Bullish Options Activity on Range Resources Corp. Surges After Better Fundamentals

 Bullish Options Activity on Range Resources Corp. Surges After Better Fundamentals

In today’s session Range Resources Corp. (RRC) registered an unusually high (2,176) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious RRC increase. With 2,176 contracts traded and 19424 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: RRC161118C00035000 closed last at: $0.4 or 33.3% up. About 62 shares traded hands. Range Resources Corp. (NYSE:RRC) has risen 1.20% since April 5, 2016 and is uptrending. It has underperformed by 0.76% the S&P500.

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. $65 is the highest target while $24 is the lowest. The $44.86 average target is 34.55% above today’s ($33.34) stock price. Range Resources Corp. has been the topic of 76 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Monday, October 31 the stock rating was upgraded by Goldman Sachs to “Buy”. Zacks upgraded the shares of RRC in a report on Friday, August 28 to “Sell” rating. On Wednesday, August 19 the stock rating was maintained by Oppenheimer with “Hold”. As per Wednesday, December 9, the company rating was initiated by JP Morgan. Barclays Capital downgraded the stock to “Equal Weight” rating in Thursday, January 28 report. The rating was initiated by Morgan Stanley on Tuesday, September 20 with “Equal-Weight”. The rating was upgraded by RBC Capital Markets on Thursday, November 12 to “Outperform”. The rating was initiated by Barclays Capital on Wednesday, September 28 with “Underweight”. The stock of Range Resources Corp. (NYSE:RRC) has “Market Perform” rating given on Tuesday, March 22 by Raymond James. The firm earned “Underweight” rating on Thursday, March 24 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 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.
Herndon Mngmt Limited Co holds 0% of its portfolio in Range Resources Corp. (NYSE:RRC) for 16 shares. The United Kingdom-based Lmr Prns Ltd Liability Partnership has invested 0.06% in Range Resources Corp. (NYSE:RRC). Oakbrook Invests Ltd Liability accumulated 0.03% or 11,350 shares. Stifel owns 48,618 shares or 0.01% of their US portfolio. Oarsman Capital accumulated 63,495 shares or 1.42% of the stock. Glenmede Tru Communications Na accumulated 4,850 shares or 0% of the stock. Babson Ltd last reported 8,398 shares in the company. Invesco Ltd has 0.02% invested in the company for 1.31M shares. National Bank Of New York Mellon Corporation has 1.51M shares for 0.02% of their US portfolio. Grt Prtn Lc accumulated 0.22% or 20,157 shares. Williams Jones And Assoc Lc holds 0.02% of its portfolio in Range Resources Corp. (NYSE:RRC) for 8,070 shares. Tnb Finance reported 44,346 shares or 0.5% of all its holdings. British Columbia Invest Management Corp owns 98,990 shares or 0.04% of their US portfolio. Moreover, Cornerstone Inc has 0.01% invested in Range Resources Corp. (NYSE:RRC) for 172 shares. Moreover, Public Employees Retirement Association Of Colorado has 0.01% invested in Range Resources Corp. (NYSE:RRC) for 37,957 shares.

Insider Transactions: Since May 25, 2016, the stock had 1 insider buy, and 6 sales for $3.58 million net activity. Shares for $501,028 were sold by Walker Ray N JR. On Thursday, May 26 DUB ANTHONY V sold $208,050 worth of the stock or 5,000 shares. MANNY ROGER S had sold 2,934 shares worth $126,162. Another trade for 30,562 shares valued at $1.31 million was sold by STEPHENS CHAD L. Shares for $384,506 were sold by Poole David P on Wednesday, May 25. 1,000 Range Resources Corp. (NYSE:RRC) shares with value of $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 $8.07 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: Forbes.com, which released: “Range Resources Stock Getting Very Oversold” on October 26, 2016. Forbes.com‘s article titled: “Range Resources Stock Sees Short Interest Drop 49.8%” and published on October 14, 2016 is yet another important article.

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