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

Rating:
Outperform
RRC
down 52.92 %

Range Resources Corporation (RRC) upgraded to Outperform with price target $100 by Oppenheimer

Posted on: Monday,  Jul 29, 2013  8:25 AM ET by Oppenheimer

Oppenheimer rated Outperform Range Resources Corporation (NYSE: RRC) on 07/29/2013. Previously Oppenheimer rated Perform
Range Resources Corporation (NYSE: RRC) on 10/01/2009., when the stock price was $49.66. Since then, Range Resources Corporation has gained 62.59% as of 07/29/2013's recent price of $80.74.

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.

OppenheimerFunds, Inc. has been helping investors achieve their financial goals since 1960. We are one of the nation's largest and most respected asset management companies. At OppenheimerFunds, we believe that in order for you to reach your financial goals, your investments must perform. That is why investment excellence—over the long term and across the range of our products—is our highest priority. OppenheimerFunds and its controlled affiliates offer a broad range of products and services to individuals, corporations and institutions, including mutual funds, separately managed accounts, investment management for institutions, hedge fund products, qualified retirement plans and subadvisory investment-management services.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/29/2013 8:25 AM Buy
None
80.74 100.00
as of 12/13/2013
1 Week up  0.79 %
1 Month up  6.50 %
3 Months up  1.33 %
1 YTD down  -1.30 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/1/2009 8:25 AM None
None
49.66

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