Is Range Resources Corp.’s Fuel For Real? The Stock Was Bought By Option Traders

 Is Range Resources Corp.'s Fuel For Real? The Stock Was Bought By Option Traders

In today’s session Range Resources Corp. (RRC) registered an unusually high (751) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious RRC increase. With 751 contracts traded and 21314 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: RRC161021C00040000 closed last at: $0.95 or 9.5% down. About 1.11M shares traded hands. Range Resources Corp. (NYSE:RRC) has risen 18.97% since March 4, 2016 and is uptrending. It has outperformed by 10.93% the S&P500.

Analysts await Range Resources Corp. (NYSE:RRC) to report earnings on October, 26. They expect $-0.18 earnings per share, down 260.00% or $0.13 from last year’s $-0.05 per share. After $-0.21 actual earnings per share 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. $65 is the highest target while $24 is the lowest. The $45.09 average target is 14.94% above today’s ($39.23) stock price. Range Resources Corp. has been the topic of 74 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Monday, December 14 by Howard Weil. As per Wednesday, December 9, the company rating was initiated by JP Morgan. The firm earned “Outperform” rating on Thursday, November 12 by RBC Capital Markets. The stock has “Overweight” rating given by Barclays Capital on Monday, August 3. RBC Capital Markets maintained Range Resources Corp. (NYSE:RRC) on Thursday, July 30 with “Sector Perform” rating. The stock has “Underweight” rating given by Barclays Capital on Wednesday, September 28. As per Monday, May 2, the company rating was maintained by JP Morgan. The rating was downgraded by Tudor Pickering on Friday, April 15 to “Hold”. The stock of Range Resources Corp. (NYSE:RRC) has “Outperform” rating given on Thursday, July 14 by Imperial Capital. The company was downgraded on Thursday, January 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.
Jennison Assocs Limited Liability Com holds 0.05% of its portfolio in Range Resources Corp. (NYSE:RRC) for 1.13 million shares. The Colorado-based Cetera Advsr Limited Liability Co has invested 0.04% in Range Resources Corp. (NYSE:RRC). Earnest Prns Limited Company has 255,496 shares for 0.12% of their US portfolio. Gotham Asset Management Limited Liability Com has invested 0.01% of its portfolio in Range Resources Corp. (NYSE:RRC). Susquehanna Llp reported 588,336 shares or 0.01% of all its holdings. Moreover, Shinko Asset has 0% invested in Range Resources Corp. (NYSE:RRC) for 524 shares. Kcg Hldg Inc, a New Jersey-based fund reported 27,112 shares. Blackstone Grp Incorporated L P has invested 0.12% of its portfolio in Range Resources Corp. (NYSE:RRC). Dnb Asset Mgmt As has 10,720 shares for 0% of their US portfolio. Tci Wealth Advisors, a Arizona-based fund reported 152 shares. Southport Mngmt Limited Liability Company has 20,000 shares for 1.73% of their US portfolio. Stephens Inc Ar has 4,049 shares for 0.01% of their US portfolio. Moreover, Driehaus Mngmt Limited Liability Com has 0.01% invested in Range Resources Corp. (NYSE:RRC) for 4,931 shares. Manufacturers Life Insur The last reported 436,527 shares in the company. Janus Cap Mgmt Limited has 148,998 shares for 0.01% of their US portfolio.

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

Range Resources Corporation is an independent natural gas, natural gas liquids and oil company. The company has a market cap of $6.58 billion. The Firm operates through the exploration and production of natural gas, NGLs and oil in the United States segment. It currently has negative earnings. 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.

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.

More news for Range Resources Corp. (NYSE:RRC) were recently published by: Nasdaq.com, which released: “Agree To Purchase Range Resources Corp At $25, Earn 9.2% Using Options” on September 20, 2016. Nasdaq.com‘s article titled: “Range Resources Poised for Growth Despite Higher Expenses” and published on October 03, 2016 is yet another important article.

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