The stock of Range Resources Corp. (NYSE:RRC) is a huge mover today! About 1.58 million shares traded hands. Range Resources Corp. (NYSE:RRC) has declined 10.97% since April 13, 2016 and is downtrending. It has underperformed by 14.89% the S&P500.
The move comes after 6 months positive chart setup for the $9.10 billion company. It was reported on Nov, 15 by Barchart.com. We have $51.17 PT which if reached, will make NYSE:RRC worth $4.19B more.
Range Resources Corp. (NYSE:RRC) Ratings Coverage
Out of 27 analysts covering Range Resources Corp. (NYSE:RRC), 15 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 56% are positive. Range Resources Corp. has been the topic of 76 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Morgan Stanley initiated Range Resources Corp. (NYSE:RRC) on Tuesday, September 20 with “Equal-Weight” rating. KeyBanc Capital Markets downgraded Range Resources Corp. (NYSE:RRC) on Tuesday, April 26 to “Sector Perform” rating. On Thursday, July 14 the stock rating was upgraded by Imperial Capital to “Outperform”. The stock has “Outperform” rating given by Raymond James on Tuesday, May 17. The rating was maintained by Deutsche Bank with “Hold” on Tuesday, June 14. On Thursday, November 12 the stock rating was upgraded by RBC Capital Markets to “Outperform”. As per Monday, September 14, the company rating was maintained by Citigroup. The stock of Range Resources Corp. (NYSE:RRC) has “Sector Perform” rating given on Monday, December 14 by Howard Weil. Nomura downgraded Range Resources Corp. (NYSE:RRC) on Wednesday, June 8 to “Neutral” rating. The firm earned “Underweight” rating on Wednesday, September 28 by Barclays Capital.
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 2016 Q2. Its up 0.11, from 0.83 in 2016Q1. The ratio increased, 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.
Caisse De Depot Et Placement Du Quebec holds 33,535 shares or 0% of its portfolio. Advisory Research Incorporated holds 7,187 shares or 0.01% of its portfolio. Stanley reported 11,000 shares or 0.19% of all its holdings. Locust Wood Cap Advisers Ltd Llc reported 11,515 shares or 0.06% of all its holdings. Old Mutual Customised Solutions (Proprietary) Limited has 0.02% invested in the company for 1,900 shares. Proshare Advisors Limited has invested 0.02% of its portfolio in Range Resources Corp. (NYSE:RRC). Symphony Asset Mngmt Ltd Llc has 0.04% invested in the company for 8,481 shares. Blackrock Inv Mgmt Limited Liability Corporation accumulated 0.04% or 762,398 shares. Asset Mngmt accumulated 15,999 shares or 0.03% of the stock. The New York-based Tower Research Limited (Trc) has invested 0.01% in Range Resources Corp. (NYSE:RRC). Qs Ltd Llc last reported 2,320 shares in the company. Rafferty Asset Mgmt Ltd Co holds 0.02% or 6,070 shares in its portfolio. Signaturefd Ltd Liability Company has 0% invested in the company for 684 shares. Andra Ap reported 50,200 shares or 0.06% of all its holdings. First Personal Services has 0% invested in the company for 20 shares.
Insider Transactions: Since May 25, 2016, the stock had 1 buying transaction, and 6 insider sales for $3.58 million net activity. The insider STEPHENS CHAD L sold 30,562 shares worth $1.31M. 5,000 shares were sold by DUB ANTHONY V, worth $208,050. 25,090 shares with value of $1.08 million were sold by Walker Ray N JR on Wednesday, May 25. $37,000 worth of Range Resources Corp. (NYSE:RRC) shares were bought by Maxwell Gregory Gene. $384,506 worth of Range Resources Corp. (NYSE:RRC) was sold by Poole David P. MANNY ROGER S sold $126,162 worth of Range Resources Corp. (NYSE:RRC) on Wednesday, May 25.
Another recent and important Range Resources Corp. (NYSE:RRC) news was published by Forbes.com which published an article titled: “Range Resources Stock Getting Very Oversold” on October 26, 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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