professional research analysts in valuing, comparing, rating and providing investment recommendations of companies in the oil and gas exploration and production industry. In turn, many investors use this published research in making investment decisions. Cash flow from operations before changes in working capital is not a measure of financial performance under GAAP and should not be considered as an alternative to cash flows from operations, investing, or financing activities as an indicator of cash flows, or as a measure of liquidity. A table is included which reconciles net cash provided by operations to cash flow from operations before changes in working capital as used in this release. On its website, the Company provides additional comparative information on prior periods for cash flow, cash margins and non-GAAP earnings as used in this release.

The cash prices realized for oil and natural gas production, including the amounts realized on cash-settled derivatives and net of transportation, gathering, processing and compression expense, is a critical component in the Company’s performance tracked by investors and professional research analysts in valuing, comparing, rating and providing investment recommendations and forecasts of companies in the oil and gas exploration and production industry. In turn, many investors use this published research in making investment decisions. Due to the GAAP disclosures of various derivative transactions and third-party transportation, gathering, processing and compression expense, such information is now reported in various lines of the income statement. The Company believes that it is important to furnish a table reflecting the details of the various components of each income statement line to better inform the reader of the details of each amount and provide a summary of the realized cash-settled amounts and third-party transportation, gathering, processing and compression expense, which were historically reported as natural gas, NGLs and oil sales. This information is intended to bridge the gap between various readers’ understanding and fully disclose the information needed.

Net debt is calculated as total debt less cash and cash equivalents. The Company believes this measure is helpful to investors and industry analysts who utilize Net debt for comparative purposes across the industry.

The Company discloses in this release the detailed components of many of the single line items shown in the GAAP financial statements included in the Company’s Annual or Quarterly Reports on Form 10-K or 10-Q. The Company believes that it is important to furnish this detail of the various components comprising each line of the Statements of Operations to better inform the reader of the details of each amount, the changes between periods and the effect on its financial results.

We believe that the presentation of PV10 value of our proved reserves is a relevant and useful metric for our investors as supplemental disclosure to the standardized measure, or after-tax amount, because it presents the discounted future net cash flows attributable to our proved reserves before taking into account future corporate income taxes and our current tax structure. While the standardized measure is dependent on the unique tax situation of each company, PV10 is based on prices and discount factors that are consistent for all companies. Because of this, PV10 can be used within the industry and by credit and security analysts to evaluate estimated net cash flows from proved reserves on a more comparable basis.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas.  More information about Range can be found at www.rangeresources.com.

Included within this release are certain “forward-looking statements” within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are not limited to historical facts, but reflect Range’s current beliefs, expectations or intentions regarding future events.  Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “outlook”, “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements.

All statements, except for statements of historical fact, made within regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future well costs, expected asset sales, well productivity, future liquidity and financial resilience, anticipated exports and related financial impact, NGL market supply and demand, future commodity fundamentals and pricing, future capital efficiencies, future shareholder value, emerging plays, capital spending, anticipated drilling and completion activity, acreage prospectivity, expected pipeline utilization and future guidance information, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and Range's future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements. Further information on risks and uncertainties is available in Range's filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K. Unless required by law, Range undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.

The SEC permits oil and gas companies, in filings made with the SEC, to disclose proved reserves, which are estimates that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions as well as the option to disclose probable and possible reserves. Range has elected not to disclose its probable and possible reserves in its filings with the SEC. Range uses certain broader terms such as "resource potential,” “unrisked resource potential,” "unproved resource potential" or "upside" or other descriptions of volumes of resources potentially recoverable through additional drilling or recovery techniques that may include probable and possible reserves as defined by the SEC's guidelines. Range has not attempted to distinguish probable and possible reserves from these broader classifications. The SEC’s rules prohibit us from including in filings with the SEC these broader classifications of reserves. These estimates are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of actually being realized. Unproved resource potential refers to Range's internal estimates of hydrocarbon quantities that may be potentially discovered through exploratory drilling or recovered with additional drilling or recovery techniques and have not been reviewed by independent engineers. Unproved resource potential does not constitute reserves within the meaning of the Society of Petroleum Engineer's Petroleum Resource Management System and does not include proved reserves. Area wide unproven resource potential has not been fully risked by Range's management. “EUR”, or estimated ultimate recovery, refers to our management’s estimates of hydrocarbon quantities that may be recovered from a well completed as a producer in the area. These quantities may not necessarily constitute or represent reserves within the meaning of the Society of Petroleum Engineer’s Petroleum Resource Management System or the SEC’s oil and natural gas disclosure rules. Actual quantities that may be recovered from Range's interests could differ substantially. Factors affecting ultimate recovery include the scope of Range's drilling program, which will be directly affected by the availability of capital, drilling and production costs, commodity prices, availability of drilling services and equipment, drilling results, lease expirations, transportation constraints, regulatory approvals, field spacing rules, recoveries of gas in place, length of horizontal laterals, actual drilling results, including geological and mechanical factors affecting recovery rates and other factors. Estimates of resource potential may change significantly as development of our resource plays provides additional data.

