Morgan Stanley Raises Range Resources Price Target to $48
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 27 2026
0mins
Should l Buy RRC?
Morgan Stanley analyst Devin McDermott raised the firm's price target on Range Resources to $48 from $40 and keeps an Equal Weight rating on the shares. Oil, LNG and refining margins have hit their highest levels since 2022 and even with de-escalation in Iran, it is becoming less likely that these markets can revert to their prior regime anytime soon, the analyst tells investors. The firm updated its price deck, increasing its 2026 WTI benchmark by 44%, NGLs by 40%, and cracks by 35%, while noting that its EBITDA estimates across its North America energy coverage are rising by about 40% for 2026 and 23% in 2027 on average.
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Analyst Views on RRC
Wall Street analysts forecast RRC stock price to rise
16 Analyst Rating
3 Buy
12 Hold
1 Sell
Hold
Current: 40.520
Low
36.00
Averages
42.00
High
48.00
Current: 40.520
Low
36.00
Averages
42.00
High
48.00
About RRC
Range Resources Corporation is an independent natural gas and natural gas liquids (NGLs) producer. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties in the Appalachian region of the United States. Its principal area of operations is the Marcellus Shale in Pennsylvania. Its properties consist of interests in developed and undeveloped natural gas and oil leases. It owns approximately 1,577 net producing wells in Pennsylvania. It holds a portfolio of drilling opportunities and unbooked resource potential within the Marcellus, Utica/Point Pleasant and Upper Devonian formations. Its exploration and production operations are limited to the onshore United States. It has approximately 879,000 gross (769,000 net) acres under lease. Its subsidiaries include Range Resources-Appalachia, LLC, Range Resources-Pine Mountain, LLC, Range Production Company, LLC, Range Resources-Midcontinent, LLC and Range Resources-Louisiana, Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Flowco Appoints New Independent Director
- Board Expansion: Flowco Holdings Inc. announced the appointment of Hardy Murchison as an independent director effective April 29, 2026, increasing the board size to eight members and independent directors from three to four, enhancing the board's independence and diversity.
- Rich Industry Experience: Murchison is the founder and CEO of Encino Energy, which under his leadership became Ohio's largest oil producer and second-largest natural gas producer, selling to EOG Resources for $5.6 billion in 2025, showcasing his success and influence in the energy sector.
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See More
Range Resources Q1 Earnings Exceed Expectations
- Strong Performance: Range Resources reported a Q1 non-GAAP EPS of $1.52, beating expectations by $0.24, indicating robust market performance that is likely to positively impact stock prices.
- Significant Revenue Growth: The company achieved Q1 revenue of $1.03 billion, a 49.2% year-over-year increase, surpassing market expectations by $68.63 million, reflecting strong business expansion and market demand that further solidifies its market position.
- Capital Budget Planning: Range anticipates an all-in capital budget of $650 million to $700 million for 2026, with expected annual production of approximately 2.35 to 2.40 Bcfe per day, and liquids expected to exceed 30%, laying a foundation for future growth.
- Updated Expense Guidance: The company updated its 2026 expense guidance, including direct operating expenses of $0.12 to $0.13 per mcfe and transportation, gathering, processing, and compression expenses of $1.55 to $1.60 per mcfe, demonstrating a focus on cost control aimed at enhancing profitability.
See More
Major Earnings Reports Expected After Tuesday's Close
- Earnings Release Preview: Major companies including Annaly Capital Management (NLY), Intuitive Surgical (ISRG), United Airlines Holdings (UAL), Capital One Financial Corporation (COF), and EQT Corporation (EQT) are set to report earnings after Tuesday's close, with high market attention that could influence stock price volatility.
- Market Reaction Expectations: Investors are eagerly anticipating the upcoming earnings reports, particularly from NLY and ISRG, as their performance in their respective industries could significantly impact market sentiment.
- Additional Earnings Reports: In addition to the major players, companies such as ADC, AMX, ASMIY, CALX, CB, CYH, ELS, EWBC, HWC, IBKR, MANH, OZK, PALAF, PEGA, RRC, SON, WAL, and WRB will also release earnings after Tuesday's close, further enriching market information.
- Earnings Season Calendar: Seeking Alpha provides a comprehensive earnings season calendar to assist investors in tracking market dynamics and formulating investment strategies, thereby enhancing decision-making efficiency.
See More
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- Revenue Growth Expectations: The anticipated revenue for Q1 is $923.88 million, representing a 33.8% year-over-year increase, which highlights the company's competitive position and rising product demand, potentially boosting investor confidence.
- Historical Performance Review: Over the past two years, Range Resources has beaten EPS estimates 88% of the time and revenue estimates 50% of the time, suggesting a stable performance record that may attract more investor interest and enhance the company's standing in the industry.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen 16 upward revisions and 4 downward revisions, while revenue estimates have experienced 5 upward revisions and 1 downward revision, indicating increased analyst confidence in the company's future performance, which could have a positive effect on stock prices.
See More
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Dividend-Paying Stocks as a Safe Haven: Dividend-paying stocks have provided investors with a refuge amid the ongoing conflict in the Middle East.
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