In a filing, Range Resources Corp revealed its SVP, Principal Accting Officer Ginn Dori unloaded Company’s shares for reported $0.93 million on Nov 03 ’23. In the deal valued at $37.23 per share,25,000 shares were sold. As a result of this transaction, Ginn Dori now holds 60,804 shares worth roughly $2.18 million.
Then, Ginn Dori sold 25,000 shares, generating $933,750 in total proceeds. Upon selling the shares at $37.35, the SVP, Principal Accting Officer now owns 85,804 shares.
Before that, Spiller Reginal sold 1,950 shares. Range Resources Corp shares valued at $52,260 were divested by the Director at a price of $26.80 per share. As a result of the transaction, Spiller Reginal now holds 16,713 shares, worth roughly $0.6 million.
The Benchmark Company downgraded its Range Resources Corp [RRC] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in mid December from “an Overweight” to “an Equal weight”. JP Morgan also remained covering RRC and has decreased its forecast on December 06, 2023 with a “an Underweight” recommendation from previously “Neutral” rating. Raymond James revised its rating on October 24, 2023. It rated RRC as “an Outperform” which previously was an “a Mkt perform”.
Price Performance Review of RRC
On Monday, Range Resources Corp [NYSE:RRC] saw its stock jump 2.34% to $35.85. Over the last five days, the stock has gained 2.99%. Range Resources Corp shares have risen nearly 17.77% since the year began. Nevertheless, the stocks have risen 32.68% over the past one year. While a 52-week high of $37.88 was reached on 04/08/24, a 52-week low of $23.92 was recorded on 02/07/24. SMA at 50 days reached $31.68, while 200 days put it at $31.68. A total of 1.59 million shares were traded, compared to the trading of 0.73 million shares in the previous session.
Levels Of Support And Resistance For RRC Stock
The 24-hour chart illustrates a support level at 35.30, which if violated will result in even more drops to 34.75. On the upside, there is a resistance level at 36.17. A further resistance level may holdings at 36.49. The Relative Strength Index (RSI) on the 14-day chart is 78.20, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.19, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.31%. Stochastics %K at 92.31% indicates the stock is a selling.
How much short interest is there in Range Resources Corp?
A steep rise in short interest was recorded in Range Resources Corp stocks on Mar 15, 2024, dropping by -0.48 million shares to a total of 16.92 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 17.4 million shares. There was a decline of -2.84%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 10.65% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.6.
The most recent change occurred on October 11, 2023 when Bernstein began covering the stock and recommended ‘”a Mkt perform”‘ rating along with a $32 price target.
