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FORT WORTH, Texas - Range Resources Corporation (NYSE:RRC), an independent natural gas and NGL producer with a market capitalization of $8.81 billion, announced today the addition of Christian S. Kendall to its Board of Directors, effective immediately. Kendall, with over three decades of experience in the oil and gas industry, will contribute to the Governance and Nominating and ESG and Safety Committees at Range Resources. According to InvestingPro data, the company has demonstrated strong momentum with a 30.23% price return over the past six months.
Kendall’s career includes a recent role as President and CEO of Denbury Inc., a position he held until the company’s acquisition by Exxon Mobil Corporation (NYSE:XOM) in November 2023. His experience spans across various leadership roles, notably as Senior Vice President, Global Operations Services at Noble Energy (NASDAQ:NBL), where he served for 14 years. Range Resources has maintained profitability over the last twelve months, with an EBITDA of $776.39 million and revenue of $2.36 billion.
Greg Maxwell, Range’s Chairman, expressed confidence in Kendall’s ability to enhance the company’s strategy, particularly in developing the Marcellus Shale position to increase shareholder value. Kendall’s appointment is seen as a move to leverage his technical expertise and executive success within the energy sector.
Kendall’s educational background includes a Bachelor of Science in Engineering from the Colorado School of Mines and completion of the Advanced Management Program at Harvard Business School. He also currently serves on the boards of NOV Inc. and California Resources (NYSE:CRC) Corporation, along with its subsidiary, Carbon TerraVault.
Based in Fort Worth, Texas, Range Resources focuses on operations in the Appalachian Basin and is recognized as a leading producer in the U.S. The company’s strategic appointment of Kendall underscores its commitment to governance and sustainable practices as it navigates the evolving energy landscape. InvestingPro analysis suggests the stock is currently overvalued, with six analysts having revised their earnings estimates upward for the upcoming period. For deeper insights into Range Resources’ valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
This news article is based on a press release statement from Range Resources Corporation.
In other recent news, Range Resources reported mixed results for its fourth-quarter 2024 earnings. The company exceeded earnings per share expectations, posting $0.68 against a forecast of $0.58, indicating effective cost management. However, revenue fell short, coming in at $626.42 million compared to the anticipated $693.27 million. Additionally, JPMorgan raised its price target for Range Resources from $40.00 to $43.00, while maintaining an Underweight rating, following the company’s strategic plan to increase production modestly in 2026-27. The firm plans a capital expenditure of $670 million for 2025, focusing on maintenance, land acquisition, growth capital, and environmental initiatives. Range Resources also highlighted its advantageous tax position, with significant federal and Pennsylvania net operating losses expected to enhance cash flows by over $300 million in the next two years. The company has secured transportation that aligns with its production portfolio, with a larger proportion directed to the Midwest compared to the Gulf Coast. Despite the revenue shortfall, Range Resources demonstrated robust free cash flow generation, totaling $453 million for the year, and reduced net debt by $172 million.
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