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Range Resources (RRC) Stock Price Target Lowered at Jefferies

NEW YORK (TheStreet) -- Range Resources' (RRC - Get Report) price target was lowered to $54 from $59 at Jefferies on Thursday.

Jefferies maintained its "buy" rating on the stock.

The firm lowered its earnings estimates on Range Resources to 6 cents per share from 7 cents per share for the third quarter. The firm also widened its 2016 expectations to a loss of 52 cents per share compared to its previous expectations of a loss of 43 cents per share.

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"We think producers are likely to generally 'meet' consensus on oil volumes and slightly 'beat' on gas volumes," the firm said of the E&P sector. "But we think producers will point to falling 4Q15 oil volumes on activity declines."

The Fort Worth, TX-based oil and gas production company operates primarily in the Appalachian and Midcontinent regions of the U.S.

Shares of Range Resources were up 3.36% to $32.18 in mid-afternoon trading on Thursday.

Separately, TheStreet Ratings team rates RANGE RESOURCES CORP as a Hold with a ratings score of C...