Below is a brief note from CEO Keith McCullough on why we're adding Range Resources (RRC) to the long side of Investing Ideas today:
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Looking to buy something on red? Want more exposure to our US #InflationAccelerating Macro Theme? How about our Bullish @Hedgeye TREND view on Natural Gas? Al Richards and Jesse Root added Range Resources (RRC) to our Best Ideas list (Institutional Research Product) this week. Here's an excerpt from their research note: "With the stock off 80% from the 2014 highs and short interest hovering around ~22%, the market is punitively discounting the corporate governance and macro risks while overlooking the opportunity. At the current price of $15/share, we believe that RRC is pricing in ~$2.50 Henry Hub and ~$55 WTI versus the 12-month strips at $2.85 Henry Hub and $70 WTI." Buy things on sale. Life is better that way, KM |
