Roan Resources Inc (NYSE:ROAN) Ends Down After Crazy 48.04% Swing


Roan Resources Inc (NYSE:ROAN)

June 13th, 2019

Amidst rising markets Roan Resources Inc fell ($0.24) Thursday, a 17.14% drop, closing at $1.16. Roan Resources Inc bounced 48.04% between high and low. As well as the drop in value, Roan Resources Inc hit a new 52 week low of $1.02, breaking the previous low of $1.37 from earlier this month. Despite the drop in value, trading volumes were solid at 482.00% of normal which can indicate investor opportunities. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.21.

ROAN was outperformed by the rest of the Energy sector which went up 1.25%.

Market Sectors

The market sectors were mixed Thursday with a majority of the sectors trending up. Energy saw the biggest increase of the day (1.25%), while the Healthcare sector saw the biggest drop (-0.11%). Information Technology has seen the biggest year-to-date gain of 23.06%.

Utilities saw the biggest turn-around compared to its 5-day performance (-0.31%), as it went up by 0.15%. Healthcare saw a turn-around from its 5-day performance of 2.18% trading down -0.11%.

Sector Breakdown

  • Energy, up 1.25%.
  • Communication Services, up 1.14%.
  • Consumer Discretionary, up 0.90%.
  • Materials, up 0.58%.
  • Industrials, up 0.54%.
  • Financials, up 0.23%.
  • Information Technology, up 0.22%.
  • Utilities, up 0.15%.
  • Consumer Staples, up 0.11%.
  • Real Estate, up 0.09%.
  • Healthcare, down -0.11%.

Roan Resources Inc Info

Roan Resources, Inc. engages in the acquisition, exploration, development, production, and sale of oil and natural gas reserves. It holds interest in the Merge, SCOOP, and STACK plays covering an area of approximately 170,000 net acres located in the Anadarko Basin, Oklahoma. The company was incorporated in 2018 and is headquartered in Oklahoma City, Oklahoma. Roan Resources, Inc. is a subsidiary of Roan Holdings, LLC.

All amounts in USD unless otherwise indicated

(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Roan Resources Inc’s score is 0.21) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.

ROAN daily update
ROAN daily update

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