Roan Resources (NYSE:ROAN) Downgraded by Zacks Investment Research

Roan Resources (NYSE:ROAN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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, ValuEngine raised Roan Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd.



ROAN opened at $1.50 on Thursday. The stock has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $1.34. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.48. The company has a market cap of $232.64 million and a price-to-earnings ratio of 1.63. Roan Resources has a 12-month low of $1.00 and a 12-month high of $18.75.

Roan Resources (NYSE:ROAN) last released its earnings results on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Roan Resources had a positive return on equity of 6.23% and a negative net margin of 34.06%. The firm had revenue of $134.17 million for the quarter, compared to analysts’ expectations of $108.18 million. On average, analysts predict that Roan Resources will post 0.47 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROAN. BlackRock Inc. grew its stake in shares of Roan Resources by 669.5% in the second quarter. BlackRock Inc. now owns 2,440,022 shares of the company’s stock worth $4,246,000 after acquiring an additional 2,122,922 shares during the last quarter. Raffles Associates LP grew its stake in shares of Roan Resources by 231.4% in the second quarter. Raffles Associates LP now owns 1,886,664 shares of the company’s stock worth $3,283,000 after acquiring an additional 1,317,380 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Roan Resources in the second quarter worth $1,362,000. JVL Advisors L.L.C. grew its stake in shares of Roan Resources by 1.9% in the second quarter. JVL Advisors L.L.C. now owns 41,125,056 shares of the company’s stock worth $71,558,000 after acquiring an additional 762,698 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Roan Resources by 1,668.9% in the second quarter. Morgan Stanley now owns 446,671 shares of the company’s stock worth $777,000 after acquiring an additional 421,419 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

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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