Roan Resources (ROAN) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Roan Resources (OTCMKTS:ROAN) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Roan Resources Inc. is an oil and natural gas company. It focused on the development, exploration and acquisition of unconventional oil and natural gas reserves in the Merge, SCOOP and STACK plays of the Anadarko Basin in Oklahoma. Roan Resources Inc. is headquartered in Oklahoma City. “

Separately, Imperial Capital assumed coverage on Roan Resources in a research report on Thursday, April 4th. They set an outperform rating and a $10.00 price objective on the stock.

Roan Resources stock opened at $4.19 on Wednesday. Roan Resources has a fifty-two week low of $3.66 and a fifty-two week high of $19.82.

Roan Resources (OTCMKTS:ROAN) last posted its quarterly earnings data on Monday, March 18th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). The business had revenue of $307.05 million during the quarter, compared to analyst estimates of $143.00 million.

In other news, insider Tony Maranto acquired 20,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were acquired at an average cost of $6.08 per share, with a total value of $121,600.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Several institutional investors and hedge funds have recently modified their holdings of the company. Marble Ridge Capital LP bought a new stake in shares of Roan Resources in the 4th quarter worth approximately $19,738,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Roan Resources in the 4th quarter worth approximately $2,993,000. Country Club Trust Company n.a. bought a new stake in shares of Roan Resources in the 4th quarter worth approximately $1,676,000. Lasry Marc bought a new stake in shares of Roan Resources in the 4th quarter worth approximately $13,204,000. Finally, Canyon Capital Advisors LLC bought a new stake in shares of Roan Resources in the 4th quarter worth approximately $17,005,000.

Roan Resources Company Profile

Linn Energy, Inc, through its equity interest in Roan Resources LLC, engages in the acquisition, exploration, and development of unconventional oil and natural gas reserves. It holds interests in various assets that cover approximately 150,000 net acres located in Merge, SCOOP, and STACK plays of the Anadarko Basin in Oklahoma.

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