Range Resources (RRC) Stock Forecast & Price Target

Range Resources, based in Fort Worth, holds proven reserves of 18.1 trillion cubic feet equivalent and achieves net production of 2.2 billion cubic feet equivalent per day, with natural gas comprising 68% of its output. The company is positioned for growth as it targets a steady increase to 2.6 billion cubic feet equivalent per day by 2027, supported by strong pricing in NGL markets and ongoing stock buyback opportunities, potentially exceeding $1 billion over the next three years. Additionally, Range Resources benefits from an advantageous selling portfolio and export agreements that provide premium pricing relative to peers, further enhancing its financial prospects.

Range Resources, an independent exploration and production company focused on the Marcellus Shale, has faced underlying risks primarily related to weaker-than-expected commodity prices, which could significantly hinder stock performance and impede financial objectives. Despite adjustments in operating expenses, with lease operating expenses (LOE) lowered and general and administrative costs (G&A) reduced, the company remains vulnerable to a scenario where natural gas prices fall well below the projected long-term average of $3.50 per million cubic feet. With proven reserves comprising 18.1 trillion cubic feet equivalent and a production rate of 2.2 billion cubic feet equivalent per day predominantly from natural gas, Range Resources' reliance on stable commodity prices underscores the potential for adverse impacts on its financial outlook.