Barclays has revised its price target for Range Resources (RRC, Financial), downgrading it from $43 to $39, while maintaining an Equal Weight rating. This adjustment is part of a first-quarter review of the integrated oil and exploration and production sector. The ongoing analysis highlights the importance of the macroeconomic environment, especially as companies with low break-even points and robust balance sheets are better prepared to withstand a period of low oil prices.
In addition to the price target adjustment, Barclays has also updated its oil price forecasts, reducing the expected prices for 2025 and 2026 to $60 and $65 per barrel, respectively. The firm notes that the sector continues to navigate a landscape filled with uncertainties, which could impact future valuations and strategies.
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 $41.14 with a high estimate of $55.00 and a low estimate of $22.55. The average target implies an upside of 23.59% from the current price of $33.29. 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 16.4% from the current price of $33.29. 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.
