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

Rating:
Hold RRC

Range Resources Corporation (RRC) rated Hold with price target $59 by Canaccord Genuity

Posted on: Tuesday,  Jan 31, 2012  8:25 AM ET by Canaccord Genuity

Range Resources Corporation (NYSE: RRC)
rated Hold with price target $59 by Canaccord Genuity.

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.

Canaccord Genuity’s global team of over 100 research professionals are inquisitive, experienced and committed to generating actionable investment ideas. We analyze over 725 companies in a broad range of market sectors, identifying value and defining risk for our clients.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
5/5/2015 10:25 AM Buy
None
64.01 70.00
as of 12/31/2012
1 Week   
1 Month   
3 Months   
1 YTD   
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/26/2015 12:25 PM Buy
None
51.65 65.00
1/31/2012 8:25 AM Hold
None
57.79 59.00
1/11/2011 11:25 AM Hold
None
48.00

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