Range Resources, the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Roger Read from Wells Fargo maintained a Buy rating on the stock and has a $46.00 price target.
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Roger Read’s rating is based on a combination of factors including Range Resources’ steady operational execution and strong free cash flow generation, despite the downside risks posed by softer gas and NGL price realizations. The company is expected to continue robust share buybacks, supported by its strong free cash flow, which enhances shareholder value.
Additionally, Range Resources has a balanced production and activity plan that aligns with its three-year strategy, with anticipated production increases in the latter half of 2025. The company’s commitment to reducing net debt and maintaining flexibility in its buyback program further supports the Buy rating. Moreover, Range Resources’ strategic approach to potential mergers and acquisitions, leveraging its deep asset base, positions it well for future growth opportunities.
RRC’s price has also changed slightly for the past six months – from $37.520 to $37.470, which is a -0.13% drop .