Range Resources Corporation
) is set to report first quarter 2014 results on Apr 28 after the
market closes. Last quarter, the company had posted an earnings
surprise of -7.69%. Let's see how things are shaping up for this
PIONEER EGY SVC (PES): Free Stock Analysis
PHILLIPS 66 PTR (PSXP): Free Stock Analysis
RANGE RESOURCES (RRC): Free Stock Analysis
UNIT CORP (UNT): Free Stock Analysis Report
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Factors to Consider
Independent oil and gas company, Range Resources' diversified
asset portfolio is spread between low-risk/long reserve-life
Appalachian assets and large-volume/rapid-payout Gulf Coast
properties. The company has an impressive inventory in the
Marcellus Shale, one of the prominent emerging shale plays in the
U.S. lower 48 states.
In 2013, Marcellus Shale well results continued to show
improvement from both a production and a cost perspective and
output averaged 968 million cubic feet equivalent per day
(MMcfe/d), up 37% from the prior year.
For the first quarter of 2014, the company targets production
growth of 20-25% year over year. Production is anticipated at
1.05 Bcfe per day, of which liquids is likely to comprise only
30-35%. As such the company remains susceptible to volatile
which could hurt the company's volumes and margins.
Our proven model does not conclusively show that Range Resources
is likely to beat earnings this quarter. That is because a stock
needs to have both a positive
and a Zacks Rank of #1, 2 or 3 for this to happen. That is not
the case here as you will see below.
Zacks ESP: The Earnings ESP for Range Resources is 0.00% since
the Most Accurate estimate stands at 38 cents, in line with the
Zacks Consensus Estimate.
Zacks Rank: Range Resources' Zacks Rank #1 (Strong Buy) has
little effect on the predictive power of ESP because the Zacks
Rank #1 when combined with a 0.00% ESP makes surprise prediction
Other Stocks to Consider
Here are some other companies you may want to consider as our
model shows that these have the right combination of elements to
post an earnings beat this quarter:
Pioneer Energy Services Corp.
) has an earnings ESP of +40.00% and holds a Zacks Rank #1.
Pioneer Energy Services Partners will report first quarter
earnings on Apr 29.
Phillips 66 Partners L.P.
) has an earnings ESP of +14.82% and holds a Zacks Rank #1.
Phillips 66 Partners will report first quarter earnings on Apr
) has an earnings ESP of +1.80% and holds a Zacks Rank #1. Unit
Corp. will report first quarter earnings on May 8.