VET - Why Range Resources and Antero Resources Fell as Much as 15% This Week but Vermilion Energy Jumped 12%
Shares of exploration and production company Range Resources (NYSE: RRC) were lower by nearly 16.5% at one point this week according to data from S&P Global Market Intelligence . Antero Resources (NYSE: AR) wasn't far behind, with a decline of a little more than 15%. And yet energy sector peer Vermilion Energy (NYSE: VET) rose more than 12.5% at one point.
By the start of trading on Friday, Dec. 3, in what has been an incredibly volatile week for the S&P 500 index , Range remained off by roughly 12.5% while Antero was lower by 11%. And Vermilion was still holding on to most of its gains, sitting with an uptick of nearly 11.5%. So what's going on? Ultimately, every industry is impacted by a mixture of big events and smaller company-specific ones. That's the story with this trio. Range and Antero were largely hit by the big stuff, while Vermilion benefited from a company-specific move.
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Why Range Resources and Antero Resources Fell as Much as 15% This Week, but Vermilion Energy Jumped 12%