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

Rating:
Sector Perform
RRC

Range Resources Corporation (RRC) downgraded to Sector Perform with price target $65 by RBC Capital Mkts

Posted on: Thursday,  Feb 28, 2008  10:25 AM ET by RBC Capital Mkts

Range Resources (RRC) rated Sector
Perform with price target $65 by RBC Capital Mkts.

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.

RBC Capital Markets is an international corporate and investment bank that provides innovative solutions and a focused set of products and services to institutions, corporations, governments and high net worth clients around the world. With nearly 3,700 professional and support staff, we operate out of 75 offices in 15 countries and deliver our products and services through operations in Asia and Australasia, the UK and Europe and in every major North American city.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/12/2015 8:25 AM Buy
None
29.39 47.00
as of 12/24/2008
1 Week down  -1.66 %
1 Month down  -5.65 %
3 Months up  18.78 %
1 YTD down  -34.49 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/29/2013 12:25 PM Buy
None
74.98 88.00
2/23/2012 11:25 AM Buy
None
65.65 82.00
7/19/2011 9:25 AM Buy
None
62.40 85.00
4/28/2011 9:25 AM Buy
None
53.39 70.00
10/29/2010 9:25 AM Buy
None
36.58 56.00
7/28/2010 11:25 AM Buy
None
37.84 68.00
2/25/2010 12:25 PM Buy
None
50.22 66.00
7/25/2008 9:25 AM Buy
None
53.16
2/28/2008 10:25 AM Hold
None
63.49 65.00
12/11/2007 9:25 AM Hold
None
46.84 44.00
10/26/2007 11:25 AM Hold
None
45.17 40.00

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