The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Range Resources Corp shares valued at $930,750 were sold by Ginn Dori on Nov 03 ’23. At $37.23 per share, Ginn Dori sold 25,000 shares. The insider’s holdings dropped to 60,804 shares worth approximately $2.11 million following the completion of this transaction.
Also, Ginn Dori sold 25,000 shares, netting a total of over 933,750 in proceeds. Following the sale of shares at $37.35 each, the insider now holds 85,804 shares.
Before that, Spiller Reginal had sold 1,950 shares from its account. In a trade valued at $52,260, the Director traded Range Resources Corp shares for $26.80 each. Upon closing the transaction, the insider’s holdings decreased to 1,950 shares, worth approximately $0.58 million.
As published in a research note from Scotiabank on April 11, 2024, Range Resources Corp [RRC] has been rated down from a Sector outperform to a Sector perform and the price target has been revised to $45. Analysts at Barclays started covering the stock with ‘”an Underweight”‘ outlook in a report released in early April. As of January 11, 2024, The Benchmark Company has decreased its “Buy” rating to a “Hold” for RRC. Earlier on December 14, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for RRC stock which previously was a “an Overweight”.
Analyzing RRC Stock Performance
During the last five days, there has been a drop of approximately -3.47%. Over the course of the year, Range Resources Corp shares have jumped approximately 14.26%. Shares of the company reached a 52-week high of $37.11 on 04/12/24 and a 52-week low of $27.60 on 02/07/24. A 50-day SMA is recorded $32.71, while a 200-day SMA reached $31.95. Nevertheless, trading volume fell to 1.45 million shares from 1.82 million shares the previous day.
Support And Resistance Levels for Range Resources Corp (RRC)
According to the 24-hour chart, there is a support level at 34.60, which, if violated, would cause prices to drop to 34.43. In the upper region, resistance lies at 35.02. The next price resistance is at 35.27. RSI (Relative Strength Index) is 55.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 79.52%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
