In a report released yesterday, Brad Heffern from RBC Capital maintained a Hold rating on Range Resources (RRC), with a price target of $2.00. The company’s shares closed last Monday at $2.28, close to its 52-week low of $1.61.
According to TipRanks.com, Heffern is a 1-star analyst with an average return of -4.3% and a 39.1% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Continental Resources, Par Pacific Holdings, and Extraction Oil & Gas.
The word on The Street in general, suggests a Hold analyst consensus rating for Range Resources with a $2.85 average price target, implying a 23.9% upside from current levels. In a report released yesterday, UBS also downgraded the stock to Hold with a $2.30 price target.
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Based on Range Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $587 million and GAAP net loss of $1.81 billion. In comparison, last year the company earned revenue of $972 million and had a GAAP net loss of $1.76 billion.
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.