Range Announces First Quarter 2016 Results
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Imperial Capital Raises Price Target on Range Resources (RRC) as Lower Costs Show Impact
May 2, 2016 7:03 AM EDTImperial Capital reiterated an In-Line rating on Range Resources (NYSE: RRC), and raised the price target to $45.00 (from $23.00), following the company's 1Q. Imperial believes that the recent run up in the shares has been in sympathy with the oil markets, but crude oil is only 4% of RRCs production mix.The company recorded direct LOE/mcfe of $0.19/mcfe, marking a
year-over-year reduction of 37% and a... More
