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

down 5.93 %

Range Resources Corporation (RRC) rated Outperform with price target $45 by Friedman Billings

Posted on: Thursday,  Dec 18, 2008  8:25 AM ET by Friedman Billings

Friedman Billings rated Outperform Range Resources Corporation (NYSE: RRC) on 12/18/2008. Previously Friedman Billings rated Buy Range Resources Corporation (NYSE: RRC) on
11/29/2007., when the stock price was $40.41. Since then, Range Resources Corporation has lost 5.94% as of 01/28/2016's recent price of $38.01.
If you would have followed the previous Friedman Billings's recommendation on RRC, you would have lost 5.93% of your investment in 2982 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 Markets is a full service investment banking, institutional sales, trading and research and asset management firm with a customer-focused and innovative approach to meeting its clients needs. It focuses its banking, advisory, trading and research efforts on seven broad industry sectors including consumer, diversified industrials, energy & natural resources, financial institutions, insurance, real estate and technology, media & telecom. With our headquarters in the Washington, D.C. metropolitan area, our Economic and Washington Policy Analysis groups offer clients a comprehensive overview of national economic trends along with a unique perspective on the impact that legislation and regulation will have on industry sectors and individual companies
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/18/2008 8:25 AM Buy
34.95 45.00
as of 12/24/2008
1 Week down  -1.66 %
1 Month down  -5.65 %
3 Months up  18.78 %
1 YTD down  -31.68 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/25/2008 8:25 AM Buy
66.98 80.00
2/28/2008 8:25 AM Buy
62.42 70.00
1/30/2008 1:25 PM Buy
51.85 60.00
11/29/2007 9:25 AM Buy
40.41 48.00
10/24/2007 9:25 AM Hold

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