Brokerage Stephens raises PT on Range Resources

Range Resources

23/10/2024 16:47

** Brokerage Stephens raises price target on oil and gas
producer Range Resources Corp  RRC.N   to $37 from $36 on
third-quarter profit beat
    ** RRC shares up 2.5% at $30.65
    ** New price target represents a 24% upside to the stock's
last close
    ** Brokerage says company will raise Q4 2024 cash flow per
share 3% based on improved outlook for production, realized
natural gas and natural gas liquids prices
    ** Adds that improved well operations and efficient
collection processes boosted production by 2% over the past
three-year average
    ** Co reported Q3 adj. profit/shr of 48 cents vs est. of 38
cents - LSEG 
    ** 7 of 25 brokerages rate the stock "buy" or higher, 14
"hold" and 4 "sell"; their median PT is $33.50 - LSEG data
    ** Including session's moves, stock is up 1% YTD

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))