Worth Watching: Could Range Resources Corp. Change Direction After Today’s Huge Decline?

Worth Watching: Could Range Resources Corp. Change Direction After Today's Huge Decline?

The stock of Range Resources Corp. (NYSE:RRC) is a huge mover today! About 1.96M shares traded hands. Range Resources Corp. (NYSE:RRC) has risen 26.68% since March 11, 2016 and is uptrending. It has outperformed by 21.22% the S&P500.
The move comes after 7 months negative chart setup for the $6.81B company. It was reported on Oct, 14 by Barchart.com. We have $35.57 PT which if reached, will make NYSE:RRC worth $544.80M less.

Analysts await Range Resources Corp. (NYSE:RRC) to report earnings on October, 26. They expect $-0.18 EPS, down 260.00% or $0.13 from last year’s $-0.05 per share. After $-0.21 actual EPS reported by Range Resources Corp. for the previous quarter, Wall Street now forecasts -14.29% EPS growth.

Range Resources Corp. (NYSE:RRC) Ratings Coverage

Out of 26 analysts covering Range Resources Corp. (NYSE:RRC), 14 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 54% are positive. Range Resources Corp. has been the topic of 74 analyst reports since July 21, 2015 according to StockzIntelligence Inc. JP Morgan upgraded the shares of RRC in a report on Friday, October 7 to “Overweight” rating. Macquarie Research downgraded the shares of RRC in a report on Monday, March 21 to “Neutral” rating. Robert W. Baird downgraded it to “Neutral” rating and $31 target price in Thursday, March 10 report. Deutsche Bank maintained Range Resources Corp. (NYSE:RRC) on Tuesday, June 14 with “Hold” rating. JP Morgan maintained the shares of RRC in a report on Monday, May 2 with “Neutral” rating. Nomura downgraded it to “Neutral” rating and $45 target price in Wednesday, June 8 report. The stock has “Buy” rating given by Guggenheim on Monday, November 2. The firm has “Under Review” rating given on Monday, September 7 by Cantor Fitzgerald. Barclays Capital downgraded the stock to “Underweight” rating in Thursday, March 24 report. The stock has “Accumulate” rating given by KLR Group on Monday, May 2.

According to Zacks Investment Research, “Range Resources Corp. acquires, develops, and finances oil and gas properties in the U.S. They seek to build value primarily through lower-risk development drilling and acquisitions while to a lesser degree pursuing higher risk exploitation and exploration projects on their extensive inventory of undeveloped acreage. Through its wholly owned subsidiary, Independent Producer Finance, the company also provides financing to small oil and gas producers by purchasing term overriding royalty interests in their properties.”

Insitutional Activity: The institutional sentiment increased to 0.94 in Q2 2016. Its up 0.11, from 0.83 in 2016Q1. The ratio improved, as 44 funds sold all Range Resources Corp. shares owned while 147 reduced positions. 77 funds bought stakes while 102 increased positions. They now own 168.40 million shares or 10.07% less from 187.25 million shares in 2016Q1.
Amalgamated Natl Bank last reported 6,384 shares in the company. Blackrock Fund holds 3.05M shares or 0.03% of its portfolio. Phocas Fincl Corporation has 0.79% invested in the company for 250,185 shares. Davenport Comm Limited Liability holds 0% or 25,346 shares in its portfolio. Old Mutual Customised Solutions (Proprietary) owns 1,900 shares or 0.02% of their US portfolio. Creative Planning owns 1,117 shares or 0% of their US portfolio. Financial Bank Of The West holds 0.04% of its portfolio in Range Resources Corp. (NYSE:RRC) for 6,100 shares. Mason Hill Lc, a New York-based fund reported 253,012 shares. Moreover, Livforsakringsbolaget Skandia Omsesidigt has 0.03% invested in Range Resources Corp. (NYSE:RRC) for 17,990 shares. Pnc Financial Group Inc accumulated 0% or 32,712 shares. Aberdeen Asset Mngmt Public Ltd Uk owns 30,746 shares or 0% of their US portfolio. Korea Inv Corp, a Korea-based fund reported 348,856 shares. Ladenburg Thalmann Fincl Ser Incorporated owns 756 shares or 0% of their US portfolio. Hudson Bay Cap Mgmt Ltd Partnership accumulated 52,575 shares or 0.07% of the stock. Kbc Grp Nv last reported 10,141 shares in the company.

Insider Transactions: Since May 25, 2016, the stock had 1 insider buy, and 6 selling transactions for $3.58 million net activity. $208,050 worth of shares were sold by DUB ANTHONY V on Thursday, May 26. 2,934 shares were sold by MANNY ROGER S, worth $126,162. Maxwell Gregory Gene bought $37,000 worth of Range Resources Corp. (NYSE:RRC) on Tuesday, September 27. 8,942 shares were sold by Poole David P, worth $384,506 on Wednesday, May 25. Another trade for 25,090 shares valued at $1.08M was sold by Walker Ray N JR. $1.31M worth of Range Resources Corp. (NYSE:RRC) shares were sold by STEPHENS CHAD L.

Another recent and important Range Resources Corp. (NYSE:RRC) news was published by Nasdaq.com which published an article titled: “Agree To Purchase Range Resources Corp At $25, Earn 9.2% Using Options” on September 20, 2016.

RRC Company Profile

Range Resources Corporation, incorporated on March 26, 1980, is an independent natural gas, natural gas liquids (NGLs) and oil company. The Firm operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Firm is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.

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