Nomura Upgrades Range Resources Corp. to Buy

Brokerage firm Nomura Upgrades its rating on Range Resources Corp.(RRC). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Nomura was issued on Feb 6, 2017.

Range Resources Corp. (RRC) shares turned negative on Tuesdays trading session with the shares closing down -0.76 points or -2.24% at a volume of 32,13,457. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $34.17. The peak price level was also seen at $34.17 while the days lowest was $32.78. Finally the shares closed at $33.15. The 52-week high of the shares is $46.96 while the 52-week low is $21.69. According to the latest information available, the market cap of the company is $8,193 M.

Range Resources Corp.(RRC) last announced its earnings results on Oct 25, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $401.77M. Analysts had an estimated revenue of $356.34M. Earnings per share were $-0.06. The reported EPS was above estimates by $0.05 or 45.45%. Analysts had estimated an EPS of $-0.11.

Several Insider Transactions has been reported to the SEC. On Jan 5, 2017, Jeffrey L Ventura (President and CEO) sold 48,500 shares at $32.60 per share price.Also, On Jan 5, 2017, Ray N Jr Walker (EVP and COO) sold 13,754 shares at $32.60 per share price.On Jan 5, 2017, Roger S Manny (Exec VP and CFO) sold 20,000 shares at $32.60 per share price, according to the Form-4 filing with the securities and exchange commission.

Range Resources Corporation (Range) is an independent natural gas natural gas liquids (NGLs) and oil company. The Company is engaged in the engaged in the exploration development and acquisition of natural gas and oil properties mostly in the Appalachian and Midcontinent regions of the United States. The Company’s properties consist of interests in developed and undeveloped natural gas and oil leases in these regions. These interests are mostly in the form of working interests and to a lesser extent royalty and overriding royalty interests. The Company’s activities in the Midcontinent region include drilling production and field operations in the Texas Panhandle as well as in the Anadarko Basin of western Oklahoma the Nemaha Uplift of northern Oklahoma and Kansas the Permian Basin of West Texas and Mississippi.

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