Northland Securities Maintains a Buy Rating on Range Resources (RRC)
In a report released today, Subash Chandra from Northland Securities maintained a Buy rating on Range Resources (RRC), with a price target of $14.00. The company’s shares closed last Tuesday at $6.36.
According to TipRanks.com, Chandra is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -8.3% and a 38.7% success rate. Chandra covers the Utilities sector, focusing on stocks such as Continental Resources, Southwestern Energy, and Concho Resources.
The word on The Street in general, suggests a Hold analyst consensus rating for Range Resources with a $7.92 average price target, implying a 18.6% upside from current levels. In a report issued on October 26, Merrill Lynch also upgraded the stock to Buy.
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Based on Range Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $424 million and GAAP net loss of $680 million. In comparison, last year the company earned revenue of $548 million and had a GAAP net loss of $27.58 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.