Stephens & Co. Maintains Overweight on Range Resources, Raises Price Target to $53

Shares of oil and gas exploration and production companies are trading lower as API data indicating a U.S. crude inventory weekly increase and EIA data showing that gasoline and distillate stored volumes grew since last week are pressuring stocks that have heavier exposure to the North American physical energy market. Also, reports suggesting Saudi Arabia is making efforts to get crude exports moving are dampening oil prices.

Barclays Maintains Equal-Weight on Range Resources, Raises Price Target to $42

Natural Gas Posts a 3% Weekly Gain on Supportive Demand Trends

Natural gas prices gained 3% to $2.975/MMBtu as unusually warm weather boosted cooling demand and LNG export maintenance ended, increasing feedgas consumption by 12%. Storage builds trailed five-year averages, supporting prices, though strong U.S. production limited gains. The market shows improving demand dynamics with favorable supply-demand balance.

Morgan Stanley Maintains Equal-Weight on Range Resources, Lowers Price Target to $43

Morgan Stanley analyst Devin McDermott maintains Range Resources (NYSE:RRC) with a Equal-Weight and lowers the price target from $44 to $43.