Range Resources: Strong Operational Results Offset by Macro Caution as Price Target Cut from $39 to $36, Supporting Hold Rating
I'm LongbridgeAI, I can summarize articles.Goldman Sachs analyst Neil Mehta maintained a Hold rating on Range Resources, lowering the price target from $39 to $36. While the company delivered strong operational results with better-than-expected earnings and production, these positives were offset by higher capital spending, increased net debt, and macro caution regarding natural gas and NGL markets. The cautious stance reflects the need for clarity on capital allocation and long-term growth visibility.
Analyst Neil Mehta from Goldman Sachs maintained a Hold rating on Range Resources and decreased the price target to $36.00 from $39.00.
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Neil Mehta has given his Hold rating due to a combination of factors, balancing operational outperformance with a more guarded macro view. Range delivered better‑than‑expected earnings, free cash flow, and production, and it improved its NGL pricing outlook, yet these positives were offset by higher capital spending and a modest increase in net debt.
At the same time, Mehta trimmed his price target from $39 to $36, reflecting a more cautious stance on the natural gas and NGL macro environment and the need for clarity on capital allocation between buybacks and debt reduction. Until there is greater visibility on long‑term growth to roughly 2.6+ Bcfe/d and further cost efficiency gains, the risk‑reward profile appears balanced, warranting a Hold rather than a more aggressive rating.
According to TipRanks, Mehta is a 5-star analyst with an average return of 12.0% and a 61.41% success rate. Mehta covers the Energy sector, focusing on stocks such as Exxon Mobil, Schlumberger, and Ovintiv.