B.Riley FBR Sticks to Their Hold Rating for Range Resources Corp

By Carrie Williams

B.Riley FBR analyst Rehan Rashid reiterated a Hold rating on Range Resources Corp (NYSE: RRC) today and set a price target of $17. The company’s shares closed yesterday at $15.06.

According to TipRanks.com, Rashid is a 3-star analyst with an average return of 9.0% and a 53.8% success rate. Rashid covers the Basic Materials sector, focusing on stocks such as Continental Resources, Petroquest Energy Inc, and Lonestar Resources US.

Range Resources Corp has an analyst consensus of Moderate Buy, with a price target consensus of $21.32.

Based on Range Resources Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $654 million and quarterly net profit of $219 million. In comparison, last year the company earned revenue of $504 million and had a GAAP net loss of $161 million.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.

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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.