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Enter Symbol:
Range Resources Corporation (RRC) [hlAlert]

Mkt Perform

Range Resources Corporation (RRC) rated Mkt Perform with price target $57 by FBR Capital

Posted on: Monday,  Jun 11, 2012  8:25 AM ET by FBR Capital

FBR Capital rated Mkt Perform Range Resources Corporation (NYSE: RRC) on 06/11/2012. Previously FBR Capital rated Outperform Range Resources Corporation (NYSE: RRC)
on 01/11/2011., when the stock price was $47.23. Since then, Range Resources Corporation has gained 9.57% as of 03/01/2011's recent price of $51.75.
If you would have followed the previous FBR Capital's recommendation on RRC, you would have gained 9.57% of your investment in 49 days.

Range Resources Corporation (Range) is engaged in the exploration, development and acquisition of oil and gas properties, primarily in the Southwestern, Appalachian and Gulf Coast regions of the United States. During the year ended December 31, 2008 the Company?s proved reserves comprised 2.7 trillion cubic feet equivalents (Tcfe) of proved reserves; 83% natural gas; 62% proved developed; 77% operated, and a reserve life of 17.9 years. During 2008, Range owned 3,694,000 gross (2,952,000 net) acres of leasehold, including 407,800 acres where it also owns a royalty interest. The Company has built a multi-year inventory drilling that is estimated to contain over 12,000 drilling locations. In 2008, the Company?s annual production averaged 385.6 millions of cubic feet equivalent (Mmcfe) per day. In 2008, Range drilled 634 gross wells. In 2008, Range purchased producing and non-producing Barnett Shale properties. Also in 2008, the Company sold properties located in East Texas.

FBR Capital uses a highly disciplined analysis focused on intrinsic value, which we developed to critically examine the capital structure of the companies we cover, as well as their competitive positions and the growth opportunities within their industries. We apply this discipline – which helps us assess how effectively a company’s managers deploy the capital entrusted to them – not only in our published research but also when making investing and underwriting judgments.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
6/11/2012 8:25 AM Hold
57.08 57.00
as of 12/31/2012
1 Week   
1 Month   
3 Months   
1 YTD   
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/14/2011 8:25 AM Hold
69.30 75.00
3/1/2011 8:25 AM Hold
51.75 55.00
1/11/2011 8:25 AM Buy
47.23 55.00
7/27/2010 3:25 PM Buy
37.18 60.00

(*) Stock Price at the time of the recommendation.
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