Range Resources Corp. Can’t Burn Your Long Portfolio. Option Traders are Bullish

 Range Resources Corp. Can't Burn Your Long Portfolio. Option Traders are Bullish

In today’s session Range Resources Corp. (RRC) registered an unusually high (1,074) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious RRC increase. With 1,074 contracts traded and 69014 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: RRC170120C00040000 closed last at: $3.4 or 17.2% up. About 1.98M shares traded hands. Range Resources Corp. (NYSE:RRC) has risen 23.87% since March 14, 2016 and is uptrending. It has outperformed by 18.26% 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. Range Resources Corp. has been the topic of 74 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Friday, April 15 by Tudor Pickering. The stock has “Outperform” rating given by RBC Capital Markets on Friday, March 18. The firm earned “Neutral” rating on Friday, July 31 by Guggenheim. KLR Group downgraded the shares of RRC in a report on Monday, May 2 to “Accumulate” rating. The rating was maintained by Deutsche Bank with “Hold” on Friday, March 11. The stock of Range Resources Corp. (NYSE:RRC) has “Underweight” rating given on Wednesday, September 28 by Barclays Capital. Citigroup upgraded the shares of RRC in a report on Wednesday, November 4 to “Buy” rating. As per Monday, May 2, the company rating was maintained by JP Morgan. The rating was initiated by Drexel Hamilton with “Buy” on Thursday, February 18. The stock of Range Resources Corp. (NYSE:RRC) earned “Underweight” rating by Barclays Capital 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 is positive, 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.
Whittier Trust Of Nevada has invested 0.02% of its portfolio in Range Resources Corp. (NYSE:RRC). The Massachusetts-based S&Co Inc has invested 0.34% in Range Resources Corp. (NYSE:RRC). Bridgewater Associate L P holds 0.03% or 51,604 shares in its portfolio. Pointstate Cap Lp last reported 1.08% of its portfolio in the stock. Weiss Multi has 32,607 shares for 0.11% of their US portfolio. Us Retail Bank De holds 49,759 shares or 0.01% of its portfolio. Scout has invested 0.24% of its portfolio in Range Resources Corp. (NYSE:RRC). Geode Mngmt Ltd Limited Liability Company accumulated 1.49M shares or 0.03% of the stock. Nationwide Fund Advsrs accumulated 0.01% or 48,213 shares. Knott David M holds 0% of its portfolio in Range Resources Corp. (NYSE:RRC) for 285,000 shares. Amalgamated Bank & Trust holds 0.01% of its portfolio in Range Resources Corp. (NYSE:RRC) for 6,384 shares. Advisory Research holds 0.01% or 7,187 shares in its portfolio. Paloma Prtnrs Management Co holds 0.05% or 114,445 shares in its portfolio. Sandhill Prtnrs Llc accumulated 0.12% or 8,760 shares. Victory Management Inc, a Ohio-based fund reported 2,167 shares.

Insider Transactions: Since May 25, 2016, the stock had 1 buying transaction, and 6 sales for $3.58 million net activity. Poole David P sold $384,506 worth of stock or 8,942 shares. Walker Ray N JR had sold 25,090 shares worth $1.08M on Wednesday, May 25. Shares for $37,000 were bought by Maxwell Gregory Gene. DUB ANTHONY V had sold 5,000 shares worth $208,050. The insider MANNY ROGER S sold $126,162. The insider STEPHENS CHAD L sold $1.31M.

Range Resources Corporation is an independent natural gas, natural gas liquids and oil company. The company has a market cap of $6.08 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.

Another recent and important Range Resources Corp. (NYSE:RRC) news was published by Forbes.com which published an article titled: “Range Resources Stock Sees Short Interest Drop 49.8%” on October 14, 2016.

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