Barclays analyst Betty Jiang upgrades $Range Resources (RRC.US)$ to a hold rating, and adjusts the target price from $35 to $34.
According to TipRanks data, the analyst has a success rate of 43.2% and a total average return of -1.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Range Resources (RRC.US)$'s main analysts recently are as follows:
The perceived risk/reward for Range Resources is now considered more balanced, with its relative valuation against peers having compressed significantly. The company's foundation is its 'best-in-class' inventory duration, which spans 25 years, with the majority of it yielding a minimum of 10% return even when the price is as low as $2.50/Mcfe.
Range Resources is perceived to have an 'attractive investment outlook' due to favorable valuation multiples and the potential for capital efficiency improvements in the coming years. While most E&P companies have seen reduced price expectations, Range, alongside Chesapeake and EQT Corporation, has maintained a positive projection.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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