If you knew these guys personally, you would know that 80-90% of their net worths are tied up in RRC stock. They are all conservative guys and would much rather sell stock at a near 52wk high then leverage themselves with their stock holdings.
Have no idea when RRC will hit triple digits, but I agree that it will at some time. I think their 500k acres in South PA alone being worth $100 a share without calculating the value of its stacked pay which really double the acreage size-not to mention its remaining acreage and plays. Based on the production and rates of return in the liquids rich area I think you have to value the acreage in the $20,000-30,000 range. So the potential value of RRC is truly huge and the company can grow ten times its current size as they develop their acreage. Now that the fracking and related issues are settled and natural gas is being recognized as abundant and clean -the large players who have missed it will have to move to increase shale reserves. Clearly, if they are interested in RRC they are going to have to pay up because the NAV going forward is enormous-be interesting to watch. Personally, I like RRC as a stand alone company with the current shareholders benefits from all of the capital spent in developing the Marcellus.