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

Rating:
Hold RRC
up 7.60 %

Range Resources Corporation (RRC) downgraded to Hold by Dahlman Rose

Posted on: Thursday,  Jul 30, 2009  9:25 AM ET by Dahlman Rose

Dahlman Rose rated Hold Range Resources Corporation (NYSE: RRC) on 07/30/2009. Previously Dahlman Rose rated Buy Range Resources Corporation (NYSE: RRC) on
03/19/2009., when the stock price was $42.48. Since then, Range Resources Corporation has gained 7.60% as of 07/30/2009's recent price of $45.71.
If you would have followed the previous Dahlman Rose's recommendation on RRC, you would have gained 7.6% of your investment in 133 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.

Since the Firm’s inception, the Dahlman Rose Research team has been dedicated to providing our institutional client base with differentiated research calls and actionable investment ideas.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/30/2009 9:25 AM Hold
None
45.71
as of 12/31/2009
1 Week   
1 Month   
3 Months   
1 YTD up  7.60 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/19/2009 10:25 AM Buy
None
42.48

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