Wednesday, September 23, 2020

Range Resources Corporation [RRC] Is Currently 0.71 below its 200 Period Moving Avg: What Dose This Mean?

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Range Resources Corporation [NYSE: RRC] closed the trading session at $7.14 on 09/04/20. The day’s price range saw the stock hit a low of $6.6856, while the highest price level was $7.23. The company report on September 1, 2020 that Range Announces Early Results of Cash Tender Offers.

RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) announced today the results to date of Range’s previously announced cash tender offers (the “Tender Offers”) to purchase up to $500 million aggregate principal amount (the “Aggregate Maximum Tender Amount”) of its outstanding 5.750% senior notes due 2021 (the “2021 Senior Notes”), 5.750% senior subordinated notes due 2021 (the “2021 Subordinated Notes”), 5.875% senior notes due 2022 (the “5.875% 2022 Senior Notes”), 5.000% senior notes due 2022 (the “5.000% 2022 Senior Notes”), 5.000% senior subordinated notes due 2022 (the “2022 Subordinated Notes”) and 5.000% senior notes due 2023 (the “2023 Senior Notes” and, together with the 2021 Senior Notes, the 2021 Subordinated Notes, the 5.875% 2022 Senior Notes, the 5.000% 2022 Senior Notes, and the 2022 Subordinated Notes, collectively, the “Notes”).

Based on information provided by D.F. King and Co., the tender agent for the Tender Offers, approximately $863.6 million aggregate principal amount of Notes were validly tendered (and not validly withdrawn) at or prior to 5:00 p.m., New York City time, on August 31, 2020 (the “Early Tender Date”). The following table sets forth the approximate aggregate principal amounts of each series of Notes that were validly tendered (and not validly withdrawn) as of the Early Tender Date and the principal amounts that, subject to satisfaction of the conditions to the Tender Offers described below, are expected to be accepted for purchase pursuant to the Tender Offers:.

The stocks have a year to date performance of 47.22 percent and weekly performance of -8.34 percent. The stock has been moved at 203.83 percent over the last six months. The stock has performed -8.11 percent around the most recent 30 days and changed -11.08 percent over the most recent 3-months.

If compared to the average trading volume of 7.90M shares, RRC reached to a volume of 4270130 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 $7.31 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 0.49, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 0.92. The Price to Book ratio for the last quarter was 0.73, 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 4.25 with Quick ratio for the last quarter at 0.60.

RRC stock trade performance evaluation

Range Resources Corporation [RRC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.34. With this latest performance, RRC shares dropped by -8.11% in over the last four-week period, additionally plugging by 203.83% over the last 6 months – not to mention a rise of 81.68% 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 43.10, with the RSI for the last a single of trading hit 37.69, and the three-weeks RSI is set at 47.23 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 7.14, while it was recorded at 7.22 for the last single week of trading, and 5.02 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 21.20%.

Range Resources Corporation [RRC]: Insider Ownership positions

There are presently around $1,865 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 $185.16 million in RRC stocks shares; and SAILINGSTONE CAPITAL PARTNERS LLC, currently with $138.82 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 126 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 58,702,721 shares. Additionally, 145 investors decreased positions by around 73,576,420 shares, while 48 investors held positions by with 128,870,041 shares. The mentioned changes placed institutional holdings at 261,149,182 shares, according to the latest SEC report filing. RRC stock had 46 new institutional investments in for a total of 18,394,767 shares, while 50 institutional investors sold positions of 13,479,398 shares during the same period.

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