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Range Resources Corporation (RRC)

NYSE - Nasdaq Real Time Price. Currency in USD
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27.70-1.37 (-4.71%)
As of 01:28PM EDT. Market open.
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  • S
    $8 nat gas and rrc is still in the $20s
  • e
    Can someone pls explain the mark to market on derv loss of $900 million. Will this bring it down?
  • H
    $SD conversation
    Natural gas is again the only green thing on the screen early in the Asian session this evening. On Friday, SandRidge Energy (SD) was one of the only natural gas-focused E&Ps that remained in the green for the entire first half of the trading day before finally itself succumbing to the inexorable downward momentum of the market. One of these red days, we should stay in the green until close as more and more traders see SD as even more of a proxy for natural gas than most of the other natural gas-focused E&Ps considering how little (if even at all sometimes) SD hedges on compared to the rest of them. Again, as I've said many times here, as of last reporting on the March 9 Q1 call, SD stated that there were no hedges on the books. It was stated, however, that the company might look into putting on some hedges from time to time in the future. But it should be noted by any prospective investors that over the past year, whenever SD has put on hedges, they have been light and temporary compared to the rest of the companies in this space who use truly aggressive, earnings-destroying hedging regimes.

    $EQT $AR $SWN $RRC
  • A
    A record $372M FCF, paid down $350M debt and bought back 600k shares.

    Really good quarter, with much better to come with nat gas prices increasing.
  • A
    No brainer to sell this stock at this price and at this level of profit
  • H
    $AR conversation
    Congratulations on the great day. But you do realize that just like $EQT and $RRC, who also just reported, AR did had a GAAP earnings loss for the quarter do you not? Sure, it wasn't as bad as theirs, but it was still a GAAP loss of $156 million during one of the best natural gas pricing environments in history. That pretty much stinks if you ask me. And you all are jumping up and down like schoolchildren not realizing that basically the majority of the earnings potential of the company just got squandered and tossed right down the toilet by aggressive hedging. Yes, I know companies like yours are required to have these massive hedges on (even during times of crazy-high NG prices) because of the massive debts your companies are saddled with and the loan covenants that come along with those debts. Speaking of debt, as of the end of Q1, AR still is saddled with almost $2 billion in net debt. During one of the great bull runs in energy pricing history, AR has only managed to shave off less than 10% of its net debt in an entire year. That's because of all that overly-aggressive hedging and earnings potential gone down the toilet. Some people might be happy that AR announced it did not put on any *new* hedges during the quarter, but it stated that it still has 313 Bcf of its NG production hedged for the remainder of 2022 at some very low price like $2.49. If I am not mistaken, 313 Bcf is still nearly 40% of their annual NG production, folks.

    Just think, you could be jumping up and down like schoolchildren *and be right about it* if you were invested in SandRidge ( $SD ) which has remained either completely unhedged or only lightly hedged throughout one of the greatest bull runs in energy pricing history. As of last reporting on March 9 during the Q4 conference call, SandRidge stated that as of that date it had no hedges on. Now *that* is just the kind of smart, gutsy, and very timely non-hedging strategy that I want my E&P investment to have employed during these times of sky-high prices. Yes, SD did state on the call that they might look into putting on some hedges from time to time in the future. But the key point for investors is that whenever they have put on hedges during the past year, they have been very, very light compared to the ridiculously aggressive hedging employed by RRC, EQT, AR, and $SWN , to just name a few.

    As of Dec. 31, SD had $3.80 in net cash per share and growing. As of the time of the Q4 conference call on March 9, SD was completely debt-free. It is this beautiful lack of debt that allows SD the freedom to employ their light to non-hedging strategy. And they have employed that strategy beautifully throughout this energy bull run. With SD, investors can jump up and down like schoolchildren and be *right* about that celebration because SD will not only have nice non-GAAP, adjusted earnings like the rest of the NG-focused E&Ps, but it should also have very nice GAAP, non-adjusted earnings as well. On that last critical point, none of the other NG-focused E&Ps can say that. On the contrary they are all reporting big GAAP losses during these quarters of high NG prices because of their aggressive hedging. And that story will only continue with these high NG prices forecast to last for another year until next spring.

    I know what kind of hedging strategy I want my NG-focused E&P to have employed for these times.
  • j
    john c
    why cant they buy calls to protect against their hedges ?theyve sold so much lower in the biggest nat gas rally in 8 years.
  • B
    Barnacle Barney
    What's it like to be The Worst performing stock in the oil & gas sector ?
    Book value $6.61 per share
    $2.6 Billion in debts
    No E in the P/E ratio ?
  • e
    why cant this company get some appreciation in price? Are we at max capacity?
  • H
    $SD conversation
    eia just reported that the natural gas build for last week was *half* the expected amount (15 Bcf vs 30 Bcf expected). Natural gas spiked up on the news. Good entry point here for natural gas-focused SandRidge (SD) for anyone not already in.

