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Range Resources Corporation (RRC) [hlAlert]

Rating:
Neutral RRC

Range Resources Corporation (RRC) rated Neutral with price target $55 by UBS

Posted on: Wednesday,  Apr 27, 2011  10:25 AM ET by UBS

Range Resources Corporation (NYSE:
RRC) rated Neutral with price target $55 by UBS.

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.

UBS is the leading global wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking. With headquarters in Zurich and Basel, Switzerland, UBS operates in over 50 countries and from all major international centers. UBS employs more than 80,000 people.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/27/2013 10:25 AM Hold
None
72.82 73.00
as of 12/30/2011
1 Week   
1 Month   
3 Months   
1 YTD   
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/27/2011 10:25 AM Hold
None
52.45 55.00
3/1/2011 9:25 AM Hold
None
51.75 54.00
1/25/2011 11:25 AM Hold
None
46.65 47.00
2/11/2010 8:25 AM Hold
None
47.77

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