Range Resources Corporation (RRC) lost ground during morning trading on November 8 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector halfway through the trading day. At the lunch break, shares of RRC have fallen 4.08% to $32.25 after closing the day prior at $33.62. So far, the stock has traded as high as $33.4 and as low as $32.02. Today's decline has come with about 2.28 million shares changing hands, compared to an average 30-day volume of 4.56 million for Range Resources Corporation. The price is currently below the 30-day volume weighted average price of $32.34 for RRC.
The share depreciation gives the company a market capitalization of $8.31 billion based upon 247.15 million shares outstanding. It also means that RRC has a price-to-book ratio of 1.52:1.
In the past 52 weeks, shares of RRC have traded as low as $19.21 and as high as $46.96. Technical traders will take note that at $32.25, shares of RRC are trading below their 200-day MA at $37.44 and below their 50-day MA at $37.93. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is RRC?
Range Resources Corp is a Texas-based independent natural gas, natural gas liquids and oil company. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties in the Appalachian region of the United States. The company’s 744 employees are led by CEO Jeffrey L. Ventura from the corporate headquarters at 100 Throckmorton Street in Fort Worth, TX.
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Source: Financial Press News
(November 8, 2016 - 2:59 PM EST)
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