Piper Sandler Reduces PT on Range Resources Corporation (RRC) to $37 Following Q3 2025 Results

With significant hedge fund interest, Range Resources Corporation (NYSE:RRC) secures a spot on our list of the 12 best commodity stocks to buy right now.

On November 18, 2025, The Fly reported that Piper Sandler’s Mark Lear reduced the price target on Range Resources Corporation (NYSE:RRC) from $39 to $37, while maintaining a “Neutral” rating. The price revision reflects updated models following the third-quarter results for the sector.

Previously, on November 5, 2025, Raymond James raised its price target on Range Resources Corporation (NYSE:RRC) from $41 to $42, while maintaining an “Outperform” rating. The investment firm’s bullish stance reflects the company’s third-quarter results, in which it exceeded the firm’s earnings estimate by 9%. On the weakness side, Raymond James highlighted lower-than-expected NGL realization guidance. However, the weakness failed to affect the firm’s overall outlook for the company.

Meanwhile, earlier on October 29, 2025, Range Resources Corporation (NYSE:RRC) reported its Q3 2025 results. The quarter saw steady execution by the company across capital, production, and pricing. Furthermore, the company achieved its operating target while maintaining tight spending. This reinforced analyst confidence in the company’s three-year free cash flow outlook.

The company’s diluted non-GAAP net income per share of $0.57 surpassed the investment firm’s estimate by 9% and exceeded the Street’s estimate by 7%, thanks to stronger realizations and lower operating costs. The quarter also saw shareholders’ returns of $56 million from buybacks, while net debt remained stable at roughly $1.2 billion. The company also paid $21 million in dividends during the quarter. Moreover, heavy capital spending of $190 million was recorded in Q3, accounting for roughly 29% of the full-year budget.

Looking ahead, Range Resources Corporation (NYSE:RRC) raised its 2025 production guidance and expects steady free cash flow generation through 2027. The company expects to produce 2.23 billion cubic feet equivalent (Bcfe) per day in 2025, marginally up from its earlier estimate of approximately 2.225 Bcfe per day.

Range Resources Corporation (NYSE:RRC), a U.S. independent natural gas and NGL producer, supplies key domestic and LNG-linked markets.

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