Yahoo Finance What Do Wall Street Analysts Recommend for Range Resources?
What to Expect from Range Resources’ 1Q16 Earnings
Wall Street analysts’ ratings for Range Resources
Currently, ~50% of Wall Street analysts rate Range Resources (RRC) as a “buy,” and ~45% of analysts rate it as a “hold.” Around 21% rate the stock a “sell.” The median price target from these recommendations is $38.41, which is ~3% higher than the April 21 closing price of $37.17.
Based on the median price targets from Wall Street analysts, Occidental Petroleum (OXY), Energen (EGN), and Diamondback Energy (FANG) have potential upsides of ~1%, ~3%, and ~6%, respectively, from their April 21 closing prices. 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 while the ISE-Revere Nat Gas Index Fund (FCG) invests in natural gas producers.
Range Resources’ individual recommendations
As shown in the above table, the most recent recommendation of “neutral” comes from Robert Baird. On April 22, Robert Baird assigned Range Resources a 12-month target price of $35, which is ~6% lower than the April 21 closing price of $37.17.
In the first week of March 2016, Imperial Capital assigned Range Resources the lowest 12-month target price of $23, which is ~38% lower than the April 21 closing price of $37.17.
Some of the positives for RRC’s stock as noted by Wall Street analysts are timely asset sales to enhance liquidity and the ability to grow production despite reduced capex.
Browse this series on Market Realist:
