Range Resources, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Gabriele Sorbara from Siebert Williams Shank & Co maintained a Hold rating on the stock and has a $42.00 price target.
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Gabriele Sorbara’s rating is based on a combination of factors that reflect both positive and neutral aspects of Range Resources’ recent performance and outlook. The company reported strong third-quarter results, surpassing expectations in key financial metrics, and demonstrated a robust level of share buybacks. However, the guidance for the fourth quarter was mixed, with production estimates aligning with expectations but capital expenditure slightly lower and natural gas price differentials narrower than anticipated.
Despite these mixed signals, Range Resources reaffirmed its three-year outlook, projecting significant growth by 2027 with a disciplined capital expenditure plan. The company’s strong inventory depth in Appalachia and ability to reduce net debt provide flexibility for potential future buybacks. Nevertheless, the current valuation leads to a Hold rating, as the overall results and guidance are seen as neutral in the context of the existing commodity price environment.
According to TipRanks, Sorbara is a 5-star analyst with an average return of 19.6% and a 51.45% success rate. Sorbara covers the Energy sector, focusing on stocks such as Expand Energy, Vital Energy, and Chord Energy.
In another report released today, Barclays also maintained a Hold rating on the stock with a $44.00 price target.