After RBC Capital and B.Riley FBR gave Range Resources Corp (NYSE: RRC) a Buy rating last month, the company received another Buy, this time from Guggenheim. Analyst Subash Chandra reiterated a Buy rating on Range Resources Corp yesterday and set a price target of $20. The company’s shares closed yesterday at $17.04.
According to TipRanks.com, Chandra is a 4-star analyst with an average return of 11.8% and a 61.1% success rate. Chandra covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Anadarko Petroleum, and Devon Energy Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Range Resources Corp with a $20 average price target, a 17.4% upside from current levels. In a report issued on September 20, B.Riley FBR also upgraded the stock to Buy with a $22 price target.
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Based on Range Resources Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $79.91 million. In comparison, last year the company had a GAAP net loss of $128 million.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RRC in relation to earlier this year.
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Range Resources Corp. engages in the exploration, development, and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.
