Range Resources is essentially a highly leveraged play on the Marcellus and natural gas prices.
We are initiating coverage of Range Resources with a fair value estimate of $21 per share and a no-moat rating. With most of its assets in the Marcellus Shale and a considerable amount of debt on the balance sheet, Range is essentially a highly leveraged play on U.S. natural gas prices. The stock has been beaten down in the last year, with shares down roughly 40%. And although our fair value is slightly above the stock’s current trading price of about $17.50 per share, we think the breadth of po...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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