FORT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Monday reported first-quarter earnings of $27.2 million.
On a per-share basis, the Fort Worth, Texas-based company said it had profit of 11 cents. Earnings, adjusted for non-recurring costs, came to 30 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The independent oil and gas company posted revenue of $626 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $562 million.
Range Resources shares have climbed 40% since the beginning of the year, while the S&P’s 500 index has risen 11%. In the final minutes of trading on Monday, shares hit $9.35, a climb of 78% in the last 12 months.