In addition, our production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price or drilling cost changes. Investors are urged to consider closely the disclosure in our most recent Annual Report on Form 10-K, available from our website at www.rangeresources.com or by written request to 100 Throckmorton Street, Suite 1200, Fort Worth, Texas 76102. You can also obtain this Form 10-K on the SEC’s website at www.sec.gov or by calling the SEC at 1-800-SEC-0330.

SOURCE: Range Resources Corporation

Range Investor Contacts:

Laith Sando
817-869-4267

Matt Schmid
817-869-1538

Range Media Contact:

Mark Windle
724-873-3223

 RANGE RESOURCES CORPORATION
                  STATEMENTS OF OPERATIONS        Based on GAAP reported earnings with additional        details of items included in each line in Form 10-Q        (Unaudited, In thousands, except per share data)         Three Months Ended March 31,  2026  2025  % Revenues and other income:        Natural gas, NGLs and oil sales (a)$1,010,252  $791,920    Derivative fair value loss (33,429)  (158,957)   Brokered natural gas and marketing 57,229   54,408    ARO settlement loss (b) -   -    Interest income (b) 55   3,053    Gain on sale of assets (b) 6   62    Other (b) 57   68    Total revenues and other income 1,034,170   690,554   50%         Costs and expenses:        Direct operating 28,128   24,836    Direct operating - stock-based compensation (c) 546   537    Transportation, gathering, processing and compression 323,329   306,109    Taxes other than income 5,823   6,987    Brokered natural gas and marketing 57,239   57,361    Brokered natural gas and marketing - stock-based compensation (c) 884   840    Exploration 5,696   6,044    Exploration - stock-based compensation (c) 334   347    Abandonment and impairment of unproved properties 3,897   4,574    General and administrative 34,453   31,553    General and administrative - stock-based compensation (c) 10,625   10,111    General and administrative - lawsuit settlements and other 273   27    Exit costs 6,950   8,897    Deferred compensation plan (d) 2,543   2,879    Interest expense 18,592   27,785    Interest expense - amortization of deferred financing costs (e) 827   1,376    Loss (gain) on early extinguishment of debt 12,344   (3)   Depletion, depreciation and amortization 88,526   90,559    Total costs and expenses 601,009   580,819   3%         Income before income taxes 433,161   109,735   295%         Income tax expense        Current 5,801   2,000    Deferred 85,730   10,683      91,531   12,683             Net income$341,630  $97,052   252%                  Net income Per Common Share        Basic$1.45  $0.40    Diluted$1.44  $0.40             Weighted average common shares outstanding, as reported        Basic 235,050   240,035   -2%Diluted 236,396   241,755   -2%                  (a) See separate natural gas, NGLs and oil sales information table.
(b) Included in Other income in the 10-Q.
(c) Costs associated with stock compensation and amortization, which have been reflected in the categories associated with the direct personnel costs, are combined with the cash costs in the 10-Q.
(d) Reflects the change in market value of the vested Company stock held in the deferred compensation plan.
(e) Included in interest expense in the 10-Q.
   RANGE RESOURCES CORPORATION
            BALANCE SHEET     (Unaudited, In thousands)March 31,  December 31,  2026  2025       Assets     Current assets$315,706  $390,835 Derivative assets 92,848   69,397 Natural gas, NGLs and oil properties, net (successful efforts method) 6,756,719   6,708,366 Other property and equipment, net 6,231   4,935 Operating lease right-of-use assets 158,585   173,477 Other 74,819   74,938  $7,404,908  $7,421,948       Liabilities and Stockholders' Equity     Current liabilities$667,336  $658,783 Asset retirement obligations 1,173   1,173 Derivative liabilities 10,148   1,196       Bank debt 323,294   106,700 Senior notes, excluding current maturities 495,960   1,091,634 Deferred tax liabilities 787,329   701,601 Derivative liabilities 997   2,363 Deferred