Here is why Range Resources Corporation (RRC) stock plummeted in the after-hours on Monday?

Range Resources Corporation (RRC) shares lost 6.50% in after-hours on Monday, July 26, 2021, and close the daily trading at $14.95. in the regular trading session on Monday, RRC’s stock gained 4.51%. RRC shares have risen 137.59% over the last 12 months, and they have moved up 10.96% in the past week. Over the past three months, the stock has gained 71.02%, while over the past six months, it has shed 78.26%.

Let’s have a look at its recent news and developments.

Discover Tomorrow's Stocks Today!

When it comes to discovering hidden gems within the stock market, Stock Wire News has consistently provided invaluable insights. Stock Wire News invites you to explore their upcoming Wealth Building Report. This report will shine a spotlight on little-known companies with the potential for substantial growth in 2024, and it's completely FREE for a limited time.

Claim the free report now by clicking here and start discovering the hidden gems of the market
Sponsored

RRC Recent financial results announcement

On July 26, 2021, RANGE RESOURCES CORPORATION (RRC) announced its second-quarter 2021 financial results.

Q2 2021 financial highlights

  • Range Resources Corporation reported a GAAP revenue of 435 million in Q2 2021 compared to $376.5 million in Q2 2020.
  • Total cost and expenses were $ 592.5 million compared to $566.4 million in Q2 2020.
  • The net cash provided from operating activities was $174 million in Q2 2021 compared to $78.76 million in Q2 2020.
  • RRC suffered a net loss of $156 million or $0.65 per diluted share in Q2 2021, compared to $167.6 million or $0.70 per diluted share in Q2 2020.
  • Range had total debt outstanding of $3.1 billion, consisting of $121 million in bank debt and $2.95 billion in senior notes on June 30, 2021.

FY 2021 Guidance

Range’s 2021 all-in capital budget is $425 million. Production for full-year 2021 is expected to average approximately 2.15 Bcfe per day, with 30% attributed to liquids production.

 RRC new ESG & safety committee

On June 15, 2021, RANGE RESOURCES CORPORATION today announced the formation of a new Environmental Social Governance (ESG) and Safety Committee by the Board of Directors. The Range also committed to a pilot project with Project Canary to certify the production of responsibly sourced natural gas (RSG) following a review of the Company’s operations under Project Canary’s TrustWell™ Certification program.

RRC Q1 2021 financial results announcement

On April 26, 2021, RANGE RESOURCES CORPORATION announced its first-quarter 2021 financial results.

Q1 2021 financial highlights

  • RRC GAAP net revenue was $626 million in Q1 2021 compared to $694 million in Q1 2020.
  • Total cost and expenses were $596 million in Q1 2021 compared to $499 million in Q1 2020.
  • In Q1 2021, GAAP net income was $27 million or $0.11 per diluted share compared to $166.2 million or $0.67 per diluted share inQ1 2020.

Conclusion

The recent financial results announcement was not very attractive for the investors. Though it matched with the analysts earning estimates but resulted in a decline in RRC share price on Monday. It may start the Tuesday trading in negative mode as well.

Most Popular

Related posts