Range Resources (RRC) Gets a Sell Rating from Credit Suisse
In a report released yesterday, William Featherston from Credit Suisse maintained a Sell rating on Range Resources (RRC), with a price target of $1.00. The company’s shares closed last Wednesday at $2.35, close to its 52-week low of $1.62.
According to TipRanks.com, Featherston has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.5% and a 44.4% success rate. Featherston covers the Basic Materials sector, focusing on stocks such as Occidental Petroleum, Chesapeake Energy, and Whiting Petroleum.
Currently, the analyst consensus on Range Resources is a Hold with an average price target of $2.85, which is a 25.6% upside from current levels. In a report issued on March 25, J.P. Morgan also downgraded the stock to Sell.
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The company has a one-year high of $11.18 and a one-year low of $1.62. Currently, Range Resources has an average volume of 14.44M.
Based on the recent corporate insider activity of 48 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.