Should Appalachian Natural Gas Producers' Stock Price Resiliency Be Surprising? [Forbes]
Range Resources Corporation (RRC)
Last range resources corporation earnings: 4/30 05:30 pm
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Source: Forbes
publicly traded Appalachian gas producers have remained remarkably stable. In fact, Antero Resources' price is up this year and Range Resources is basically flat for the year so far. Others such as EQT and Coterra Energy are down only marginally. This could come across as surprising. Appalachia has some disadvantages to other US gas producing basins, such as takeaway capacity, logistics, and longer distances to major LNG production facilities. However, since 2022 the stock market has held steady for these companies; of which this confidence has outlasted commodity price and earnings declines over the past two years. Higher Valuation Multiples One of the indicators of this buoyed optimism for Appalachian upstream producers are the cash flow or EBITDA multiples that they are trading at. As a group, they were averaging above a seven (7x) multiple. In the past several years, they have more often traded closer to three (3x) times. Take for example, Mercer Capital's second quarter data
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News
- Why Is Range Resources (RRC) Up 13.6% Since Last Earnings Report? [Yahoo! Finance]Yahoo! Finance
- Natural Gas Gains for the Week But Remains Well Supplied [Yahoo! Finance]Yahoo! Finance
- Range Resources Co. (NYSE: RRC) had its price target lowered by analysts at Piper Sandler from $31.00 to $30.00. They now have a "neutral" rating on the stock.MarketBeat
- Range Resources Co. (NYSE: RRC) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
- Do You Believe in the Growth Prospects of Range Resources (RRC)? [Yahoo! Finance]Yahoo! Finance
RRC
Earnings
- 10/22/24 - Beat
RRC
Sec Filings
- 11/14/24 - Form SC
- 11/14/24 - Form SC
- 11/12/24 - Form 4
- RRC's page on the SEC website