topstockalerts
Oct 31, 1:58 AM
Range Resources Corporation: Mizuho maintained an Outperform rating on Range Resources with a
$67 price target, calculated using a 0.987 exchange ratio relative to its
$68 target for EQT, reflecting the pending acquisition between the two companies.
Range reported Q3 2026 EBITDAX of
$364 million and free cash flow of
$160 million, with both figures broadly in line with expectations. Strong well performance and expanded infrastructure supported higher-than-expected liquids volumes, while natural gas production exceeded estimates by approximately 2%, despite weak Appalachian gas prices. Hedging strategies helped offset regional pricing pressures and support cash flow generation.
Management maintained its 2026 production guidance of 2.35–2.40 million Mcfe per day, with output trending toward the upper end of the range. The company also expanded its risk-management strategy by adding three-way collar hedges for natural gas production in 2028 and 2029.
$RRC $EQT
