Advertisement
Canada markets open in 3 hours 38 minutes

  • S&P/TSX

    22,011.72
    +139.76 (+0.64%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • CAD/USD

    0.7310
    -0.0011 (-0.15%)
     

  • CRUDE OIL

    83.01
    -0.35 (-0.42%)
     

  • Bitcoin CAD

    90,762.59
    +271.16 (+0.30%)
     

  • CMC Crypto 200

    1,432.89
    +8.79 (+0.62%)
     

  • GOLD FUTURES

    2,326.20
    -15.90 (-0.68%)
     

  • RUSSELL 2000

    2,002.64
    +35.17 (+1.79%)
     

  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     

  • NASDAQ futures

    17,685.50
    +78.75 (+0.45%)
     

  • VOLATILITY

    15.84
    +0.15 (+0.96%)
     

  • FTSE

    8,082.68
    +37.87 (+0.47%)
     

  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

  • CAD/EUR

    0.6837
    +0.0001 (+0.01%)
     

Here's Why Range (RRC) is an Attractive Investment Bet Now

Zacks Equity Research
·2 min read

Range Resources Corporation RRC has witnessed upward earnings estimate revisions for 2021 and 2022 in the past seven days. So far this year, the Zacks Rank #1 (Strong Buy) stock has gained 192.3%.

What’s Favoring the Stock?

The price of natural gas has skyrocketed more than 108% so far this year. While we are heading toward the winter heating season, concerns have intensified over tight supplies of natural gas, owing to which its price recently touched a seven-year high mark.

Being a leading producer of natural gas and natural gas liquid (NGL) in the United States, the massive improvement in the commodity price is definitely a boon for Range Resources’ upstream operations.

ADVERTISEMENT

In the Appalachia, the company has decades of low-risk drilling inventory, brightening up its production outlook. As compared to many other upstream players, the company has lower well costs per lateral foot.

The company has a strong focus on strengthening its balance sheet. Range Resources expects 2021 to be the fourth consecutive year of absolute debt reduction. On a positive note, the company has the lowest emission intensity among the upstream companies in the United States.

Range Resources Corporation Price

Range Resources Corporation Price
Range Resources Corporation Price

Range Resources Corporation price | Range Resources Corporation Quote

Other Stocks to Consider

Other prospective players in the energy space include Whiting Petroleum Corporation WLL, Continental Resources, Inc. CLR and Matador Resources Company MTDR. All the stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days.

Continental is expected to witness earnings growth of 428.2% in 2021.

Matador Resources has witnessed upward earnings estimate revisions for 2021 in the past 30 days.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Range Resources Corporation (RRC) : Free Stock Analysis Report

Continental Resources, Inc. (CLR) : Free Stock Analysis Report

Whiting Petroleum Corporation (WLL) : Free Stock Analysis Report

Matador Resources Company (MTDR) : Free Stock Analysis Report

To read this article on Zacks.com click here.