Yahoo Finance What Do Wall Street Analysts Forecast for Range Resources?
Analyzing the Range Resources-Memorial Resource Development Merger
Wall Street analysts’ ratings for Range Resources
Currently, ~49% of Wall Street analysts rate Range Resources (RRC) a “buy” and ~48% of the analysts rate it a “hold.” Around 3% rate the stock a “sell.” The median price target from these recommendations is $44.43. This is ~18% higher than Range Resources’ closing price of $37.69 on May 16, 2016.
Based on the median price targets from Wall Street analysts’ recommendations, other upstream companies like Pioneer Natural Resources (PXD), EOG Resources (EOG), and Marathon Oil (MRO) have potential upsides of ~11%, ~6%, and ~17%, respectively, from their closing prices on May 16, 2016. The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies. The ISE-Revere Nat Gas Index Fund (FCG) invests in natural gas producers.
Range Resources’ individual recommendations
Above table shows Wall Street analysts’ forecast for Range Resources following its merger announcement.
As shown in above table, the most recent recommendation of “strong buy” comes from Bernstein. It was issued on May 17, 2016. Bernstein assigned Range Resources a target price of $44. This is ~17% higher than the closing price of $37.69 on May 16, 2016. Bernstein expects it to reach the target price within 12 months from the date of recommendation.
Range Resources’ highest target price
The highest target price for Range Resources comes from Stephens. It assigned Range Resources a target price of $54. This is ~44% higher than the closing price of $37.69 on May 14. Stephens issued its recommendation on May 16, 2016. It expects the target price to be hit within 12 months from the date of recommendation.
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