Range Resources ( (RRC) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Range Resources shares are under pressure even as traders brace for the April 21 earnings report and weigh recent geopolitical risks in the energy market. Concerns that earlier optimism went too far, along with choppy sentiment in natural gas names, are prompting some investors to lock in profits and step to the sidelines.
Adding to the cautious mood, Citigroup has trimmed its price target on the stock, signaling a cooler outlook from the Wall Street firm. That cut comes despite a prior 12% upward revision in consensus profit estimates and earlier signs of a bullish technical setup, which had helped fuel the recent rally.
More about Range Resources
YTD Price Performance: 15.66%
Average Trading Volume: 3,524,450
Technical Sentiment Signal: Strong Buy
Current Market Cap: $9.86B
For further insights into RRC stock on TipRanks’ Stock Analysis page.
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