Stock of The Day: Is Selling Stock Like Range Resources Corp. After Such Decline Winning Strategy?

Stock of The Day: Is Selling Stock Like Range Resources Corp. After Such Decline Winning Strategy?

The stock of Range Resources Corp. (NYSE:RRC) is a huge mover today! About 3.76M shares traded hands. Range Resources Corp. (NYSE:RRC) has risen 5.79% since April 6, 2016 and is uptrending. It has outperformed by 3.83% the S&P500.
The move comes after 6 months negative chart setup for the $8.34B company. It was reported on Nov, 8 by Barchart.com. We have $29.25 PT which if reached, will make NYSE:RRC worth $750.60M less.

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. Barclays Capital downgraded Range Resources Corp. (NYSE:RRC) rating on Thursday, January 28. Barclays Capital has “Equal Weight” rating and $25 price target. The firm has “Outperform” rating by RBC Capital Markets given on Monday, May 2. The firm has “Neutral” rating by JP Morgan given on Wednesday, December 9. The stock has “Buy” rating given by Drexel Hamilton on Thursday, February 18. As per Thursday, March 24, the company rating was downgraded by Barclays Capital. The firm has “Underweight” rating given on Wednesday, September 28 by Barclays Capital. The company was downgraded on Tuesday, April 26 by KeyBanc Capital Markets. The rating was downgraded by KLR Group on Monday, May 2 to “Accumulate”. Nomura downgraded the shares of RRC in a report on Wednesday, June 8 to “Neutral” rating. The stock of Range Resources Corp. (NYSE:RRC) has “Hold” rating given on Wednesday, August 19 by Oppenheimer.

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 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.
World Asset Management owns 15,999 shares or 0.03% of their US portfolio. Proshare Advsrs Limited Liability last reported 29,657 shares in the company. Engineers Gate Manager Limited Partnership accumulated 0.24% or 78,695 shares. Grp Incorporated One Trading Lp accumulated 92,380 shares or 0.05% of the stock. Nokota Limited Partnership last reported 273,600 shares in the company. The Wisconsin-based Jacobus Wealth Mngmt Inc has invested 0.04% in Range Resources Corp. (NYSE:RRC). Schroder Management Gru accumulated 0.05% or 581,956 shares. The New York-based Sanders Cap Lc has invested 5.21% in Range Resources Corp. (NYSE:RRC). Credit Suisse Ag accumulated 0.03% or 523,558 shares. Moreover, Next Fincl Grp has 0% invested in Range Resources Corp. (NYSE:RRC) for 25 shares. Van Eck Corporation owns 12,557 shares or 0% of their US portfolio. Cap Global Invsts holds 0.17% or 11.85M shares in its portfolio. Scotia Cap last reported 21,087 shares in the company. Stelliam Investment Mgmt L P accumulated 3.57% or 2.40M shares. Tortoise Advsr Ltd Company has 203,904 shares for 0.06% of their US portfolio.

Insider Transactions: Since May 25, 2016, the stock had 1 insider buy, and 6 sales for $3.58 million net activity. On Wednesday, May 25 the insider MANNY ROGER S sold $126,162. On Wednesday, May 25 STEPHENS CHAD L sold $1.31 million worth of the stock or 30,562 shares. Another trade for 13,350 shares valued at $501,028 was made by Walker Ray N JR on Monday, September 19. Poole David P sold $384,506 worth of stock. Maxwell Gregory Gene had bought 1,000 shares worth $37,000. 5,000 shares with value of $208,050 were sold by DUB ANTHONY V on Thursday, May 26.

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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