Range Resources (RRC) is advancing after a Capital One wrote earlier this morning in a note to investors that the company has several attributes that could make it a takeover target. Specifically, the firm believes that Range Resources' southwest Pennsylvania Marcellus wells generate internal rates of return of 40%-75%, while the company's Upper Devonian assets could add significant additional value to the company. In addition, Range Resources has operational expertise and an enormous drilling inventory, according to Capital One, which believes that the company could be acquired for $100 per share. Shares of Range Resources rallied 1.6%, or $1.07, to $67.70 in pre-market trading.
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