RBC Capital Thinks Range Resources Corp’s Stock is Going to Recover

By Ryan Adsit

RBC Capital analyst Scott Hanold reiterated a Buy rating on Range Resources Corp (NYSE: RRC) on March 9 and set a price target of $50. The company’s shares opened today at $27.73, close to its 52-week low of $26.70.

According to TipRanks.com, Hanold is a 5-star analyst with an average return of 9.4% and a 50.8% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Contango Oil & Gas Company, Sanchez Energy Corporation, and Quicksilver Resources Inc.

Currently, the analyst consensus on Range Resources Corp is Strong Buy and the average price target is $44.33, representing a 59.9% upside.

In a report issued on February 24, KLR Group also maintained a Buy rating on the stock with a $60 price target.

The company has a one year high of $46.96 and a one year low of $26.70. Currently, Range Resources Corp has an average volume of 4.59M.

Based on the recent corporate insider activity of 53 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Range Resources Corp. is an independent natural gas and oil company, which engages in the exploration, development, and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions of the United States. It operates through single segment which is the exploration and production of natural gas, natural gas liquids, and oil in the United States. The company was founded in 1976 and is headquartered in Fort Worth, TX.