Why Range Resources, Southwestern Energy, and NextDecade Stocks Jumped Double Digits on Wednesday
Wednesday was yet another strong day for oil and gas stocks, but shares of natural gas companies stood out, with many soaring by double-digit percentages. Here are some of the top-performing natural gas stocks of the day, and how much they rallied at their highest points in trading Wednesday:
With Wednesday's move, each of these energy stocks are now less than 5% away from their 52-week highs.
Range Resources is a Texas-based natural gas exploration and production company with major operations in the Marcellus shale in Pennsylvania. The company also produces natural gas liquids and crude oil, but almost 70% of its production is natural gas. Therefore, the price of natural gas is the biggest and most important factor that affects Range Resources' profitability and cash flow.
Source Fool.com
