Analysts Offer Insights on Utilities Companies: Marathon Petroleum (NYSE: MPC) and Range Resources (NYSE: RRC)

By Austin Angelo

There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Marathon Petroleum (MPCResearch Report) and Range Resources (RRCResearch Report) with bullish sentiments.

Marathon Petroleum (MPC)

Raymond James analyst Justin Jenkins reiterated a Buy rating on Marathon Petroleum today and set a price target of $82.00. The company’s shares closed last Friday at $58.68, close to its 52-week high of $64.84.

According to TipRanks.com, Jenkins is a 4-star analyst with an average return of 9.5% and a 61.0% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Dcp Midstream Partners, and Crossamerica Partners.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marathon Petroleum with a $72.40 average price target, representing a 24.7% upside. In a report issued on June 29, Barclays also initiated coverage with a Buy rating on the stock with a $71.00 price target.

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Range Resources (RRC)

In a report released yesterday, Subash Chandra from Northland Securities maintained a Buy rating on Range Resources, with a price target of $23.00. The company’s shares closed last Friday at $16.94, close to its 52-week high of $17.47.

According to TipRanks.com, Chandra is a 4-star analyst with an average return of 10.8% and a 51.6% success rate. Chandra covers the Utilities sector, focusing on stocks such as Continental Resources, Southwestern Energy, and Magnolia Oil & Gas.

Range Resources has an analyst consensus of Hold, with a price target consensus of $15.79, which is a -4.0% downside from current levels. In a report issued on July 6, RBC Capital also maintained a Buy rating on the stock with a $22.00 price target.

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