    For those who haven't read my posts, SandRidge was completely unhedged as of the time of the last earnings release around March 10. Yes, it was mentioned that it might look into putting a few hedges on from time to time, but it clearly stated it had absolutely no hedges at the time of the release. SandRidge has remained either completely unhedged or only lightly hedged for the good part of the past year. This is the exact opposite of all other natural gas intensive E&Ps such as $EQT , $RRC , $AR , $SWN , $OVV , and $CNX . Unlike SandRidge, all of those companies are saddled with huge debt and as a result have loan covenants that force them to have ridiculously aggressive hedging regimes that have been and will continue to cause massive hedging losses to show up in their earnings reports every quarter for the foreseeable future.

    SandRidge, on the other hand, has no debt and has a very large cash position ($3.80/share net cash as of Dec 31 and growing quickly). As a result of its strong balance sheet, SandRidge is under absolutely no obligation to hedge. It has remained mostly unhedged for the good part of a year and was completely unhedged as of last reporting around March 10.
  • D
    Ignore the non-cash MTM adjustment on their hedges. Focus on "Adjusted Net Income" and EVEN MORE IMPORTANT the operating cash flow.
  • H
    $EQT conversation
    What did I tell you, folks?? I told you last month that EQT and all the other heavily indebted, hedged-to-the-hilt natural gas-focused E&Ps including the usual suspects $RRC , $SWN , and $AR would post historically massive derivative impairments in one of the best natural gas price environments in history. RRC proved me right yesterday, and EQT is proving me right today. EQT just posted a $3 billion derivative impairment(!) in their Q1 report and a GAAP loss of $4.05/share for the quarter. Are those the kind of results you want, folks, for your natural gas investment during one of the best natural gas price environments in history??

    I told you these horrendous numbers were on the way. But you folks don't like to listen, do you? You're too stubborn for that.

    Just put your money into SandRidge (SD). Zero-debt, cash-rich natural gas-focused E&P that does not employ hedging or else employs very little hedging compared to the others. *That* strategy is exactly what you want for your natural gas investment in one of the best pricing environments in history. You don't have to be worried about massive derivative impairments. You don't have to worry about the majority of your earnings potential during the greatest pricing environment in history getting flushed right down the toilet. All you have to do with SandRidge ( $SD ) is sit back and watch all the cash flow right into the register (and not into some commodity trader's pockets who took the other side of all those massively losing hedging positions the other companies hold).

    Just put your money into zero-debt, cash-rich, little to unhedged (as of last reporting it *was* completely unhedged) SandRidge Energy (SD) and sleep well at night with no headaches of massive derivative impairments on the way and earnings-obliterating hedges to greet you in the morning.

    Use your brains, folks!
  • Y
    Yahoo Finance Insights
    Range Resources is down 6.84% to 28.45
  • G
    First Quarter 2022 Results
    GAAP revenues for first quarter 2022 totaled $181 million, GAAP net cash provided from operating activities (including changes in working capital) was $406 million, and GAAP net loss was $457 million ($1.86 per diluted share). First quarter earnings results include a $939 million mark-to-market derivative loss due to the significant increase in commodity prices.
    Non-GAAP revenues for first quarter 2022 totaled $987 million, and cash flow from operations before changes in working capital, a non-GAAP measure, was $489 million. Adjusted net income comparable to analysts’ estimates, a non-GAAP measure, was $297 million ($1.18 per diluted share) in first quarter 2022.
  • H
    Over 900 million hedging loss, wiping out the vast quantity of potential in this company. What did I tell you folks?? Will be similar sad story at all other natural gas-focused E&Ps with the exception of Sandridge (SD). Little to no hedges on at SD! GAAP earnings and guidance should be a blowout. Stop congratulating poor management in all the other super-hedged companies losing all this potential right down the drain. Buy little to unhedged energy, mostly natural gas and NGL production in SD. Use your brains.

    $SD $EQT $SWN $AR
  • J
    Volume cut in half each day this week. Not good going into ER
  • d
    PHX Minerals earnings 5/9 and 50% coming from nat gas prices. 1.3x book and debt almost paid off now. Cash machine.
  • J
    Raising my price target to 90 -- about where it was in 2014! Europe countries will be buying lots of NG/ Lng from USA 🇺🇸.
  • B
    I reconfirming 59 on this.
  • A
    So is this run up associated with the EU and NATO agreement to sell more gas to Europe?