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What to Expect from Range Resources’ 1Q16 Earnings

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Part 3
What to Expect from Range Resources’ 1Q16 Earnings PART 3 OF 4

What Do Wall Street Analysts Recommend for Range Resources?

Wall Street analysts’ ratings for Range Resources

Currently, ~50% of Wall Street analysts rate Range Resources (RRC) as a “buy,” and ~45% of analysts rate it as a “hold.” Around 21% rate the stock a “sell.” The median price target from these recommendations is $38.41, which is ~3% higher than the April 21 closing price of $37.17.

Based on the median price targets from Wall Street analysts, Occidental Petroleum (OXY), Energen (EGN), and Diamondback Energy (FANG) have potential upsides of ~1%, ~3%, and ~6%, respectively, from their April 21 closing prices. The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies while the ISE-Revere Nat Gas Index Fund (FCG) invests in natural gas producers.

What Do Wall Street Analysts Recommend for Range Resources?

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Range Resources’ individual recommendations

As shown in the above table, the most recent recommendation of “neutral” comes from Robert Baird. On April 22, Robert Baird assigned Range Resources a 12-month target price of $35, which is ~6% lower than the April 21 closing price of $37.17.

In the first week of March 2016, Imperial Capital assigned Range Resources the lowest 12-month target price of $23, which is ~38% lower than the April 21 closing price of $37.17.

Some of the positives for RRC’s stock as noted by Wall Street analysts are timely asset sales to enhance liquidity and the ability to grow production despite reduced capex.

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