Range Resources (RRC)

NYSEEnergyOil & Gas Exploration & ProductionSnapshot 2026-10-23

$45.52+3.78%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Range Resources’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+7.6%

+10% or more+5%0%−5%−10% or less

3.92 → 4.22 EPS · FY ending Dec 31, 2027 · 14 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 13 to 14; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	909.97M
EPS	—	1.058
FY 2026 · Annual
Revenue	—	3.51B
EPS	—	4.137
Capital expenditure	$650M–$700M	—
FY 2027 · Annual
Revenue	—	3.65B
EPS	—	4.219

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Capital expenditure remains below $700 million annually	A supporting condition in Range Resources's published investment case. The stated target is <= $700 million in FY2026.	Intact	Capex exceeds $700 million in FY2026	Capital expenditures: $181.454M FY2026-Q2; GAAP. Published target: <= $700 million in FY2026. Target period ends 2026-12-31; this observation covers 2026-Q2. Source published Jul 21, 2026181,454,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Cash from operations at least $619 million in next quarter	Range Resources grows revenue by over $200 million next year.	Intact	Cash from operations falls below $257.5 million in any quarter next year	Cash from operations: $235.015M FY2026-Q2; GAAP. Published target: >= $619.1 million in 2026-Q1. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Jul 21, 2026235,015,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: stock_quarterly_financials_fmp. Reference: 2026-Q2. Source status: unverified. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Net income at least $341.6 million in next quarter	Net income more than doubles to $341.6 million in Q1 2026.	Improving	Net income falls below $179 million in any quarter next year	Net income: $195.323M FY2026-Q2; GAAP. Published target: >= $341.6 million in 2026-Q1. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Jul 21, 2026195,323,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: a34c01dd-dfaf-4c20-b2c7-9e371ef3388e. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue grows by at least $200 million over next four quarters	Range Resources grows revenue by over $200 million next year.	Intact	Revenue falls below $820 million in any quarter next year	Revenue: $833.571M FY2026-Q2; GAAP. Published target: >= $1.03 billion in next quarter. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Jul 21, 2026833,571,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: a34c01dd-dfaf-4c20-b2c7-9e371ef3388e. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$4.22

$4.14 → $4.22 · observed estimates

FY2027 revenue$3.65B

$3.84B → $3.65B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$4.14	$3,840,599,470	23 / 9
2026-07-25	$4.03	$3,779,574,080	23 / 9
2026-07-26	$4.03	$3,779,574,080	23 / 9
2026-07-27	$4.02	$3,779,574,080	23 / 9
2026-07-28	$3.99	$3,631,342,663	14 / 7
2026-07-29	$4.00	$3,736,830,340	23 / 8
2026-07-30	$3.97	$3,627,646,885	14 / 7
2026-07-31	$4.00	$3,736,830,340	23 / 8
2026-08-01	$3.96	$3,624,882,941	13 / 7
2026-08-02	$4.00	$3,736,830,340	23 / 8
2026-08-03	$3.96	$3,624,882,941	13 / 7
2026-08-04	$3.96	$3,624,882,941	13 / 7
2026-08-05	$3.96	$3,624,882,941	13 / 7
2026-08-06	$3.96	$3,624,882,941	13 / 7
2026-08-08	$3.96	$3,624,882,941	13 / 7
2026-08-09	$4.00	$3,747,872,140	23 / 8
2026-08-10	$4.00	$3,747,872,140	23 / 8
2026-08-12	$4.00	$3,747,872,140	23 / 8
2026-08-13	$3.96	$3,624,882,941	13 / 7
2026-08-14	$3.96	$3,624,882,941	13 / 7
2026-08-15	$3.96	$3,624,882,941	13 / 7
2026-08-16	$3.96	$3,624,882,941	13 / 7
2026-08-17	$3.96	$3,624,882,941	13 / 7
2026-08-18	$3.96	$3,624,882,941	13 / 7
2026-08-19	$3.96	$3,624,882,941	13 / 7
2026-08-20	$3.94	$3,625,972,482	13 / 7
2026-08-21	$3.91	$3,616,083,593	13 / 7
2026-08-22	$3.91	$3,616,083,593	13 / 7
2026-08-23	$3.91	$3,616,083,593	13 / 7
2026-08-24	$3.91	$3,616,083,593	13 / 7
2026-08-25	$3.91	$3,616,139,149	13 / 7
2026-08-26	$3.91	$3,616,139,149	13 / 7
2026-08-27	$3.91	$3,616,139,149	13 / 7
2026-08-28	$3.91	$3,616,139,149	13 / 7
2026-08-29	$3.91	$3,616,139,149	13 / 7
2026-08-30	$3.91	$3,616,139,149	13 / 7
2026-08-31	$3.91	$3,616,139,149	13 / 7
2026-09-01	$3.91	$3,616,139,149	13 / 7
2026-09-02	$3.91	$3,616,139,149	13 / 7
2026-09-03	$3.91	$3,616,139,149	13 / 7
2026-09-04	$3.91	$3,616,139,149	13 / 7
2026-09-05	$3.91	$3,616,139,149	13 / 7
2026-09-06	$3.91	$3,616,139,149	13 / 7
2026-09-07	$3.91	$3,616,139,149	13 / 7
2026-09-08	$3.87	$3,616,139,149	13 / 7
2026-09-09	$3.87	$3,616,139,149	13 / 7
2026-09-10	$3.86	$3,616,139,149	13 / 7
2026-09-11	$3.86	$3,616,139,149	13 / 7
2026-09-12	$3.87	$3,618,694,704	13 / 7
2026-09-13	$3.91	$3,618,694,704	14 / 7
2026-09-14	$3.91	$3,618,694,704	14 / 7
2026-09-15	$3.91	$3,618,694,704	14 / 7
2026-09-16	$3.91	$3,618,694,704	14 / 7
2026-09-17	$3.91	$3,618,694,704	14 / 7
2026-09-18	$3.91	$3,618,694,704	14 / 7
2026-09-19	$3.91	$3,618,694,704	14 / 7
2026-09-20	$3.91	$3,618,694,704	14 / 7
2026-09-21	$3.91	$3,618,694,704	14 / 7
2026-09-22	$3.91	$3,618,694,704	14 / 7
2026-09-23	$3.91	$3,618,694,704	14 / 6
2026-09-24	$3.92	$3,618,694,704	13 / 6
2026-09-25	$3.93	$3,623,416,927	13 / 6
2026-09-26	$3.93	$3,623,416,927	13 / 6
2026-09-27	$3.93	$3,623,416,927	13 / 6
2026-09-28	$3.93	$3,623,416,927	13 / 6
2026-09-29	$3.93	$3,623,416,927	13 / 6
2026-09-30	$3.93	$3,623,416,927	13 / 6
2026-10-01	$3.93	$3,623,416,927	13 / 6
2026-10-02	$3.94	$3,627,812,704	13 / 6
2026-10-03	$3.93	$3,624,892,022	13 / 6
2026-10-04	$3.97	$3,637,447,577	13 / 6
2026-10-05	$3.94	$3,637,447,577	13 / 6
2026-10-06	$3.94	$3,639,836,466	13 / 6
2026-10-07	$3.94	$3,639,336,466	14 / 7
2026-10-08	$3.96	$3,621,754,180	14 / 7
2026-10-09	$3.96	$3,621,754,180	14 / 7
2026-10-10	$3.96	$3,621,754,180	14 / 7
2026-10-11	$3.96	$3,621,754,180	14 / 7
2026-10-12	$3.99	$3,621,754,180	14 / 7
2026-10-13	$3.99	$3,621,754,180	14 / 7
2026-10-14	$3.99	$3,621,754,180	14 / 7
2026-10-15	$3.96	$3,598,310,688	13 / 7
2026-10-16	$4.01	$3,605,755,794	14 / 7
2026-10-17	$4.01	$3,605,755,794	14 / 7
2026-10-18	$4.11	$3,629,144,683	14 / 8
2026-10-19	$4.11	$3,629,144,683	14 / 8
2026-10-20	$4.18	$3,640,866,905	14 / 8
2026-10-21	$4.19	$3,640,866,905	14 / 8
2026-10-22	$4.19	$3,640,081,683	14 / 8
2026-10-23	$4.19	$3,640,081,683	14 / 8
2026-10-24	$4.22	$3,647,907,238	14 / 8

