RANGE RESOURCES CORP

Capital Structure and Liquidity Range Resources maintains a debt-to-equity ratio of 0.26, indicating a relatively conservative capital structure [doc:RRC-ValuationSnapshot]. The company's liquidity position is flagged as high risk due to current liabilities exceeding current assets, with a current ratio of 0.55 [doc:RRC-RiskAssessment]. Despite holding $247,000 in cash and equivalents, the company's net cash position is negative after subtracting total debt, which includes $1,198,334,000 in long-term debt [doc:RRC-FinancialSnapshot]. The company has $1.5 billion of committed borrowing capacity available under its credit facility, with $165.1 million of undrawn letters of credit [doc:RRC-FilingObservations]. ### Profitability and Returns For Q1 2026, Range Resources reported a net income of $341,630,000, translating to a return on equity (ROE) of 7.42% and a return on assets (ROA) of 4.61% [doc:RRC-ValuationSnapshot]. These metrics are above the industry median for ROE (4.2%) and ROA (3.1%) in the Oil & Gas Exploration and Production sector [doc:RRC-IndustryConfig]. The company's operating cash flow of $619,136,000 supports its liquidity, though the high debt-to-equity ratio suggests reliance on debt financing [doc:RRC-FinancialSnapshot]. ### Segments and Geographic Exposure Range Resources operates primarily in the Appalachian region, with 769,000 net acres under lease in Pennsylvania. The company's operations are concentrated in the Marcellus Shale, Utica/Point Pleasant, and Upper Devonian formations, with no material international exposure [doc:RRC-Description]. The geographic concentration in Pennsylvania exposes the company to regional regulatory and environmental risks, though the company's asset base is diversified across multiple formations [doc:RRC-IndustryConfig]. ### Growth Trajectory The company's Q1 2026 revenue of $1,067,481,000 represents a 33.5% increase compared to Q1 2025 ($791,920,000) [doc:RRC-FilingObservations]. The outlook for FY 2026 indicates continued growth, with a projected revenue increase of 12% year-over-year. The company's capital budget for 2026 is expected to focus on drilling in the Marcellus Shale, with a planned rig count of 15 [doc:RRC-Outlook]. The company's 2026 capital budget is aligned with its reserve replacement strategy, with a focus on high-margin drilling opportunities [doc:RRC-IndustryConfig]. ### Risk Factors Key risk factors include liquidity constraints, with current liabilities exceeding current assets, and the potential for dilution, though the risk is currently assessed as low [doc:RRC-RiskAssessment]. The company's exposure to commodity price volatility is mitigated through derivative contracts, with a net derivative asset of $92,848,000 as of March 31, 2026 [doc:RRC-FilingObservations]. The company's ESG controversies score of 100.0 indicates no material ESG-related controversies, though its governance and social scores (87.6 and 64.8, respectively) suggest room for improvement [doc:RRC-IRObservations]. ### Recent Events Recent filings include updated disclosures on short-term and long-term debt, as well as shares outstanding. The company's 10-K filing for FY 2025 provides detailed financial and operational data, including reserve estimates and capital expenditures [doc:RRC-FilingObservations]. The company has also disclosed its 2026 capital budget and drilling plans, with a focus on the Marcellus Shale [doc:RRC-Outlook].