Financials Range Resources Corporation

Equities

RRC

US75281A1097

Oil & Gas Exploration and Production

Real-time Estimate Cboe BZX Other stock markets 02:49:57 2024-05-20 pm EDT			5-day change	1st Jan Change
38.9 ^USD	+2.96%		+9.61%	+27.79%

May. 13	Mizuho Adjusts Price Target on Range Resources to $45 From $41, Maintains Buy Rating	MT
May. 08	Transcript : Range Resources Corporation - Shareholder/Analyst Call

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,216	1,639	4,434	6,031	7,342	9,163	-	-
Enterprise Value (EV) ¹	4,388	4,724	7,146	7,872	8,905	10,433	10,111	9,985
P/E ratio	-0.7 x	-2.27 x	11.1 x	5.33 x	8.53 x	18.1 x	12 x	10.7 x
Yield	1.65%	-	-	0.64%	1.05%	0.85%	0.9%	0.94%
Capitalization / Revenue	0.43 x	0.83 x	1.51 x	1.45 x	2.18 x	3.3 x	2.92 x	2.86 x
EV / Revenue	1.55 x	2.4 x	2.44 x	1.9 x	2.64 x	3.76 x	3.22 x	3.11 x
EV / EBITDA	4.78 x	8.03 x	5.51 x	3.51 x	7.15 x	8.61 x	6.37 x	6.16 x
EV / FCF	-225 x	-28.4 x	19.1 x	5.09 x	24 x	22.5 x	12.7 x	12.5 x
FCF Yield	-0.44%	-3.53%	5.24%	19.6%	4.17%	4.45%	7.89%	8.03%
Price to Book	0.52 x	0.99 x	2.14 x	2.08 x	1.76 x	2.16 x	1.88 x	1.62 x
Nbr of stocks (in thousands)	250,719	244,628	248,692	241,035	241,205	242,527	-	-
Reference price ²	4.850	6.700	17.83	25.02	30.44	37.78	37.78	37.78
Announcement Date	2/27/20	2/23/21	2/22/22	2/27/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,828	1,969	2,930	4,147	3,374	2,775	3,138	3,206
EBITDA ¹	917.6	588.3	1,296	2,242	1,246	1,212	1,587	1,621
EBIT ¹	-2,022	-544.7	629.4	1,579	1,224	766.7	1,125	1,187
Operating Margin	-71.52%	-27.67%	21.48%	38.08%	36.28%	27.63%	35.87%	37.03%
Earnings before Tax (EBT) ¹	-2,217	-737.3	402	1,414	1,100	599.1	1,005	1,156
Net income ¹	-1,716	-711.8	411.8	1,183	871.1	482.5	746.9	852.9
Net margin	-60.7%	-36.15%	14.05%	28.54%	25.82%	17.39%	23.8%	26.6%
EPS ²	-6.920	-2.950	1.610	4.690	3.570	2.082	3.147	3.539
Free Cash Flow ¹	-19.5	-166.6	374.3	1,546	371	464.1	798.1	801.3
FCF margin	-0.69%	-8.46%	12.77%	37.28%	10.99%	16.73%	25.44%	24.99%
FCF Conversion (EBITDA)	-	-	28.88%	68.94%	29.77%	38.28%	50.29%	49.44%
FCF Conversion (Net income)	-	-	90.89%	130.64%	42.58%	96.19%	106.86%	93.94%
Dividend per Share ²	0.0800	-	-	0.1600	0.3200	0.3200	0.3400	0.3550
Announcement Date	2/27/20	2/23/21	2/22/22	2/27/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	1,567	180.7	1,225	1,111	1,630	1,186	637	609.7	941.4	645.4	657	679.2	747.3	804.4	745
EBITDA ¹	478.6	538.8	567.4	593.9	542.3	433.1	216.5	268	327.2	338.6	267.7	278.6	338.8	432.7	357
EBIT ¹	966.2	-525.7	598.2	471.4	1,035	635.5	76.06	95.73	417	140.8	162.2	174.3	228.3	332.9	250.4
Operating Margin	61.67%	-290.87%	48.83%	42.45%	63.49%	53.57%	11.94%	15.7%	44.3%	21.81%	24.69%	25.66%	30.55%	41.38%	33.61%
Earnings before Tax (EBT) ¹	909.9	-572.9	556.2	432.7	997.8	603.3	44.94	65.13	386.9	110.3	133.1	146.4	208.2	280.6	196.3
Net income ¹	891.4	-456.8	452.9	373.1	814.2	481.4	30.23	49.43	310	92.14	103.7	115.1	162.3	222.8	159
Net margin	56.89%	-252.75%	36.96%	33.59%	49.94%	40.58%	4.75%	8.11%	32.93%	14.28%	15.79%	16.94%	21.72%	27.7%	21.34%
EPS ²	3.470	-1.860	1.770	1.490	3.310	1.950	0.1200	0.2000	1.270	0.3800	0.4412	0.4980	0.6762	0.8958	0.6314
Dividend per Share ²	-	-	0.0800	0.0800	0.0800	0.0800	0.0800	0.0800	0.0800	-	0.0800	0.0800	0.0800	0.0800	0.0800
Announcement Date	2/22/22	4/26/22	7/25/22	10/24/22	2/27/23	4/24/23	7/24/23	10/24/23	2/21/24	4/23/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,172	3,085	2,711	1,842	1,562	1,271	948	822
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.457 x	5.244 x	2.092 x	0.8214 x	1.254 x	1.048 x	0.5974 x	0.5071 x
Free Cash Flow ¹	-19.5	-167	374	1,546	371	464	798	801
ROE (net income / shareholders' equity)	3.07%	-1.11%	27%	47.7%	17.3%	14.3%	18.5%	14.7%
ROA (Net income/ Total Assets)	1.21%	-0.35%	7.87%	17.8%	12.6%	7.07%	8.2%	6.8%
Assets ¹	-142,349	205,900	5,233	6,643	6,915	6,820	9,107	12,543
Book Value Per Share ²	9.400	6.780	8.350	12.00	17.30	17.50	20.10	23.30
Cash Flow per Share ²	2.940	1.340	4.150	8.260	4.590	4.520	5.700	6.530
Capex ¹	748	435	419	488	607	636	645	676
Capex / Sales	26.47%	22.11%	14.29%	11.77%	17.99%	22.91%	20.56%	21.08%
Announcement Date	2/27/20	2/23/21	2/22/22	2/27/23	2/21/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Range Resources Corporation

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

37.78 USD

Average target price

37.83 USD

Spread / Average Target

+0.14%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Oil & Gas Exploration and Production

	1st Jan change	Capi.
RANGE RESOURCES CORPORATION	+24.11%	9.16B
CHEVRON CORPORATION	+9.06%	300B
CONOCOPHILLIPS	+4.86%	142B
CNOOC LIMITED	+51.23%	122B
CANADIAN NATURAL RESOURCES LIMITED	+20.84%	82.35B
EOG RESOURCES, INC.	+7.43%	74.68B
OCCIDENTAL PETROLEUM CORPORATION	+6.20%	56.22B
HESS CORPORATION	+9.68%	48.55B
DIAMONDBACK ENERGY, INC.	+27.46%	35.25B
WOODSIDE ENERGY GROUP LTD	-9.59%	34.92B

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