Stifel Nicolaus Thinks Range Resources Corp’s Stock is Going to Recover

By Ryan Adsit

Stifel Nicolaus analyst Karl Chalabala reiterated a Buy rating on Range Resources Corp (NYSE: RRC) yesterday and set a price target of $20. The company’s shares opened today at $18.78, close to its 52-week low of $16.00.

According to, Chalabala is ranked 0 out of 5 stars with an average return of -21.4% and a 23.0% success rate. Chalabala covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Southwestern Energy, and Comstock Resources.

Currently, the analyst consensus on Range Resources Corp is Moderate Buy and the average price target is $27.83, representing a 48.2% upside.

In a report issued on August 29, Jefferies also reiterated a Buy rating on the stock with a $36 price target.

Based on Range Resources Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $562 million and quarterly net profit of $68.8 million. In comparison, last year the company earned revenue of $265 million and had a GAAP net loss of $225 million.

Based on the recent corporate insider activity of 73 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. 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.