Range Resources

Range Resources produces natural gas, natural gas liquids (NGLs) and oil in the Appalachian Basin, mostly from the Marcellus Shale in Pennsylvania. Production averaged 2.50 Bcfe per day in Q3 2026, about 68% natural gas, with record liquids production of 133,173 barrels per day. Proved reserves were 18.1 Tcfe at the end of 2025.

Range sells NGLs into US and export markets. On October 25, 2026, Range agreed to an all-stock merger with EQT Corporation.

Range Resources now trades on the terms of its all-stock merger with EQT, so its price follows the EQT share price and natural gas prices. Each Range share will become 0.987 EQT shares, and Range holders will own about 27% of the combined company. The companies expect to close the deal in the first quarter of 2027. Before the deal, the market priced Range on its own cash flow, which moves with natural gas and NGL prices.

EQT expects $325 million of base annual synergies within two years and a path to more than $600 million. For the gap to close, three things must be true. Shareholders of both companies must approve the merger, and the antitrust review must end without a block. The combined company must deliver the synergies.

Natural gas prices must support growth, such as Range's plan for about 2.6 Bcfe per day in 2027. The shareholder votes and the antitrust review, expected before the planned close in Q1 2027, give the next tests. If the deal closes, the value of a Range share depends on EQT's results from 2027. If the deal fails, EQT must pay Range a termination fee of $1,148 million in some cases, but Range's price would again follow its own cash flow and gas prices.

1. Feb 23, 2027 · est.Pending

   Q4 2026 results, if Range still reportsProduction near 2.5 Bcfe per day and lower net debt pass; lower production or higher debt fail.
2. Q1 2027 · est.Pending

   EQT merger closingApproval by both sets of shareholders, the end of the antitrust review and a close in Q1 2027 pass; a block, a failed vote or a delay past the October 25, 2027 end date fail.

Every passed and failed checkpoint across all picks

• October 27, 2026Range reported Q3 2026 results. GAAP net income was $175 million, or $0.75 per diluted share, and adjusted EPS was $0.81. Cash flow from operations before working capital changes was $347 million, and capital spending was $170 million. Production averaged 2.50 Bcfe per day, with record liquids production of 133,173 barrels per day. Range did not buy back shares in the quarter and held no conference call because of the pending merger.
• October 26, 2026Range and EQT announced a merger agreement, signed on October 25, 2026. Each Range share will become 0.987 EQT shares, and Range holders will own about 27% of the combined company. The companies expect $325 million of base annual synergies within two years and a close in Q1 2027, after shareholder votes and regulatory approval. Range must pay EQT $423 million, or EQT must pay Range $1,148 million, if the deal ends in some cases.
• July 21, 2026Range reported Q2 2026 results. Production averaged 2.30 Bcfe per day, and the NGL price was a record $3.49 per barrel above the Mont Belvieu benchmark. Range bought back $78 million of shares and kept its 2026 capital budget of $650 million to $700 million.

Last earnings

October 28, 2026 (8-K on sec.gov)

Next earnings

Expected about February 23, 2027. The company has not confirmed the date.

• 8-KEarnings releaseFiled October 28, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 27, 2026 · rrc-20260930
• 8-KNew material agreement and Investor disclosureFiled October 26, 2026 · Read it on sec.gov
• 8-KEarnings releaseFiled October 14, 2026 · rrc-20261014
• 8-KEarnings releaseFiled July 22, 2026 · rrc-20260721
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 21, 2026 · rrc-20260630
• 8-KEarnings releaseFiled July 10, 2026 · rrc-20260710
• 8-KShareholder vote resultsFiled May 13, 2026 · rrc-20260513
• 10-QQuarterly report for the period ended Mar 31, 2026Filed April 21, 2026 · rrc-20260331
• 10-KAnnual report for the period ended Dec 31, 2025Filed February 24, 2026 · rrc-20251231

Every filing on SEC EDGAR (CIK 315852)

• Natural gas and NGL prices set most of Range's cash flow. The realized price with hedges fell from $4.84 per mcfe in Q1 2026 to $3.43 per mcfe in Q3 2026.
• The merger needs approval from shareholders of both companies and the end of the antitrust waiting period. If the deal fails, the price can fall, and in some cases Range must pay EQT a $423 million fee.
• After the merger, Range holders will hold EQT shares. Their value will depend on EQT's integration of Range and on the synergies.
• Firm transportation, gathering and processing commitments rose by about $1.5 billion in the first nine months of 2026. These fixed costs stay when gas prices fall.

Range funds itself with one issue of senior notes and a secured bank credit facility. At September 30, 2026, debt principal was $794 million: $500 million of 4.75% senior notes due 2030 and $294 million drawn on the credit facility. Read more

Dividend yield

0.7% (last 12 months, at today’s price of $55.88)

Paid per share

$0.39 in the last 12 months (4 payments)

Current annual rate

$0.40 ($0.10 × 4 a year)

Payout ratio

13% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

September 11, 2026, $0.10 per share

Dividends per share by year

Over the last 10 years, the dividend grew by about 14.6% a year.

Source: company filings and market data, read on October 29, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.