compensation liabilities 69,461   68,635 Operating lease liabilities 100,482   115,515 Asset retirement obligations and other liabilities 155,870   153,081 Divestiture contract obligation 190,464   202,586   2,802,514   3,103,267       Common stock and retained deficit 5,375,592   5,064,743 Other comprehensive income 412   424 Common stock held in treasury (773,610)  (746,486)Total stockholders' equity 4,602,394   4,318,681  $7,404,908  $7,421,948                   RECONCILIATION OF TOTAL DEBT AS REPORTED        TO NET DEBT, a non-GAAP measure        (Unaudited, in thousands)         March 31,  December 31,     2026  2025  %          Total debt, net of deferred financing costs, as reported$819,254  $1,198,334   -32%Unamortized debt issuance costs, as reported 14,746   19,666    Less cash and cash equivalents, as reported (247)  (204)   Net debt, a non-GAAP measure$833,753  $1,217,796   -32%              RANGE RESOURCES CORPORATION
                  CASH FLOWS FROM OPERATING ACTIVITIES     (Unaudited, in thousands)            Three Months Ended March 31,  2026  2025       Net income$341,630  $97,052 Adjustments to reconcile net cash provided from continuing operations:     Deferred income tax expense 85,730   10,683 Depletion, depreciation and amortization 88,526   90,559 Abandonment and impairment of unproved properties 3,897   4,574 Derivative fair value loss 33,429   158,957 Cash settlements on derivative financial instruments (49,295)  4,573 Divestiture contract obligation, including accretion 6,950   8,897 Amortization of deferred financing costs and other 1,099   1,182 Deferred and stock-based compensation 15,331   15,083 Gain on sale of assets (6)  (62)Loss (gain) on early extinguishment of debt 12,344   (3)      Changes in working capital:     Accounts receivable 82,177   (28,722)Other current assets (6,192)  (9,028)Accounts payable 83,223   36,181 Accrued liabilities and other (79,707)  (59,843)Net changes in working capital 79,501   (61,412)Net cash provided from operating activities$619,136  $330,083                   RECONCILIATION OF NET CASH PROVIDED FROM OPERATING     ACTIVITIES, AS REPORTED, TO CASH FLOW FROM OPERATIONS     BEFORE CHANGES IN WORKING CAPITAL, a non-GAAP measure     (Unaudited, in thousands)      Three Months Ended March 31,  2026  2025 Net cash provided from operating activities, as reported$619,136  $330,083 Net changes in working capital (79,501)  61,412 Exploration expense 5,696   6,044 Lawsuit settlements and other 273   27 Non-cash compensation adjustment and other (671)  (175)Cash flow from operations before changes in working capital - non-GAAP measure$544,933  $397,391                   ADJUSTED WEIGHTED AVERAGE SHARES OUTSTANDING     (Unaudited, in thousands)      Three Months Ended March 31,  2026  2025 Basic:     Weighted average shares outstanding 235,316   240,776 Stock held by deferred compensation plan (266)  (741)Adjusted basic 235,050   240,035       Dilutive:     Weighted average shares outstanding 235,316   240,776 Dilutive stock options under treasury method 1,080   979 Adjusted dilutive 236,396   241,755           RANGE RESOURCES CORPORATION                  RECONCILIATION OF NATURAL GAS, NGLs AND OIL SALES        AND DERIVATIVE FAIR VALUE INCOME (LOSS) TO        CALCULATED CASH REALIZED NATURAL GAS, NGLs AND        OIL PRICES WITH AND WITHOUT THIRD-PARTY        TRANSPORTATION, GATHERING, PROCESSING AND        COMPRESSION COSTS, a non-GAAP measure        (Unaudited, In thousands, except per unit data)      Three Months Ended March 31,  2026  2025  % Natural gas, NGLs and Oil Sales components:        Natural gas sales$704,081  $490,377    NGLs sales 259,232   275,654    Oil sales 46,939   25,889    Total Natural Gas, NGLs and Oil Sales, as reported$1,010,252  $791,920   28%         Derivative Fair Value Loss, as reported$(33,429) $(158,957)   Cash settlements on derivative financial instruments - (gain) loss:        Natural gas 45,669   (4,729)   NGLs -   412    Oil 3,626   (256)   Total change in fair value related to commodity derivatives prior to settlement, a non-GAAP