Zacks Investment Research Lowers Roan Resources (ROAN) to Sell

Zacks Investment Research downgraded shares of Roan Resources (OTCMKTS:ROAN) from a hold rating to a sell rating in a report 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 initiated coverage on Roan Resources in a report on Thursday, April 4th. They set an outperform rating and a $10.00 target price on the stock.

OTCMKTS:ROAN opened at $2.62 on Thursday. Roan Resources has a 12-month low of $2.43 and a 12-month high of $19.45.

Roan Resources (OTCMKTS:ROAN) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.05). The firm had revenue of $14.90 million during the quarter, compared to analyst estimates of $114.68 million.

In other Roan Resources news, insider Tony Maranto bought 20,000 shares of Roan Resources stock in a transaction on Friday, March 22nd. The shares were purchased at an average cost of $6.08 per share, for a total transaction of $121,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Several institutional investors have recently modified their holdings of ROAN. Country Club Trust Company n.a. bought a new stake in shares of Roan Resources in the fourth quarter valued at about $1,676,000. Dean Capital Investments Management LLC bought a new stake in shares of Roan Resources in the fourth quarter valued at about $84,000. BlackRock Inc. bought a new stake in shares of Roan Resources in the fourth quarter valued at about $1,498,000. Bank of New York Mellon Corp bought a new stake in shares of Roan Resources in the fourth quarter valued at about $230,000. Finally, Diamond Hill Capital Management Inc. bought a new stake in shares of Roan Resources in the fourth quarter valued at about $2,993,000.

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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