TD Cowen Reiterates Hold Rating on Range Resources (RRC)

TD Cowen analyst David Deckelbaum reiterated a Hold rating and $34.00 price target on Range Resources (NYSE: RRC).

The analyst commented, "RRC had a solid quarter, with EBITDAX beats led by stronger than expected nat gas realized prices. The company raised FY24 production guidance to 2.17 Bcfe/d on well performance and optimized gathering and compression, which is inline with our model. Capex guide was raised at the midpoint to $645-$670mm. RRC deferred 2 TILs to 2025 to maximize water savings while waiting for gas prices to improve."

For an analyst ratings summary and ratings history on Range Resources click here. For more ratings news on Range Resources click here.

Shares of Range Resources closed at $29.90 yesterday.

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