measure$15,866  $(163,530)            Transportation, gathering, processing and compression components:        Natural Gas$169,206  $157,519    NGLs 153,344   147,838    Oil 779   752    Total transportation, gathering, processing and compression, as reported$323,329  $306,109             Natural gas, NGL and Oil sales, including cash-settled derivatives: (c)        Natural gas sales$658,412  $495,106    NGLs sales 259,232   275,242    Oil Sales 43,313   26,145    Total$960,957  $796,493   21%         Production of natural gas, NGLs and oil during the periods (a):        Natural Gas (mcf) 135,795,771   135,963,430   0%NGLs (bbls) 9,737,382   9,919,989   -2%Oil (bbls) 741,524   423,579   75%Gas equivalent (mcfe) (b) 198,669,207   198,024,838   0%         Production of natural gas, NGLs and oil - average per day (a):        Natural Gas (mcf) 1,508,842   1,510,705   0%NGLs (bbls) 108,193   110,222   -2%Oil (bbls) 8,239   4,706   75%Gas equivalent (mcfe) (b) 2,207,436   2,200,276   0%         Average prices, excluding derivative settlements and before third-party transportation costs:        Natural Gas (per mcf)$5.18  $3.61   43%NGLs (per bbl)$26.62  $27.79   -4%Oil (per bbl)$63.30  $61.12   4%Gas equivalent (per mcfe) (b)$5.09  $4.00   27%         Average prices, including derivative settlements before third-party transportation costs: (c)        Natural Gas (per mcf)$4.85  $3.64   33%NGLs (per bbl)$26.62  $27.75   -4%Oil (per bbl)$58.41  $61.72   -5%Gas equivalent (per mcfe) (b)$4.84  $4.02   20%         Average prices, including derivative settlements and after third-party transportation costs: (d)        Natural Gas (per mcf)$3.60  $2.48   45%NGLs (per bbl)$10.87  $12.84   -15%Oil (per bbl)$57.36  $59.95   -4%Gas equivalent (per mcfe) (b)$3.21  $2.48   29%         Transportation, gathering and compression expense per mcfe$1.63  $1.55   5%         (a) Represents volumes sold regardless of when produced.(b) Oil and NGLs are converted at the rate of one barrel equals six mcfe based upon the approximate relative energy content of oil to natural gas, which is not necessarily indicative of the relationship of oil and natural gas prices.(c) Excluding third-party transportation, gathering, processing and compression costs.(d) Net of transportation, gathering, processing and compression costs.   RANGE RESOURCES CORPORATION                           RECONCILIATION OF INCOME BEFORE INCOME        TAXES AS REPORTED TO INCOME BEFORE INCOME TAXES        EXCLUDING CERTAIN ITEMS, a non-GAAP measure        (Unaudited, In thousands, except per share data)         Three Months Ended March 31,  2026  2025  %          Income from operations before income taxes, as reported$433,161  $109,735   295%Adjustment for certain special items:        Gain on the sale of assets (6)  (62)   ARO settlement loss -   -    Change in fair value related to derivatives prior to settlement (15,866)  163,530    Abandonment and impairment of unproved properties 3,897   4,574    Loss (gain) on early extinguishment of debt 12,344   (3)   Lawsuit settlements and other 273   27    Exit costs 6,950   8,897    Direct operating - stock-based compensation 546   537    Brokered natural gas and marketing - stock-based compensation 884   840    Exploration expenses - stock-based compensation 334   347    General & administrative - stock-based compensation 10,625   10,111    Deferred compensation plan - non-cash adjustment 2,543   2,879             Income before income taxes, as adjusted 455,685   301,412   51%         Income tax expense, as adjusted        Current 5,801   2,000    Deferred (a) 89,893   67,325             Net income, excluding certain items, a non-GAAP measure$359,991  $232,087   55%         Non-GAAP income per common share        Basic$1.53  $0.97   58%Diluted$1.52  $0.96   58%         Non-GAAP diluted shares outstanding, if dilutive 236,396   241,755                      (a) Taxes are estimated to be approximately 21% for 2026 and 23% for 2025   RANGE RESOURCES CORPORATION
