TD Cowen analyst David Deckelbaum has maintained their neutral stance on RRC stock, giving a Hold rating today.
David Deckelbaum has given his Hold rating due to a combination of factors including Range Resources’ recent performance and strategic moves. The company reported a solid quarter with production slightly exceeding expectations and EBITDAX outperforming consensus, while capital expenditures were lower than anticipated. However, the guidance remained largely unchanged, and the company’s hedging strategy saw minimal adjustments.
Despite positive developments such as the collaboration with Liberty Energy and Imperial Land Corp to supply natural gas for a new power plant, there are constraints in growth prospects due to pipeline limitations. Additionally, while Range Resources has been active in share repurchases and debt reduction, the overall financial outlook and strategic plans suggest a balanced risk-reward scenario, justifying the Hold rating.
In another report released today, Piper Sandler also maintained a Hold rating on the stock with a $32.00 price target.