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Here's Why it is Worth Investing in Range Resources (RRC) Now
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Range Resources Corporation (RRC - Free Report) has witnessed upward earnings estimate revisions for 2021 and 2022 over the past seven days. Also, the Zacks Rank #1 (Strong Buy) stock has surged 145.5% year to date as compared to the industry’s 83% rise.
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What’s Favoring the Stock?
The company is a leading upstream energy player with strong presence in the stacked-pay projects in the prolific Appalachian Basin. In the United States, Range Resources is touted as among the top 10 producers of natural gas and natural gas liquids (NGL). Thus, the company is well positioned to capitalize on the surging natural gas price.
Range Resources’ production outlook seems bright. This is because the company has identified roughly 3,100 undrilled wells in the prolific Marcellus shale play.
Being a leading gas producer, the upstream firm is reaping the benefits of rising U.S. export, which is already at a record high. In fact, the company expects export capacity of natural gas to increase further in the coming years.
At the cost front, the company is ahead of most of its peers. Range Resources’ well cost per lateral foot is among the lowest in the industry, aiding the bottom line. Under its debt-reduction initiatives, the company has a clear goal. It aims to utilize increasing free cash flows, being supported by higher natural gas and NGL prices, to lower its debt load.
Other Stocks to Consider
Other promising players in the energy space include Whiting Petroleum Corporation , Continental Resources, Inc. and PDC Energy, Inc. . While Whiting Petroleum carries a Zacks Rank #2 (Buy), Continental Resources and PDC Energy 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 256% in 2021.
PDC Energy is likely to see earnings growth of 111.8% in 2021.
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Here's Why it is Worth Investing in Range Resources (RRC) Now
Range Resources Corporation (RRC - Free Report) has witnessed upward earnings estimate revisions for 2021 and 2022 over the past seven days. Also, the Zacks Rank #1 (Strong Buy) stock has surged 145.5% year to date as compared to the industry’s 83% rise.
What’s Favoring the Stock?
The company is a leading upstream energy player with strong presence in the stacked-pay projects in the prolific Appalachian Basin. In the United States, Range Resources is touted as among the top 10 producers of natural gas and natural gas liquids (NGL). Thus, the company is well positioned to capitalize on the surging natural gas price.
Range Resources’ production outlook seems bright. This is because the company has identified roughly 3,100 undrilled wells in the prolific Marcellus shale play.
Being a leading gas producer, the upstream firm is reaping the benefits of rising U.S. export, which is already at a record high. In fact, the company expects export capacity of natural gas to increase further in the coming years.
At the cost front, the company is ahead of most of its peers. Range Resources’ well cost per lateral foot is among the lowest in the industry, aiding the bottom line. Under its debt-reduction initiatives, the company has a clear goal. It aims to utilize increasing free cash flows, being supported by higher natural gas and NGL prices, to lower its debt load.
Other Stocks to Consider
Other promising players in the energy space include Whiting Petroleum Corporation , Continental Resources, Inc. and PDC Energy, Inc. . While Whiting Petroleum carries a Zacks Rank #2 (Buy), Continental Resources and PDC Energy 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 256% in 2021.
PDC Energy is likely to see earnings growth of 111.8% in 2021.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>