Resolute Forest Products (NYSE:RFP) (TSE:RFP) saw unusually large options trading activity on Thursday. Traders purchased 799 call options on the stock. This represents an increase of approximately 995% compared to the average volume of 73 call options.

RFP opened at $9.36 on Friday. The company has a quick ratio of 1.59, a current ratio of 2.56 and a debt-to-equity ratio of 0.36. The company has a market cap of $819.95 million, a P/E ratio of 4.36 and a beta of 1.18. Resolute Forest Products has a fifty-two week low of $7.27 and a fifty-two week high of $15.75.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings results on Thursday, November 1st. The basic materials company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.34. Resolute Forest Products had a net margin of 5.70% and a return on equity of 11.49%. The business had revenue of $974.00 million during the quarter. During the same period last year, the firm earned $0.34 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis.

The firm also recently announced a dividend, which was paid on Thursday, December 20th. Investors of record on Thursday, December 6th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Wednesday, December 5th.

In other news, SVP John Lafave sold 12,500 shares of the business’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $9.40, for a total transaction of $117,500.00. Following the transaction, the senior vice president now owns 87,556 shares in the company, valued at approximately $823,026.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its holdings in Resolute Forest Products by 5.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 296,562 shares of the basic materials company’s stock valued at $3,070,000 after buying an additional 14,949 shares during the period. BlackRock Inc. raised its holdings in Resolute Forest Products by 18.0% during the 2nd quarter. BlackRock Inc. now owns 1,841,297 shares of the basic materials company’s stock worth $19,057,000 after purchasing an additional 281,317 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Resolute Forest Products by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,851,433 shares of the basic materials company’s stock valued at $39,862,000 after acquiring an additional 228,131 shares in the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of Resolute Forest Products in the 2nd quarter valued at $1,076,000. Finally, Renaissance Technologies LLC increased its stake in Resolute Forest Products by 36.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,258,800 shares of the basic materials company’s stock valued at $13,029,000 after purchasing an additional 334,300 shares in the last quarter. 91.48% of the stock is currently owned by institutional investors.

A number of research firms have commented on RFP. CIBC lowered shares of Resolute Forest Products from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, September 19th. TD Securities reduced their price target on shares of Resolute Forest Products from $14.00 to $13.50 and set a “hold” rating on the stock in a research report on Friday, November 2nd. Finally, Royal Bank of Canada boosted their price target on shares of Resolute Forest Products from $13.00 to $14.00 and gave the company a “sector perform” rating in a research report on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.88.

WARNING: This piece was posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.watchlistnews.com/resolute-forest-products-target-of-unusually-high-options-trading-rfp/2739502.html.

About Resolute Forest Products

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

Read More: Insider Trading

Receive News & Ratings for Resolute Forest Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resolute Forest Products and related companies with MarketBeat.com's FREE daily email newsletter.