Range Resources Corporation (RRC) : Analyst Rating Update

Range Resources Corporation (RRC) : Zacks Investment Research ranks Range Resources Corporation (RRC) as 3, which is a Hold recommendation. 8 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 12 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 22 research analysts is 2.18, which indicates as a Buy.

Range Resources Corporation (RRC) : The consensus price target for Range Resources Corporation (RRC) is $46.33 for the short term with a standard deviation of $6.62. The most optimist securities analyst among the 18 who monitor the stock believes that the stock can reach $62, however, the pessimist price target for the company is $34.

Range Resources Corporation (NYSE:RRC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.97 and $41.68 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $43.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $43.02, notching a gain of 1.82% for the day. The total traded volume was 3,290,959 . The stock had closed at $42.25 on the previous day.

Also, Equity analysts at the Brokerage firm Deutsche Bank maintains its rating on Range Resources Corporation (NYSE:RRC). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Deutsche Bank lowers the price target from $45 per share to $40 per share. The rating by the firm was issued on June 14, 2016. The company shares have dropped -6.73% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $47.95 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $43.17 and the 200 Day Moving Average price is recorded at $34.01.

Range Resources Corporation (Range) is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the engaged in the exploration, development and acquisition of natural gas and oil properties, mostly in the Appalachian and Midcontinent regions of the United States. The Companys properties consist of interests in developed and undeveloped natural gas and oil leases in these regions. These interests are mostly in the form of working interests and, to a lesser extent, royalty and overriding royalty interests. The Companys activities in the Midcontinent region include drilling, production and field operations in the Texas Panhandle, as well as in the Anadarko Basin of western Oklahoma, the Nemaha Uplift of northern Oklahoma and Kansas, the Permian Basin of West Texas and Mississippi.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.