Range Resources Corp (RRC) Received its Third Buy in a Row


After Piper Jaffray and B.Riley FBR gave Range Resources Corp (NYSE: RRC) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Scott Hanold reiterated a Buy rating on Range Resources Corp yesterday and set a price target of $21. The company’s shares opened today at $17.92.

According to TipRanks.com, Hanold is a 1-star analyst with an average return of -0.9% and a 44.4% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Sanchez Energy Corporation.

Currently, the analyst consensus on Range Resources Corp is a Strong Buy with an average price target of $21, representing a 17.2% upside. In a report released yesterday, 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 net profit of $68.8 million.

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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.

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