                  RECONCILIATION OF NET INCOME, EXCLUDING     CERTAIN ITEMS AND ADJUSTED EARNINGS PER     SHARE, non-GAAP measures     (In thousands, except per share data)      Three Months Ended March 31,  2026  2025       Net income, as reported$341,630  $97,052 Adjustments for certain special items:     Gain on the sale of assets (6)  (62)ARO settlement loss -   - Loss (gain) on early extinguishment of debt 12,344   (3)Change in fair value related to derivatives prior to settlement (15,866)  163,530 Abandonment and impairment of unproved properties 3,897   4,574 Lawsuit settlements and other 273   27 Exit costs 6,950   8,897 Stock-based compensation 12,389   11,835 Deferred compensation plan 2,543   2,879 Tax impact (4,163)  (56,642)      Net income, excluding certain items, a non-GAAP measure$359,991  $232,087       Net income per diluted share, as reported$1.44  $0.40 Adjustments for certain special items per diluted share:     Gain on the sale of assets -   - ARO settlement loss -   - Loss (gain) on early extinguishment of debt 0.05   - Change in fair value related to derivatives prior to settlement (0.07)  0.68 Abandonment and impairment of unproved properties 0.02   0.02 Lawsuit settlements and other -   - Exit costs 0.03   0.04 Stock-based compensation 0.05   0.05 Deferred compensation plan 0.01   0.01 Adjustment for rounding differences 0.01   (0.01)Tax impact (0.02)  (0.23)Dilutive share impact (rabbi trust and other) -   -       Net income per diluted share, excluding certain items, a non-GAAP measure$1.52  $0.96       Adjusted earnings per share, a non-GAAP measure:     Basic$1.53  $0.97 Diluted$1.52  $0.96           RANGE RESOURCES CORPORATION
            RECONCILIATION OF CASH MARGIN PER MCFE, a non-     GAAP measure     (Unaudited, In thousands, except per unit data)      Three Months Ended March 31,  2026  2025       Revenues     Natural gas, NGLs and oil sales, as reported$1,010,252  $791,920 Derivative fair value loss, as reported (33,429)  (158,957)Less non-cash fair value (gain) loss (15,866)  163,530 Brokered natural gas and marketing, as reported 57,229   54,408 Other income, as reported 118   3,183 Less gain on sale of assets (6)  (62)Less ARO settlement -   - Cash revenues and other income 1,018,298   854,022       Expenses     Direct operating, as reported 28,674   25,373 Less direct operating stock-based compensation (546)  (537)Transportation, gathering and compression, as reported 323,329   306,109 Taxes other than income, as reported 5,823   6,987 Brokered natural gas and marketing, as reported 58,123   58,201 Less brokered natural gas and marketing stock-based compensation (884)  (840)General and administrative, as reported 45,351   41,691 Less G&A stock-based compensation (10,625)  (10,111)Less lawsuit settlements and other (273)  (27)Interest expense, as reported 19,419   29,161 Less amortization of deferred financing costs (827)  (1,376)Cash expenses 467,564   454,631       Cash margin, a non-GAAP measure$550,734  $399,391       Mmcfe produced during period 198,669   198,025       Cash margin per mcfe$2.77  $2.02       RECONCILIATION OF INCOME BEFORE INCOME TAXES     TO CASH MARGIN, a non-GAAP measure     (Unaudited, in thousands, except per unit data)      Three Months Ended March 31,  2026  2025       Income before income taxes, as reported$433,161  $109,735 Adjustments to reconcile income before income taxes to cash margin:     ARO settlements -   - Derivative fair value loss 33,429   158,957 Net cash (payments) receipts on derivative settlements (49,295)  4,573 Exploration expense 5,696   6,044 Lawsuit settlements and other 273   27 Exit costs 6,950   8,897 Deferred compensation plan 2,543   2,879 Stock-based compensation (direct operating, brokered natural gas and marketing, exploration and general and administrative) 12,389   11,835 Bad debt expense -   - Interest - amortization of deferred financing costs 827   1,376 Depletion, depreciation and amortization 88,526   90,559 Gain on sale of assets (6)  (62)Loss (gain) on early extinguishment of debt 12,344   (3)Abandonment and impairment of unproved properties 3,897   4,574 Cash margin, a non-GAAP measure$550,734  $399,391         

