Range Resources (RRC) Stock Forecast & Price Target

Range Resources is a strong Appalachian pure-play company, with a well-diversified asset base and a history of successful operations in the Marcellus shale. The company has a strong financial position, with a manageable level of net debt and a history of returning capital to shareholders through dividends and share repurchases. With a projected growth in production and a capital efficient outlook, Range Resources is well positioned for continued success in the Appalachian region.

Range Resources is a domestic independent oil and gas company operating in the Appalachian Basin, where they hold 520,000 net acres. While the company has strong production capabilities and a deep inventory bench with a breakeven price of ~$2.50/Mcf, their operational unit costs have risen to an uncompetitive level and the recent merger with Memorial Resource Development has not been successful, resulting in asset sales in 2020. The company also faces risks from commodity price fluctuations and increased government regulations.