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Upgrade Alert for Range Resources (RRC)

By David Diaz

Range Resources (NYSE:RRC) was upgraded from Accumulate to Buy at KLR Group today. The stock closed yesterday at $40.75 on volume of 3.6 million shares, below average daily volume of 4.6 million.

Range Resources has overhead space with shares priced $40.75, or 14.8% below the average consensus analyst price target of $47.81. The stock should find initial support at its 50-day moving average (MA) of $34.22 and further support at its 200-day MA of $32.01.

Range Resources Corporation is an independent oil and gas company that explore, develops, and acquires oil and gas properties. The Company conducts operations primarily in the Southwestern, Appalachian and Gulf Coast regions of the United States.

In the past 52 weeks, Range Resources share prices have been bracketed by a low of $19.21 and a high of $65.53 and closed yesterday at $40.75, 112% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 4.6%.

SmarTrend is tracking the current trend status for Range Resources and will alert subscribers who have RRC in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades range resources

Ticker(s): RRC