FT WORTH, Texas (AP) _ Range Resources Corp. (RRC) on Wednesday reported a loss of $160.7 million in its fourth quarter.
On a per-share basis, the Ft Worth, Texas-based company said it had a loss of 66 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 23 cents per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The independent oil and gas company posted revenue of $253.5 million in the period, which fell short of Street forecasts. Nine analysts surveyed by Zacks expected $531.8 million.
For the year, the company reported that its loss narrowed to $521.4 million, or $2.75 per share. Revenue was reported as $1.1 billion.
Range Resources shares have decreased 13 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5.5 percent. In the final minutes of trading on Wednesday, shares hit $29.93, a climb of 20 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RRC at https://www.zacks.com/ap/RRC
Keywords: Range Resources, Earnings Report