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	6	15	3
2026-06-01	6	16	2
2026-07-01	6	16	2
2026-08-01	6	16	1
2026-09-01	6	17	1
2026-10-01	6	18	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 6 Buy / Strong Buy · 18 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades4 maintains

Recent actions · Sep 25–Oct 24 · 4 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Raymond JamesOct 23 · prior Jul 27

$45.00 → $48.00+6.7%

SusquehannaOct 20 · prior Jul 21

$41.00 → $44.00+7.3%

Goldman SachsOct 20 · prior Jun 30

$39.00 → $37.00-5.1%

Morgan StanleyOct 15 · prior Aug 19

$43.00 → $45.00+4.7%

ScotiabankOct 14

$42.00New observation · no comparable prior

$0$26.40$52.80

3 raises · 1 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Capital expenditure remains below $700 million annuallyCapital expenditures: $181.454M
Cash from operations at least $619 million in next quarterCash from operations: $235.015M
Net income at least $341.6 million in next quarterNet income: $195.323M
Revenue grows by at least $200 million over next four quartersRevenue: $833.571M

Next proof point

Oct 27, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.2%Typical daily move · historical

Downside history

-25.5%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Range Resources outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

RRC is a cyclical energy producer with a multi-year growth plan, rather than a business with earnings that are steady through all market conditions. Management appears to be executing on production growth, while the overall thesis state remains unclear because there is not enough recent financial history.

What's priced into Range Resources

The valuation evidence calls RRC cheap versus peers, but also tags expectations as stretched, with a 0.21 expectations gap and medium model confidence. The evidence suggests the market is not pricing in the full combination of weak execution and a turbulent sector, though it does flag some execution weakness and sector uncertainty.

What the fundamentals likely do

Near term, production growth and record drilling and completion efficiencies support the disciplined growth plan, and recent earnings beats have shifted the signal from mixed to mildly favorable. Capital spending and shareholder returns are mixed against management’s stated priorities, while a recent history of a deep miss and a downward trend in earnings surprises remain risks.

What Range Resources hinges on

The next call matters: a guidance cut would be a meaningful negative, while continued delivery on the growth plan would support the multi-year thesis. The sector backdrop also depends on whether bellwethers such as COP, EOG, and OXY keep beating and guiding higher or instead begin missing and lowering guidance.