The stock of Range Resources Corp. (NYSE:RRC) is a huge mover today! About 881,723 shares traded hands. Range Resources Corp. (NYSE:RRC) has declined 6.97% since April 25, 2016 and is downtrending. It has underperformed by 12.99% the S&P500.
The move comes after 7 months positive chart setup for the $9.02 billion company. It was reported on Nov, 28 by Barchart.com. We have $39.58 PT which if reached, will make NYSE:RRC worth $631.40 million more.
Analysts await Range Resources Corp. (NYSE:RRC) to report earnings on February, 23. They expect $-0.02 EPS, up 98.96% or $1.91 from last year’s $-1.93 per share. After $-0.23 actual EPS reported by Range Resources Corp. for the previous quarter, Wall Street now forecasts -91.30% EPS growth.
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. The company was maintained on Monday, May 2 by JP Morgan. The rating was maintained by Barclays Capital on Monday, May 2 with “Underweight”. As per Friday, July 8, the company rating was upgraded by Stifel Nicolaus. As per Friday, August 28, the company rating was upgraded by Zacks. The rating was downgraded by Howard Weil on Monday, December 14 to “Sector Perform”. As per Tuesday, September 20, the company rating was initiated by Morgan Stanley. BMO Capital Markets downgraded the stock to “Market Perform” rating in Friday, July 29 report. On Thursday, November 12 the stock rating was upgraded by RBC Capital Markets to “Outperform”. The firm earned “Hold” rating on Friday, April 15 by Tudor Pickering. The stock of Range Resources Corp. (NYSE:RRC) has “Neutral” rating given on Friday, July 31 by Guggenheim.
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 2.01 in Q2 2016. Its up 1.07, from 0.94 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.
Bnp Paribas Arbitrage Sa holds 0.01% of its portfolio in Range Resources Corp. (NYSE:RRC) for 29,570 shares. Raymond James And Associates has 58,073 shares for 0.01% of their US portfolio. Tiaa Cref Investment Management Lc reported 937,517 shares or 0.03% of all its holdings. Comerica Comml Bank holds 0.02% or 48,706 shares in its portfolio. Jefferies Gru Ltd Liability Co holds 0% of its portfolio in Range Resources Corp. (NYSE:RRC) for 17,860 shares. Advsr Asset Mngmt accumulated 38,612 shares or 0.03% of the stock. Brown Brothers Harriman & has 0% invested in the company for 2,000 shares. Norinchukin Fincl Bank The accumulated 8,904 shares or 0.01% of the stock. Moreover, State Of Wisconsin Invest Board has 0.02% invested in Range Resources Corp. (NYSE:RRC) for 87,443 shares. Dimensional Fund Advsrs L P holds 0.03% or 1.40 million shares in its portfolio. Highlander Capital Mngmt Ltd holds 0.08% of its portfolio in Range Resources Corp. (NYSE:RRC) for 2,000 shares. Manning Napier Advsrs Llc reported 5.16 million shares or 1.35% of all its holdings. Hanlon Inv Management holds 0.42% of its portfolio in Range Resources Corp. (NYSE:RRC) for 113,082 shares. The Ohio-based Victory Capital Management has invested 0% in Range Resources Corp. (NYSE:RRC). Grt Capital Prtnrs Llc holds 0.22% or 20,157 shares in its portfolio.
Insider Transactions: Since September 19, 2016, the stock had 1 insider purchase, and 1 insider sale for $464,028 net activity. Walker Ray N JR had sold 13,350 shares worth $501,028 on Monday, September 19. Maxwell Gregory Gene bought $37,000 worth of stock.
Another recent and important Range Resources Corp. (NYSE:RRC) news was published by Seekingalpha.com which published an article titled: “Range Resources – Making Lemonade In A Down Natural Gas Market” on November 22, 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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