Range Resources Corporation [RRC] Is Currently 4.59 below its 200 Period Moving Avg: What Dose This Mean?

Range Resources Corporation [NYSE: RRC] gained 4.59% on the last trading session, reaching $8.43 price per share at the time. The company report on September 23, 2020 that Range Anchors Ethane Supply for Appalachia Polyethylene Complex.

RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) announced that it has signed a long-term ethane supply agreement with PTTGC America LLC (“PTTGCA”) to become an anchor supplier for a proposed world-scale ethylene cracker in Appalachia. This agreement is contingent upon PTTGCA reaching a final investment decision, which is expected in early 2021.

“We are pleased to help support a world-class project that brings additional jobs to Appalachia, while utilizing our low-cost natural gas resources,” said Jeff Ventura, Range’s CEO and President. “Range views this project as a win-win-win for Range, PTTGCA and the many communities in the Northeast that will benefit from the economic boost this facility provides. Importantly, for Range, ethane supplied to PTTGCA will be sourced from existing natural gas production and NGL processing facilities with the benefit of no additional transportation required. Range will also receive a significant revenue uplift compared to selling into the natural gas stream.”.

Range Resources Corporation represents 239.47 million in outstanding shares, while the company has a total market value of $2.17 billion with the latest information. RRC stock price has been found in the range of $8.04 to $8.505.

If compared to the average trading volume of 5.76M shares, RRC reached a trading volume of 4216058 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $7.93 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.

Stifel have made an estimate for Range Resources Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 09, 2020. While these analysts kept the previous recommendation, Goldman raised their target price from $5.50 to $6. The new note on the price target was released on September 24, 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 1.10. The Price to Book ratio for the last quarter was 0.86, 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 5.07 with Quick ratio for the last quarter at 0.60.

Trading performance analysis for RRC stock

Range Resources Corporation [RRC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.41. With this latest performance, RRC shares gained by 22.53% in over the last four-week period, additionally plugging by 92.47% over the last 6 months – not to mention a rise of 134.82% 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 64.00, with the RSI for the last a single of trading hit 72.23, and the three-weeks RSI is set at 60.71 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 7.63, while it was recorded at 7.90 for the last single week of trading, and 5.42 for the last 200 days.

Range Resources Corporation [RRC]: A deeper dive into fundamental analysis

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.

Range Resources Corporation [RRC]: An earnings per share (EPS) analysis

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 26.97%.

An analysis of insider ownership at Range Resources Corporation [RRC]

There are presently around $2,191 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 1.70% of the total institutional ownership; VANGUARD GROUP INC, holding 25,933,294 shares of the stock with an approximate value of $218.62 million in RRC stocks shares; and SAILINGSTONE CAPITAL PARTNERS LLC, currently with $163.91 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 120 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 58,191,895 shares. Additionally, 143 investors decreased positions by around 73,187,379 shares, while 44 investors held positions by with 128,576,861 shares. The mentioned changes placed institutional holdings at 259,956,135 shares, according to the latest SEC report filing. RRC stock had 44 new institutional investments in for a total of 18,377,127 shares, while 48 institutional investors sold positions of 13,098,627 shares during the same period.

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