David Deckelbaum, an analyst from TD Cowen, maintained the Hold rating on Range Resources. The associated price target is $42.00.
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David Deckelbaum has given his Hold rating due to a combination of factors affecting Range Resources. The company reported a solid quarter, surpassing production estimates by 1% and capital expenditure estimates by 13%. Despite this, the EBITDAX was slightly below expectations due to lower prices not being fully offset by reduced costs. The company’s capital expenditures were also lower than anticipated, prompting a reduction in the top end of their guidance.
Additionally, Range Resources has been active in shareholder returns, repurchasing shares and paying off senior notes, which has kept their net debt within target levels. The company remains optimistic about the future demand for natural gas, with several projects expected to boost demand in the coming years. However, the current market conditions and financial metrics suggest a balanced outlook, leading to the Hold rating.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $37.00 price target.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RRC in relation to earlier this year.