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Here's Why You Should Retain Range Resources (RRC) Stock
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Range Resources Corporation‘s (RRC - Free Report) shareshave gained 24.6% year to date compared with the marginal improvement of 0.6% of the composite stocks belonging to the industry.
What’s Favoring the Stock?
In its latest short-term energy outlook, the U.S. Energy Information Administration revealed its forecast of the Henry Hub spot average price, which indicates that the pricing scenario will continue to improve in the coming quarters. This can benefit the upstream operation of Range Resources, which carries a Zacks Rank #3 (Hold).
RRC has decades of low-risk drilling inventory in Appalachia, brightening its production outlook. The company has lower well costs per lateral foot than many other upstream players.
Range Resources has a strong focus on strengthening its balance sheet. Over the past several years, RRC has consistently reduced its net debt load. Notably, the company has the lowest emission intensity among the upstream companies in the United States.
Risks
In spite of the positives, RRC’s overall operations are significantly exposed to extreme oil and natural gas price volatility.
Stocks to Consider
Better-ranked players in the energy space include Murphy USA Inc. (MUSA - Free Report) , The Williams Companies, Inc. (WMB - Free Report) and Transportadora de Gas del Sur SA (TGS - Free Report) . While Murphy USA and The Williams Companies sport a Zacks Rank #1 (Strong Buy), Transportadora de Gas carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA is a renowned retailer of gasoline and convenience goods, distinguished by its adaptable business model that effectively enhances profitability during periods of economic expansion and recession.
The Williams Companies is well-poised to capitalize on the mounting demand for clean energy since it engages in transporting, storing, gathering and processing natural gas and natural gas liquids.
With its pipeline networks spread across more than 30,000 miles, the company connects premium basins in the United States to the key market. WMB’s assets can meet 30% of the nation’s consumption of natural gas, which is utilized for heating purposes and clean-energy generation. Thus, the company will be generating stable fee-based revenues and has witnessed upward earnings estimate revisions for 2024 over the past 30 days.
Transportadora’s midstream asset portfolio has the most extensive natural gas pipeline network in Latin America. It generates stable fee-based revenues since its pipeline assets transport more than 60% of the gas consumed in Argentina.
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Here's Why You Should Retain Range Resources (RRC) Stock
Range Resources Corporation‘s (RRC - Free Report) shareshave gained 24.6% year to date compared with the marginal improvement of 0.6% of the composite stocks belonging to the industry.
What’s Favoring the Stock?
In its latest short-term energy outlook, the U.S. Energy Information Administration revealed its forecast of the Henry Hub spot average price, which indicates that the pricing scenario will continue to improve in the coming quarters. This can benefit the upstream operation of Range Resources, which carries a Zacks Rank #3 (Hold).
RRC has decades of low-risk drilling inventory in Appalachia, brightening its production outlook. The company has lower well costs per lateral foot than many other upstream players.
Range Resources has a strong focus on strengthening its balance sheet. Over the past several years, RRC has consistently reduced its net debt load. Notably, the company has the lowest emission intensity among the upstream companies in the United States.
Risks
In spite of the positives, RRC’s overall operations are significantly exposed to extreme oil and natural gas price volatility.
Stocks to Consider
Better-ranked players in the energy space include Murphy USA Inc. (MUSA - Free Report) , The Williams Companies, Inc. (WMB - Free Report) and Transportadora de Gas del Sur SA (TGS - Free Report) . While Murphy USA and The Williams Companies sport a Zacks Rank #1 (Strong Buy), Transportadora de Gas carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA is a renowned retailer of gasoline and convenience goods, distinguished by its adaptable business model that effectively enhances profitability during periods of economic expansion and recession.
The Williams Companies is well-poised to capitalize on the mounting demand for clean energy since it engages in transporting, storing, gathering and processing natural gas and natural gas liquids.
With its pipeline networks spread across more than 30,000 miles, the company connects premium basins in the United States to the key market. WMB’s assets can meet 30% of the nation’s consumption of natural gas, which is utilized for heating purposes and clean-energy generation. Thus, the company will be generating stable fee-based revenues and has witnessed upward earnings estimate revisions for 2024 over the past 30 days.
Transportadora’s midstream asset portfolio has the most extensive natural gas pipeline network in Latin America. It generates stable fee-based revenues since its pipeline assets transport more than 60% of the gas consumed in Argentina.