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

Rating:
Equal-Weight
RRC
up 16.90 %

Range Resources Corporation (RRC) downgraded to Equal-Weight by Morgan Stanley

Posted on: Thursday,  Jul 18, 2013  8:25 AM ET by Morgan Stanley

Morgan Stanley rated Equal-Weight Range Resources Corporation (NYSE: RRC) on 07/18/2013. Previously Morgan Stanley rated Overweight Range Resources Corporation (NYSE: RRC) on
12/10/2012., when the stock price was $64.89. Since then, Range Resources Corporation has gained 16.91% as of 07/18/2013's recent price of $75.86.
If you would have followed the previous Morgan Stanley's recommendation on RRC, you would have gained 16.9% of your investment in 220 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.

Morgan Stanley Investment Research is one of the financial industry's dominant thought leaders in equity and fixed-income investing. Our analysts, economists, and strategists have earned this reputation through timely, in-depth analysis of companies, industries, markets, and the world’s economies. Our teams collaborate to assist Morgan Stanley clients with investment decisions, using cash and derivative instruments across major asset classes and geographies.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/18/2013 8:25 AM Hold
None
75.86
as of 12/13/2013
1 Week   
1 Month   
3 Months   
1 YTD up  20.73 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/10/2012 9:25 AM Buy
None
64.89

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