Key Takeaways Range Resources reported Q1 2026 EPS of $1.52, beating estimates and increasing from 96 cents a year ago.RRC posted realized prices of $5.09 per Mcfe, up 27%, with natural gas prices rising 43% year over year. Range Resources revenues top $1.02B, driven by natural gas prices and production growth. Range Resources Corporation (RRC - Free Report) reported first-quarter 2026 adjusted earnings of $1.52 per share, which beat the Zacks Consensus Estimate of $1.33. The bottom line also improved from the prior-year level of 96 cents. 

Total quarterly revenues of $1,018.3 million topped the Zacks Consensus Estimate of $919.3 million. The top line increased from the prior-year figure of $854 million.

Strong quarterly results can be attributed to higher gas-equivalent production and increased natural gas price realization.

Operational Performance of RRCProduction averaged 2,207.4 million cubic feet equivalent per day (MMcfe/d), higher than the year-ago quarter’s 2,200.3 MMcfe/d. The figure came in lower than our projection of 2,233.7 MMcfe/d. Natural gas contributed 68% to the company’s total production, while NGLs and oil accounted for the rest. 

Natural gas production remained flat year over year. Oil production increased 75%, while NGL output declined 2% over the same time frame.

Total price realization (excluding derivative settlements and before third-party transportation costs) averaged $5.09 per Mcfe, up 27% year over year. Price realization exceeded our estimate of $4.48 per Mcfe. Natural gas price increased 43% on a year-over-year basis to $5.18 per Mcf. NGL price declined 4%, while oil price rose 4%.

RRC’s Costs & ExpensesTotal costs and expenses increased 3% year over year to $601 million. The reported figure topped our projection of $571.3 million. Transportation, gathering, processing and compression costs, which constitute a significant part of the total costs, increased to $323.3 million from $306.1 million in the prior-year quarter.

RRC’s Capital Expenditure & Balance SheetDrilling and completion expenditure totaled $130 million. An additional $5 million was spent on acreage and $4 million on infrastructure and other investments.

At the end of the first quarter, Range Resources reported a total debt of $819.3 million, net of deferred financing costs.

Outlook of Range ResourcesRRC expects the total production for 2026 to be in the range of 2.35-2.40 billion cubic feet equivalent per day (Bcfe/d), of which more than 30% is expected to come from liquid production. The company updated its capital budget for the year to be in the range of $650-$700 million.

RRC’s Zacks Rank & Stocks to ConsiderCurrently, Range Resources carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the energy sector are Chevron Corporation (CVX - Free Report) , BP p.l.c. (BP - Free Report) and Antero Resources Corporation (AR - Free Report) . CVX and BP each sport a Zacks Rank #1 (Strong Buy), while AR has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks Rank #1 stocks here.

Chevron is a leading integrated energy giant involved in all aspects of the oil and gas industry, including exploration, production, refining and marketing. As one of the world's largest integrated energy firms, it operates globally with assets in North America, Kazakhstan, Australia, Nigeria and many other countries.

In the United States, CVX maintains a significant presence in the Permian Basin, with more than 1.75 million net acres in the Delaware and Midland sub-basins. With a sustained demand for oil and gas in the future, Chevron is positioning itself as a key provider by expanding its oil and gas supply to fulfill the increased global energy needs. CVX is set to release first-quarter 2026 earnings on May 1, 2026.

BP is an energy giant that operates globally in oil and gas exploration, extraction, refining and marketing. BP generates a significant portion of revenues from its upstream operations. Alongside its core hydrocarbon business, BP is also focusing on lower-carbon energy, including biofuels, electric vehicle charging, hydrogen and renewable power. BP is set to release first-quarter 2026 earnings on April 28, 2026.

