Range Resources Corporation
Range Resources Corporation (RRC), an American petroleum and natural gas exploration and production company, was the S&P 500’s second-best performer on December 28, 2017.
Range Resources broke its two-week losing streak last week, and it started this week on a stronger note. On December 28, Range Resources opened the day higher and surged to three-week-high price levels. Buying pressure increased on December 28 amid strong movements in natural gas and crude oil. On December 28, Range Resources rose 3.8% and closed the day at $17.61, its highest daily close since December 4. The S&P 500 energy sector rose 0.09% on the same day.
EQT Corporation (EQT), a petroleum and natural gas exploration and pipeline company, was among the S&P 500’s top gainers on December 28. After falling for three weeks, EQT Corporation regained stability this week.
In addition to support from the upward movements of oil and natural gas on December 28, a fall in short interest also added strength to EQT Corporation. According to the data released by the Financial Industry Regulatory Authority (FINRA), short interest in EQT Corporation fell 52.8% in December.
On December 28, EQT Corporation rose 3.5% and closed the day at $57.26. In the next part of this series, we’ll discuss the performances of the S&P 500’s top losers on December 28.