Range Resources (RRC) Valuation Update - Jan 7

[dan_s]

RRC closed at $23.86 on January 6.

Assuming HH natural gas prices average $4.00 in 2023, my valuation of RRC declines by $4 to $41/share.

TipRanks: "In the last 3 months, 10 ranked analysts set 12-month price targets for RRC. The average price target among the analysts is $35.50. The 10 price targets range from $28 to $46."

With an average realized gas price of $4.23/mcf in 2022, Range's operating cash flow comes in at more than $2.0 billion with FCF over $1.5 billion. The balance sheet is in good shape, and they started a stock buyback program.