Headquartered in Denver, CO, Antero Resources is an independent energy company focused on producing natural gas and natural gas liquids (NGLs) in the Appalachian Basin. AR utilizes horizontal drilling and hydraulic fracturing to develop its extensive 537,000 acreage in the Appalachian Basin, primarily in West Virginia and Ohio. Strong natural gas demand driven by liquified natural gas exports and power consumption is expected to benefit AR as it stands as a major U.S. natural gas producer. AR is set to release first-quarter 2026 earnings on April 29, 2026.

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For the quarter ended March 2026, Range Resources (RRC - Free Report) reported revenue of $1.02 billion, up 19.2% over the same period last year. EPS came in at $1.52, compared to $0.96 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $919.26 million, representing a surprise of +10.77%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $1.33.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Range Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Net production per day - Natural Gas: 1,508.84 Mcf/D compared to the 1,553.79 Mcf/D average estimate based on six analysts.Net production per day - Oil: 8,239.00 BBL/D versus 5,661.48 BBL/D estimated by six analysts on average.Net production per day - Natural Gas Equivalent: 2,207.44 Mcfe/D versus the five-analyst average estimate of 2,251.98 Mcfe/D.Net production per day - NGLs: 108.19 millions of barrels of oil per day versus 110.06 millions of barrels of oil per day estimated by five analysts on average.Average realized prices after hedges - Natural Gas: $4.85 versus $4.56 estimated by five analysts on average.Average realized prices after hedges - NGLs: $26.62 versus $24.49 estimated by four analysts on average.Average realized prices after hedges - Oil: $58.41 versus the four-analyst average estimate of $60.46.Average prices, excluding derivative settlements and before third-party - Natural Gas: $5.18 versus the three-analyst average estimate of $4.82.Average prices, excluding derivative settlements and before third-party - NGLs: $26.62 versus $24.88 estimated by three analysts on average.Revenues and other income- Natural gas, NGLs and oil sales: $1.01 billion compared to the $929.98 million average estimate based on three analysts. The reported number represents a change of +27.6% year over year.Revenues and other income- Brokered natural gas, marketing and other: $57.23 million versus the three-analyst average estimate of $51.66 million. The reported number represents a year-over-year change of +5.2%.Revenues and other income- Natural gas, NGLs and Oil Sales components- Natural gas sales: $704.08 million compared to the $655.7 million average estimate based on two analysts. The reported number represents a change of +43.6% year over year.View all Key Company Metrics for Range Resources here>>>

Shares of Range Resources have returned -9.3% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Published in earnings earnings-estimates-revisions earnings-surprise

Posted by Defense World Staff on Apr 24th, 2026

Evergreen Capital Management LLC raised its stake in Range Resources Corporation (NYSE:RRC – Free Report) by 166.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,775 shares of the oil and gas exploration company’s stock after buying an additional 17,343 shares during the quarter. Evergreen Capital Management LLC’s holdings in Range Resources were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. PFG Advisors lifted its stake in Range Resources by 23.2% in the fourth quarter. PFG Advisors now owns 6,545 shares of the oil and gas exploration company’s stock valued at $231,000 after buying an additional 1,231 shares during the period. Journey Advisory Group LLC lifted its stake in Range Resources by 15.6% in the fourth quarter. Journey Advisory Group LLC now owns 112,491 shares of the oil and gas exploration company’s stock valued at $3,966,000 after buying an additional 15,197 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Range Resources by 4.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,990 shares of the oil and gas exploration company’s stock valued at $2,679,000 after buying an additional 2,978 shares during the period. GF Fund Management CO. LTD. lifted its stake in Range Resources by 7.1% in the fourth quarter. GF Fund Management CO. LTD. now owns 69,406 shares of the oil and gas exploration company’s stock valued at $2,447,000 after buying an additional 4,583 shares during the period. Finally, Moran Wealth Management LLC raised its position in shares of Range Resources by 68.0% during the fourth quarter. Moran Wealth Management LLC now owns 53,476 shares of the oil and gas exploration company’s stock worth $1,886,000 after purchasing an additional 21,639 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Down 1.4% NYSE:RRC opened at $42.63 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 0.55. The company has a market cap of $10.05 billion, a PE ratio of 11.28, a PEG ratio of 0.79 and a beta of 0.51. Range Resources Corporation has a 52-week low of $32.60 and a 52-week high of $48.31. The stock has a 50-day simple moving average of $42.22 and a 200 day simple moving average of $38.54.

