Shares of Range Resources (RRC) fell 5.3% in after-hours trading on Tuesday after the petroleum and natural gas exploration and production company reported revenues that fell massively short of expectations. Revenues increased 1% year-over-year to $303 million but fell significantly short of consensus estimates of $722.86 million. Further, adjusted earnings of $0.52 per share fell a cent short of analysts’ expectations of $0.53 per share. The company reported an adjusted loss of $0.05 per share in the prior-year period. During the quarter, Range Resources reported production that averaged 2.14 billion cubic feet equivalent (Bcfe) per day.
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Range Resources (NYSE:RRC)
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