What Next for Range Resources Corp. Stock After Today’s Bullish Options Activity?

 What Next for Range Resources Corp. Stock After Today's Bullish Options Activity?

In today’s session Range Resources Corp. (RRC) registered an unusually high (811) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious RRC increase. With 811 contracts traded and 12014 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: RRC161216C00036000 closed last at: $2.3 or 35.3% up. About 2.52 million 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.

Analysts await Range Resources Corp. (NYSE:RRC) to report earnings on February, 23. They expect $-0.02 earnings per share, up 98.96% or $1.91 from last year’s $-1.93 per share. After $-0.23 actual earnings per share 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 stock has “Sector Perform” rating given by KeyBanc Capital Markets on Tuesday, April 26. The stock has “Underweight” rating given by Barclays Capital on Monday, May 2. The firm earned “Buy” rating on Monday, November 2 by Guggenheim. The stock of Range Resources Corp. (NYSE:RRC) has “Sector Perform” rating given on Thursday, July 30 by RBC Capital Markets. The stock has “Buy” rating given by Stifel Nicolaus on Friday, July 8. Citigroup upgraded Range Resources Corp. (NYSE:RRC) on Wednesday, November 4 to “Buy” rating. On Tuesday, March 22 the stock rating was downgraded by Raymond James to “Market Perform”. BMO Capital Markets downgraded Range Resources Corp. (NYSE:RRC) on Friday, July 29 to “Market Perform” rating. The rating was maintained by Barclays Capital with “Overweight” on Monday, August 3. The firm has “Equal-Weight” rating given on Tuesday, September 20 by Morgan Stanley.

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 2016 Q2. Its up 1.07, from 0.94 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.
Citigroup Inc holds 26,359 shares or 0% of its portfolio. Eaton Vance Mngmt has 21,740 shares for 0% of their US portfolio. Virginia Retirement Et Al accumulated 0% or 7,200 shares. Ws Lllp last reported 437,800 shares in the company. Point72 Asia (Hong Kong) holds 2,300 shares or 0.11% of its portfolio. Dimensional Fund Advsrs Lp, a Texas-based fund reported 1.40 million shares. The Virgin Islands – British-based Shanda Asset Mgmt Hldgs Limited has invested 0.48% in Range Resources Corp. (NYSE:RRC). Henderson Public Limited Co has invested 0.01% of its portfolio in Range Resources Corp. (NYSE:RRC). Miller Howard Ny holds 0.14% or 186,575 shares in its portfolio. Veritable Lp last reported 7,933 shares in the company. Northern Trust Corp accumulated 1.82M shares or 0.03% of the stock. The New York-based New York State Common Retirement Fund has invested 0.03% in Range Resources Corp. (NYSE:RRC). California Pub Employees Retirement holds 0.02% or 357,300 shares in its portfolio. Great Lakes Advsrs Ltd Liability Corp accumulated 12,166 shares or 0.01% of the stock. Jacobus Wealth Mngmt accumulated 3,200 shares or 0.04% of the stock.

Insider Transactions: Since September 19, 2016, the stock had 1 buying transaction, and 1 sale for $464,028 net activity. Shares for $501,028 were sold by Walker Ray N JR on Monday, September 19. The insider Maxwell Gregory Gene bought $37,000.

Range Resources Corporation is an independent natural gas, natural gas liquids and oil company. The company has a market cap of $9.04 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.

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