Range Resources (NYSE:RRC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.Range Resources’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. On average, sell-side analysts expect that Range Resources Corporation will post 3.65 EPS for the current fiscal year.

Range Resources Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, March 13th. This is a boost from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s dividend payout ratio is 10.58%.

Key Headlines Impacting Range Resources Here are the key news stories impacting Range Resources this week:

Positive Sentiment: Q1 2026 earnings beat — Range posted stronger-than-expected revenue and EPS driven by higher production and improved natural‑gas price realizations; revenue topped $1B and margins expanded, supporting near‑term cash generation. RRC Q1 Earnings Surpass Estimates on Higher Price Realizations Positive Sentiment: Earnings call highlighted record margins and strong cash flow — Management emphasized high operating margins, robust free cash flow and capital discipline, which support shareholder returns and a favorable payout/capital allocation outlook. Range Resources Corp (RRC) Q1 2026 Earnings Call Highlights: Record Cash Flow and Strategic … Positive Sentiment: Operational efficiency and export tailwinds — Company reports and analyst writeups point to better well performance, cost control and growing LNG/export demand that boosted realizations and helped drive outperformance vs. peers. RRC Q1 Deep Dive: Operational Efficiency and Export Tailwinds Drive Outperformance Positive Sentiment: Bank of America raised its price target to $44 — A notable sell‑side upgrade that signals improving analyst sentiment and provides support for the stock’s valuation. Bank of America Raises Range Resources (NYSE:RRC) Price Target to $44.00 Positive Sentiment: Technicals: rising relative price strength — Market screens note RRC among stocks gaining relative momentum, which can attract trend‑following flows. Stocks with rising relative price strength: Range Resources Neutral Sentiment: Company maintains a measured 2026 production-growth plan — Management is prioritizing capital discipline over aggressive volume growth, which reduces execution risk but may limit near‑term production upside. Range Resources sticking to measured 2026 growth plan Neutral Sentiment: Analyst/metrics digests and transcript available — Multiple outlets parsed the call and granular metrics (costs, volumes, realized prices); the transcript and analyst notes offer detail for model updates. Range Resources Corporation (RRC) Q1 2026 Earnings Call Transcript Compared to Estimates, Range Resources (RRC) Q1 Earnings: A Look at Key Metrics Neutral Sentiment: Broader analyst commentary — Coverage pieces note RRC’s strengths vs. peers but also highlight sensitivity to natural gas prices and macro demand for LNG exports. Analysts Offer Insights on Energy Companies: Exxon Mobil (XOM) and Range Resources (RRC) Wall Street Analyst Weigh In RRC has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Weiss Ratings raised Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. TD Cowen raised their price target on Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Stephens dropped their price target on Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Truist Financial dropped their price target on Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Four analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average price target of $43.41.

Get Our Latest Stock Analysis on RRC

Insider Activity In related news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares in the company, valued at approximately $1,272,859.20. This trade represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

About Range Resources (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.

Read More Five stocks we like better than Range Resources Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corporation (NYSE:RRC – Free Report).

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Range Resources (RRC - Free Report) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

Therefore, the Zacks rating upgrade for Range Resources basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For Range Resources, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Range ResourcesFor the fiscal year ending December 2026, this independent oil and gas company is expected to earn $4.11 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Range Resources. Over the past three months, the Zacks Consensus Estimate for the company has increased 27.1%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Range Resources to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

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The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

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Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

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The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

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Stock to Watch: Range Resources (RRC - Free Report) Based in Fort Worth, TX, Range Resources is an independent oil and gas company engaged in the exploration, development and acquisition of oil and natural gas properties, primarily in the Appalachian Basin with principal area of operations is the Marcellus Shale in Pennsylvania.

RRC is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. RRC has a Growth Style Score of B, forecasting year-over-year earnings growth of 25.7% for the current fiscal year.

For fiscal 2026, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.48 to $3.77 per share. RRC boasts an average earnings surprise of +14.3%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, RRC should be on investors' short list.

May 29, 2026 06:30 ET  | Source: Range Resources Corporation

FORT WORTH, Texas, May 29, 2026 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that its Board of Directors declared a quarterly cash dividend on its common stock for the second quarter. A dividend of $0.10 per common share is payable on June 26, 2026 to stockholders of record at the close of business on June 12, 2026.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

SOURCE: Range Resources Corporation