Range Resources Corp Gets a Buy Rating from BMO Capital

By Ryan Adsit

BMO Capital analyst Dan McSpirit reiterated a Buy rating on Range Resources Corp (NYSE: RRC) today and set a price target of $30. The company’s shares opened today at $17.35, close to its 52-week low of $16.00.

According to TipRanks.com, McSpirit is a 3-star analyst with an average return of 1.3% and a 47.4% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Sanchez Energy Corporation, and Jagged Peak Energy Inc.

Currently, the analyst consensus on Range Resources Corp is Moderate Buy and the average price target is $25.88, representing a 49.2% upside.

In a report issued on November 3, Cowen & Co. also reiterated a Buy rating on the stock with a $30 price target.

Based on Range Resources Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $571 million and GAAP net loss of $128 million. In comparison, last year the company earned revenue of $349 million and had a GAAP net loss of $42.03 million.

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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.