Roan Resources (OTCMKTS:ROAN) Sees Unusually-High Trading Volume

Shares of Roan Resources Inc (OTCMKTS:ROAN) saw strong trading volume on Friday . 6,119,450 shares were traded during mid-day trading, an increase of 778% from the previous session’s volume of 697,333 shares.The stock last traded at $1.74 and had previously closed at $1.69.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Roan Resources from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Imperial Capital assumed coverage on shares of Roan Resources in a report on Thursday, April 4th. They issued an “outperform” rating and a $10.00 price objective for the company.

The firm has a 50-day moving average of $2.41.

Roan Resources (OTCMKTS:ROAN) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $14.90 million for the quarter, compared to the consensus estimate of $114.68 million.

A number of hedge funds and other institutional investors have recently bought and sold shares of ROAN. BlackRock Inc. acquired a new stake in Roan Resources in the 4th quarter valued at $1,498,000. Bank of New York Mellon Corp bought a new position in Roan Resources during the 4th quarter valued at $230,000. Diamond Hill Capital Management Inc. bought a new position in Roan Resources during the 4th quarter valued at $2,993,000. Citigroup Inc. bought a new position in Roan Resources during the 4th quarter valued at $100,000. Finally, Northern Trust Corp bought a new position in Roan Resources during the 4th quarter valued at $993,000.

Roan Resources Company Profile (OTCMKTS:ROAN)

Linn Energy, Inc, through its equity interest in Roan Resources LLC, engages in the acquisition, exploration, and development of unconventional oil and natural gas reserves. It holds interests in various assets that cover approximately 150,000 net acres located in Merge, SCOOP, and STACK plays of the Anadarko Basin in Oklahoma.

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