FORT WORTH, Texas
Range Resources Corp. (RRC) on Monday reported a loss of $156.5 million in its second quarter.
On a per-share basis, the Fort Worth, Texas-based company said it had a loss of 65 cents. Earnings, adjusted for one-time gains and costs, were 24 cents per share.
The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 24 cents per share.
The independent oil and gas company posted revenue of $434.7 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $569.9 million.
Range Resources shares have more than doubled since the beginning of the year, while the S&P’s 500 index has risen 18%. In the final minutes of trading on Monday, shares hit $15.99, more than doubling in the last 12 months.