Range Resources Corp Gets a Buy Rating from Susquehanna

By Ryan Adsit

In a report issued on July 9, Biju Perincheril from Susquehanna reiterated a Buy rating on Range Resources Corp (NYSE: RRC), with a price target of $20. The company’s shares closed yesterday at $16.40.

According to TipRanks.com, Perincheril is a 5-star analyst with an average return of 18.8% and a 70.7% success rate. Perincheril covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Jagged Peak Energy Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Range Resources Corp with a $19.57 average price target, representing a 19.3% upside. In a report issued on July 9, RBC Capital also reiterated a Buy rating on the stock with a $20 price target.

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Based on Range Resources Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $48.67 million. In comparison, last year the company had a net profit of $68.8 million.

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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.