Wolfe Research slashes price target on Range Resources Corporation [RRC] – find out why.

Range Resources Corporation [NYSE: RRC] plunged by -$0.17 during the normal trading session on Tuesday and reaching a high of $9.37 during the day while it closed the day at $8.71. The company report on August 18, 2020 that Range Announces Pricing of Upsized $300 Million Offering of Additional 9.250% Senior Notes Due 2026 and Amends Terms of Tender Offers.

RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) announced today that it has priced at par an offering of $300 million aggregate principal amount of its 9.250% senior notes due 2026 (the “New Notes”). Range expects that the net proceeds of the offering will be approximately $294.6 million. The size of the offering was increased from the previously announced $200 million to $300 million.

The New Notes are being offered as additional notes to the $550 million aggregate principal amount of the 9.250% senior notes due 2026 previously issued by Range on January 24, 2020 (the “Initial Notes”). The New Notes will have identical terms as the Initial Notes, other than the issue date, and the New Notes and the Initial Notes will be treated as a single class of securities under the indenture.

Range Resources Corporation stock has also gained 7.40% of its value over the past 7 days. However, RRC stock has inclined by 47.88% in the 3 months of the year. Over the past six months meanwhile, it has gained 170.50% and gained 79.59% year-on date.

The market cap for RRC stock reached $2.05 billion, with 239.47 million shares outstanding and 218.87 million shares in the current float. Compared to the average trading volume of 8.37M shares, RRC reached a trading volume of 6374325 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Range Resources Corporation [RRC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RRC shares is $6.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RRC stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Range Resources Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 12, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Underperform. The new note on the price target was released on August 05, 2020, representing the official price target for Range Resources Corporation stock.

The Average True Range (ATR) for Range Resources Corporation is set at 0.50, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 1.04. The Price to Book ratio for the last quarter was 0.89, with the Price to Cash per share for the same quarter was set at 0.00. Price to Free Cash Flow for RRC in the course of the last twelve months was 4.80 with Quick ratio for the last quarter at 0.60.

RRC stock trade performance evaluation

Range Resources Corporation [RRC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.40. With this latest performance, RRC shares gained by 34.83% in over the last four-week period, additionally plugging by 170.50% over the last 6 months – not to mention a rise of 92.27% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RRC stock in for the last two-week period is set at 67.51, with the RSI for the last a single of trading hit 69.67, and the three-weeks RSI is set at 65.01 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 6.79, while it was recorded at 8.54 for the last single week of trading, and 4.80 for the last 200 days.

Range Resources Corporation [RRC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Range Resources Corporation [RRC] shares currently have an operating margin of -43.39 and a Gross Margin at -36.65. Range Resources Corporation’s Net Margin is presently recorded at -66.00.

Return on Total Capital for RRC is now -16.74, given the latest momentum, and Return on Invested Capital for the company is -25.51. Return on Equity for this stock declined to -53.58, with Return on Assets sitting at -21.04. When it comes to the capital structure of this company, Range Resources Corporation [RRC] has a Total Debt to Total Equity ratio set at 138.10. Additionally, RRC Total Debt to Total Capital is recorded at 58.00, with Total Debt to Total Assets ending up at 49.03. Long-Term Debt to Equity for the company is recorded at 136.91, with the Long-Term Debt to Total Capital now at 57.50.

Reflecting on the efficiency of the workforce at the company, Range Resources Corporation [RRC] managed to generate an average of -$2,620,684 per employee. Receivables Turnover for the company is 6.81 with a Total Asset Turnover recorded at a value of 0.32.Range Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Earnings per share (EPS) analysis for Range Resources Corporation [RRC] stock

With the latest financial reports released by the company, Range Resources Corporation posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RRC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Range Resources Corporation go to 20.97%.

Range Resources Corporation [RRC]: Insider Ownership positions

There are presently around $2,360 million, in the hands of institutional investors. The top three institutional holders of RRC stocks are: BLACKROCK INC. with ownership of 32,347,736, which is approximately 24.201% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 25,933,294 shares of the stock with an approximate value of $225.88 million in RRC stocks shares; and SAILINGSTONE CAPITAL PARTNERS LLC, currently with $169.35 million in RRC stock with ownership of nearly -37.394% of the company’s market capitalization.

Positions in Range Resources Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 129 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 68,703,741 shares. Additionally, 143 investors decreased positions by around 73,532,932 shares, while 49 investors held positions by with 128,767,326 shares. The mentioned changes placed institutional holdings at 271,003,999 shares, according to the latest SEC report filing. RRC stock had 49 new institutional investments in for a total of 28,553,163 shares, while 50 institutional investors sold positions of 13,439,504 shares during the same period.

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