In a notable performance, Range Resources Corp (NYSE:RRC) stock has reached a 52-week high, touching $41.66. With a market capitalization of $10 billion, this peak reflects a robust year for the natural gas and oil producer, with the stock price soaring by 41.19% over the past year. According to InvestingPro data, the stock's RSI indicates overbought territory, suggesting investors should monitor valuation levels carefully. Investors have shown increasing confidence in the company's ability to capitalize on the energy market's dynamics, particularly in the context of rising demand and fluctuating supply scenarios. The 52-week high milestone underscores Range Resources' strong position in the industry, with analysts setting a high target of $47. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 8 analysts revising their earnings expectations upward for the upcoming period. For deeper insights and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Range Resources has experienced several revisions in its stock outlook. JPMorgan (NYSE:JPM) maintained an Underweight rating, but increased the price target to $40. Analyst Arun Jayaram anticipates the company to deliver a straightforward fourth quarter for 2024, with production and financial results aligning with market expectations. The company's anticipated fourth-quarter production is pegged at 2.20 billion cubic feet equivalent per day (Bcfe/d) with capital expenditures of $157 million. JPMorgan estimates Range Resources will report earnings per share (EPS) and cash flow per share (CFPS) of $0.62 and $1.26, respectively.
BofA Securities revised its stance on Range Resources, elevating the stock's rating from Neutral to Buy and increasing the price target to $45. This adjustment reflects the firm's recognition of Range Resources' strong fundamentals and its potential for growth. RBC (TSX:RY) Capital Markets updated its outlook on Range Resources Corp by increasing its price target from $35.00 to $40.00, while retaining its Sector Perform rating.
Stephens, a financial services firm, increased its stock price target for Range Resources from $37.00 to $39.00, influenced by the anticipation of continued growth in international natural gas liquids (NGL) demand. These are among the recent developments at Range Resources.
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