Susquehanna has revised its outlook for Range Resources (RRC, Financial), adjusting the stock's price target from $40 to $36 while maintaining a Neutral rating. This decision is influenced by the firm's updated oil price forecasts, which estimate a drop to approximately $68 per barrel in 2025 and $67 per barrel in 2026 and beyond.
Several factors are contributing to this reassessment. Notably, persistent tariff pressures have tempered global demand projections, leading to a decline in oil prices as the second quarter begins. This market shift is compounded by mounting recession concerns, which are dampening investor sentiment.
Additionally, OPEC+ is set to reverse its previous voluntary production reductions, which amounted to 2.2 million barrels per day. This rollback, beginning in April, will introduce more oil supply into the market, further influencing price dynamics.
These developments are pivotal in Susquehanna's revised expectations for Range Resources, reflecting broader trends in the global oil market. Investors in RRC will be watching these factors closely as they assess future prospects.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Range Resources Corp (RRC, Financial) is $41.66 with a high estimate of $55.00 and a low estimate of $22.55. The average target implies an upside of 27.72% from the current price of $32.62. More detailed estimate data can be found on the Range Resources Corp (RRC) Forecast page.
Based on the consensus recommendation from 27 brokerage firms, Range Resources Corp's (RRC, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Range Resources Corp (RRC, Financial) in one year is $27.83, suggesting a downside of 14.68% from the current price of $32.62. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Range Resources Corp (RRC) Summary page.
