In-Depth Examination Of 24 Analyst Recommendations For Range Resources
Throughout the last three months, 24 analysts have evaluated Range Resources (NYSE:RRC), offering a diverse set of opinions from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 7 | 9 | 3 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 3 | 4 | 1 | 0 |
| 2M Ago | 1 | 2 | 3 | 2 | 0 |
| 3M Ago | 1 | 2 | 2 | 0 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for Range Resources, presenting an average target of $37.21, a high estimate of $45.00, and a low estimate of $23.00. Observing a 4.96% increase, the current average has risen from the previous average price target of $35.45.
Investigating Analyst Ratings: An Elaborate Study
The standing of Range Resources among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Nitin Kumar | Mizuho | Raises | Buy | $45.00 | $41.00 |
| Lloyd Byrne | Jefferies | Raises | Hold | $34.00 | $32.00 |
| Mark Lear | Piper Sandler | Raises | Overweight | $43.00 | $41.00 |
| Nitin Kumar | Mizuho | Raises | Buy | $41.00 | $39.00 |
| Scott Hanold | RBC Capital | Raises | Sector Perform | $39.00 | $36.00 |
| Biju Perincheril | Susquehanna | Raises | Neutral | $38.00 | $36.00 |
| Mike Scialla | Stephens & Co. | Raises | Overweight | $42.00 | $41.00 |
| Derrick Whitfield | Stifel | Raises | Buy | $39.00 | $36.00 |
| Biju Perincheril | Susquehanna | Raises | Neutral | $36.00 | $34.00 |
| Mark Lear | Piper Sandler | Raises | Overweight | $41.00 | $40.00 |
| Devin McDermott | Morgan Stanley | Raises | Underweight | $33.00 | $23.00 |
| Scott Hanold | RBC Capital | Maintains | Outperform | $36.00 | - |
| Cameron Bean | Scotiabank | Raises | Sector Perform | $45.00 | $40.00 |
| Nitin Kumar | Mizuho | Maintains | Buy | $39.00 | $39.00 |
| Betty Jiang | Barclays | Announces | Underweight | $35.00 | - |
| Scott Hanold | RBC Capital | Maintains | Outperform | $36.00 | - |
| Bertrand Hodee | Truist Securities | Lowers | Hold | $30.00 | $32.00 |
| Paul Diamond | Citigroup | Raises | Neutral | $37.00 | $33.00 |
| Devin McDermott | Morgan Stanley | Raises | Underweight | $23.00 | $22.00 |
| Nitin Kumar | Mizuho | Raises | Buy | $39.00 | $37.00 |
| Roger Read | Wells Fargo | Raises | Equal-Weight | $34.00 | $32.00 |
| Mark Lear | Piper Sandler | Lowers | Overweight | $40.00 | $42.00 |
| Scott Hanold | RBC Capital | Maintains | Outperform | $36.00 | - |
| Bertrand Hodee | Truist Securities | Lowers | Hold | $32.00 | $33.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Range Resources. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Range Resources compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Range Resources's stock. This comparison reveals trends in analysts' expectations over time.
For valuable insights into Range Resources's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Range Resources analyst ratings.
Get to Know Range Resources Better
Fort Worth-based Range Resources is an independent exploration and production company with that focuses entirely on its operations in the Marcellus Shale in Pennsylvania. At year-end 2023, Range Resources' proven reserves totaled 18.1 trillion cubic feet equivalent, with net production of 2.14 billion cubic feet equivalent per day. Natural gas accounted for 69% of production.
Unraveling the Financial Story of Range Resources
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Range Resources faced challenges, resulting in a decline of approximately -26.84% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Range Resources's net margin excels beyond industry benchmarks, reaching 15.29%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Range Resources's ROE stands out, surpassing industry averages. With an impressive ROE of 2.41%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Range Resources's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.26%, the company showcases efficient use of assets and strong financial health.
Debt Management: Range Resources's debt-to-equity ratio is below the industry average. With a ratio of 0.5, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Basics of Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.