Range Resources Shares Soared: What You Need to Know

Updated

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Range Resources (NYS: RRC) popped more than 19% in early trading after reports that Royal Dutch Shell (NYS: RDS.A) could make a bid for the business.

So what:The Wall Street Journal has since reported that Shell is uninterested in purchasing Range, yet that hasn't deterred the speculators. The stock remains up more than 7% as of this writing on roughly five times the average daily trading volume.

Now what: The Journal's reporting may have something to do with the surge. Rather than deny the rumors outright, the paper said that Range Resources "hadn't been formally approached" and that there were no talks about a deal at present -- all of which could mean that there were informal talks. Do you think Range is a ripe acquisition target? Would you buy at current levels? Please weigh in using the comments box below.

Interested in more info on Range Resources? Add it to your watchlist byclicking here.

At the time thisarticle was published Fool contributorTim Beyersis a member of theMotley Fool Rule Breakersstock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim'sportfolio holdingsandFoolish writings, or connect with him onGoogle+or Twitter, where he goes by@milehighfool. You can also get his insightsdelivered directly to your RSS reader.Motley Fool newsletter serviceshave recommended buying shares of Range Resources. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.

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