Roan Resources (OTCMKTS:ROAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, 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 shares of Roan Resources in a report on Thursday, April 4th. They set an “outperform” rating and a $10.00 price objective on the stock.
Shares of OTCMKTS ROAN opened at $1.16 on Thursday. Roan Resources has a 1-year low of $1.02 and a 1-year high of $19.45.
Roan Resources (OTCMKTS:ROAN) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $114.68 million.
In related news, insider Tony Maranto acquired 20,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were purchased at an average price of $6.08 per share, for a total transaction of $121,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Several large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Roan Resources by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 127,826 shares of the company’s stock worth $782,000 after acquiring an additional 4,125 shares in the last quarter. Barclays PLC bought a new stake in shares of Roan Resources during the fourth quarter worth about $65,000. Parallel Advisors LLC bought a new stake in shares of Roan Resources during the first quarter worth about $57,000. Avalon Advisors LLC bought a new stake in shares of Roan Resources during the first quarter worth about $61,000. Finally, Dean Capital Investments Management LLC bought a new stake in shares of Roan Resources during the fourth quarter worth about $84,000.
About Roan Resources
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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