Analysts Offer Insights on Materials Companies: Range Resources Corp (NYSE: RRC) and Parsley Energy (NYSE: PE)

By Jason Carr

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Range Resources Corp (RRCResearch Report) and Parsley Energy (PEResearch Report) with bullish sentiments.

Range Resources Corp (RRC)

In a report released today, Brad Heffern from RBC Capital reiterated a Buy rating on Range Resources Corp, with a price target of $12. The company’s shares opened today at $10.84.

According to TipRanks.com, Heffern is a 5-star analyst with an average return of 11.2% and a 49.4% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Contango Oil & Gas Company, and Sanchez Energy Corporation.

Range Resources Corp has an analyst consensus of Moderate Buy, with a price target consensus of $18.82, representing a 73.6% upside. In a report released today, TD Securities also upgraded the stock to Buy with a $15 price target.

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Parsley Energy (PE)

In a report released today, Phillip Jungwirth from BMO Capital reiterated a Buy rating on Parsley Energy, with a price target of $25. The company’s shares opened today at $17.02, close to its 52-week low of $14.17.

According to TipRanks.com, Jungwirth is a 1-star analyst with an average return of -3.3% and a 40.5% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Whiting Petroleum Corp, and Jagged Peak Energy Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Parsley Energy with a $30 average price target, implying a 76.3% upside from current levels. In a report issued on January 4, Imperial Capital also maintained a Buy rating on the stock with a $33 price target.

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