Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Range Resources Corp shares valued at $56,468 were sold by Spiller Reginal on May 21 ’24. At $38.68 per share, Spiller Reginal sold 1,460 shares. The insider’s holdings dropped to 15,253 shares worth approximately $0.55 million following the completion of this transaction.
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Also, Degner Dennis sold 101,000 shares, netting a total of over 3,815,780 in proceeds. Following the sale of shares at $37.78 each, the insider now holds 198,154 shares.
Before that, Scucchi Mark had sold 49,569 shares from its account. In a trade valued at $1,829,592, the EVP & CFO traded Range Resources Corp shares for $36.91 each. Upon closing the transaction, the insider’s holdings decreased to 49,569 shares, worth approximately $3.44 million.
As published in a research note from RBC Capital Mkts on April 26, 2024, Range Resources Corp [RRC] has been rated down from an Outperform to a Sector perform and the price target has been revised to $39 from $36. Analysts at Scotiabank downgraded the stock from ‘”a Sector outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in mid April. As of April 10, 2024, Barclays has initiated its “an Underweight” rating for RRC. Earlier on January 11, 2024, The Benchmark Company downgraded its rating. Their new recommendation was “a Hold” for RRC stock which previously was a “a Buy”.
Analyzing RRC Stock Performance
During the last five days, there has been a drop of approximately -0.11%. Over the course of the year, Range Resources Corp shares have jumped approximately 19.38%. Shares of the company reached a 52-week high of $39.33 on 05/20/24 and a 52-week low of $27.60 on 02/07/24. A 50-day SMA is recorded $36.38, while a 200-day SMA reached $33.06. Nevertheless, trading volume fell to 1.55 million shares from 3.13 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 35.79, which, if violated, would cause prices to drop to 35.23. In the upper region, resistance lies at 36.97. The next price resistance is at 37.59. RSI (Relative Strength Index) is 48.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.42, which suggests the price will decrease in the coming days. Percent R is at 63.86%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
