Short Interest in Range Resources Corp. (RRC) Expands By 37.7%

Range Resources Corp. (NYSE:RRC) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 42,459,713 shares, a growth of 37.7% from the January 12th total of 30,831,593 shares. Approximately 17.3% of the company’s shares are sold short. Based on an average trading volume of 12,177,049 shares, the days-to-cover ratio is presently 3.5 days.

In other Range Resources news, VP David P. Poole sold 30,920 shares of Range Resources stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total value of $505,851.20. Following the transaction, the vice president now owns 17,647 shares of the company’s stock, valued at $288,704.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Roger S. Manny sold 10,757 shares of Range Resources stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $16.42, for a total transaction of $176,629.94. Following the completion of the transaction, the chief financial officer now directly owns 143,703 shares in the company, valued at approximately $2,359,603.26. The disclosure for this sale can be found here. Insiders have sold a total of 44,574 shares of company stock worth $729,007 in the last three months. 2.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of RRC. Ameritas Investment Partners Inc. increased its holdings in Range Resources by 1.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock worth $117,000 after buying an additional 64 shares during the last quarter. MHI Funds LLC acquired a new position in Range Resources during the fourth quarter worth $122,000. Jolley Asset Management LLC acquired a new position in Range Resources during the fourth quarter worth $125,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Range Resources during the fourth quarter worth $192,000. Finally, Westwood Holdings Group Inc. increased its holdings in Range Resources by 240.4% during the second quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock worth $205,000 after buying an additional 6,250 shares during the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.

RRC has been the topic of a number of research reports. KeyCorp reaffirmed a “hold” rating on shares of Range Resources in a research note on Monday, November 13th. Bank of America cut their price target on shares of Range Resources from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Scotiabank set a $27.00 price target on shares of Range Resources and gave the company a “buy” rating in a research note on Saturday, November 25th. Royal Bank of Canada cut their price objective on shares of Range Resources to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. Finally, Piper Jaffray Companies set a $35.00 price objective on shares of Range Resources and gave the stock a “buy” rating in a research report on Thursday, October 19th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $25.59.

Range Resources (NYSE:RRC) opened at $12.71 on Monday. The firm has a market cap of $3,150.00, a price-to-earnings ratio of -60.52, a P/E/G ratio of 0.78 and a beta of 0.68. Range Resources has a fifty-two week low of $11.93 and a fifty-two week high of $34.09. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.72.

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About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

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