Range Resources Corp. (RRC) is Downgraded by Nomura to Neutral

Range Resources Corp. (RRC) was Downgraded by Nomura to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Nomura advised their investors in a research report released on Jun 8, 2016.

Many Wall Street Analysts have commented on Range Resources Corp.. Company shares were Reiterated by Nomura on May 20, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $29 .Range Resources Corp. was Upgraded by Raymond James to ” Outperform” on May 17, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Underweight”, Firm has raised the Price Target to $ 30 from a previous price target of $24 .

On the company’s financial health, Range Resources Corp. reported $-0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.19. The company had revenue of $331.40 million for the quarter, compared to analysts expectations of $319.11 million. The company’s revenue was down -28.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Range Resources Corp. opened for trading at $45.09 and hit $46.57 on the upside on Tuesday, eventually ending the session at $46.22, with a gain of 2.62% or 1.18 points. The heightened volatility saw the trading volume jump to 38,45,326 shares. Company has a market cap of $7,846 M.

In a different news, on May 27, 2016, David P Poole (Sr. VP & General Counsel) sold 8,942 shares at $43.00 per share price. According to the SEC, on May 27, 2016, Anthony V Dub (director) sold 5,000 shares at $41.61 per share price. On May 27, 2016, Ray N Jr Walker (EVP and COO) sold 25,090 shares at $43.00 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.

Range Resources Corp.

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