Range Resources (RRC) Price Target - July 31
Posted: Sun Jul 31, 2022 1:52 pm
I just finished reviewing our updated profile on Range Resources (RRC) that will be posted to the EPG website later today and sent to all of our members via email on Monday morning. We post all updated forecasts, profiles and recorded events to the website at least a few hours before we send them out via email. So, if you are looking for something "hot off the press" it is best to check the website first.
TipRanks: "On 7/27/2022 RBC Capital analyst Scott Hanold raised the price target on Range Resources (NYSE: RRC) to $45.00 (from $44.00) while maintaining an Outperform rating." RBC Capital has one of the best teams covering the energy sector. Scott is a rated a 5-Star analyst by TipRanks.
RRC continues to trade at a deep discount to its PV10 Net Asset Value. I think the Wall Street Gang was expecting Range to start paying dividends, but they said on the CC that they will wait one more quarter. The BOD still wants to get the Company's net debt down to 1.0X EBITDA first and they are continuing to repurchase their common stock. IMO it really doesn't matter because debt repayment and lowering the outstanding shares actually has a bigger increase on stock valuation.
RRC closed at $33.07 on Friday.
My current valuation is $48/share, but if 2022 results finish inline with my forecast model assumptions and natural gas prices stay over $5.00, my valuation will increase to $55/share in six months.
TipRanks: "On 7/27/2022 RBC Capital analyst Scott Hanold raised the price target on Range Resources (NYSE: RRC) to $45.00 (from $44.00) while maintaining an Outperform rating." RBC Capital has one of the best teams covering the energy sector. Scott is a rated a 5-Star analyst by TipRanks.
RRC continues to trade at a deep discount to its PV10 Net Asset Value. I think the Wall Street Gang was expecting Range to start paying dividends, but they said on the CC that they will wait one more quarter. The BOD still wants to get the Company's net debt down to 1.0X EBITDA first and they are continuing to repurchase their common stock. IMO it really doesn't matter because debt repayment and lowering the outstanding shares actually has a bigger increase on stock valuation.
RRC closed at $33.07 on Friday.
My current valuation is $48/share, but if 2022 results finish inline with my forecast model assumptions and natural gas prices stay over $5.00, my valuation will increase to $55/share in six months.