Analysis: Range Resources Corporation (NYSE:RRC) Stock Target Increased Today
In an interesting research report distributed to Clients by Susquehanna on 3 December, the firm, Range Resources Corporation (NYSE:RRC), had their target PPS lowered to $39.00. Analusts at present have a solid “Positive” rating on the stock.
From a total of 34 analysts covering Range Resources Corp. (NYSE:RRC) stock, 27 rate it a ”Buy”, 0 a “Sell”, and 11 a ”Hold”. This means that 71% of the ratings are positive. The highest target price is $72 while the lowest target price is $22. The mean of all analyst targets is $47.04 with a 72.99% above today’s ($28.29) stock price. Range Resources Corp. was the topic of 35 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets upgraded shares on November 12 to “Outperform” rating. RBC Capital Markets maintained shares with “Sector Perform” rating and $47 target share price in a report from a November 4. Imperial Capital initiated RRC stock in a recent report from November 3 with “In-Line” rating. Citigroup maintained the rating on September 14. Citigroup has a “Neutral” rating and a $40 price target on shares. Finally, Zacks upgraded the stock to “Sell” rating in a report issued on an August 28.
Approximately 1.39 million shares of stock traded hands. Range Resources Corp. (NYSE:RRC) has declined 54.59% since April 30, 2015 and is downtrending. It has underperformed by 54.31% the S&P500.
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The company has a market cap of $4.87 billion. The Firm 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. It currently has negative earnings. The Company’s properties consist of interests in developed and undeveloped natural gas and oil leases in these regions.
According to Zacks Investment Research, “Range Resources Corp. acquires, develops, and finances oil and gas properties in the U.S. They seek to build value primarily through lower-risk development drilling and acquisitions while to a lesser degree pursuing higher risk exploitation and exploration projects on their extensive inventory of undeveloped acreage. Through its wholly owned subsidiary, Independent Producer Finance, the company also provides financing to small oil and gas producers by purchasing term overriding royalty interests in their properties.” Get a free copy of the Zacks research report on Range Resources Corp. (RRC).