J.P. Morgan Sticks to Its Sell Rating for Range Resources (RRC)
In a report released yesterday, Arun Jayaram from J.P. Morgan maintained a Sell rating on Range Resources, with a price target of $46.00. The company’s shares closed yesterday at $46.59.
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According to TipRanks, Jayaram is a 5-star analyst with an average return of 14.6% and a 63.29% success rate. Jayaram covers the Energy sector, focusing on stocks such as Conocophillips, Murphy Oil, and EQT.
The word on The Street in general, suggests a Hold analyst consensus rating for Range Resources with a $42.94 average price target.
Based on Range Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $787.26 million and a net profit of $179.09 million. In comparison, last year the company earned a revenue of $666.98 million and had a net profit of $94.84 million
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RRC in relation to earlier this year. Earlier this month, Margaret Dorman, a Director at RRC sold 12,500.00 shares for a total of $542,267.60.
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