Range Resources Corporation [RRC] Stock trading around $24.07 per share: What’s Next?



Range Resources Corporation [NYSE: RRC] gained 1.69% or 0.4 points to close at $24.07 with a heavy trading volume of 3236013 shares. The company report on October 8, 2021 that Range Announces Conference Call to Discuss Third Quarter 2021 Financial Results.

RANGE RESOURCES CORPORATION (NYSE: RRC) announced that its third quarter 2021 financial results news release will be issued Tuesday, October 26 after the close of trading on the New York Stock Exchange.

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A conference call to review the financial results is scheduled on Wednesday, October 27 at 9:00 a.m. ET (8:00 a.m. CT). A webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company’s website until November 26, 2021.

It opened the trading session at $23.50, the shares rose to $24.42 and dropped to $23.16, the range by which the price of stock traded the whole day. The daily chart for RRC points out that the company has recorded 172.29% gains over the past six months. However, it is still -305.9% lower than its most recent low trading price.

If we look at the average trading volume of 5.15M shares, RRC reached to a volume of 3236013 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 $17.46 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 2.80. 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 Buy, with their previous recommendation back on October 15, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price from $18 to $30. The new note on the price target was released on October 14, 2021, representing the official price target for Range Resources Corporation stock. Previously, the target price had yet another raise from $15 to $20, while JP Morgan kept a Neutral rating on RRC stock.

The Average True Range (ATR) for Range Resources Corporation is set at 1.29, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 2.77. The Price to Book ratio for the last quarter was 3.83, 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 18.42 with Quick ratio for the last quarter at 0.40.

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 4.56. With this latest performance, RRC shares gained by 28.10% in over the last four-week period, additionally plugging by 172.29% over the last 6 months – not to mention a rise of 188.26% 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 66.88, with the RSI for the last a single of trading hit 66.34, and the three-weeks RSI is set at 66.71 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 18.50, while it was recorded at 23.65 for the last single week of trading, and 13.59 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 -13.36 and a Gross Margin at -3.31. Range Resources Corporation’s Net Margin is presently recorded at -39.97.

Return on Total Capital for RRC is now -4.58, given the latest momentum, and Return on Invested Capital for the company is -13.84. Return on Equity for this stock declined to -35.72, with Return on Assets sitting at -10.57. When it comes to the capital structure of this company, Range Resources Corporation [RRC] has a Total Debt to Total Equity ratio set at 192.57. Additionally, RRC Total Debt to Total Capital is recorded at 65.82, with Total Debt to Total Assets ending up at 45.99. Long-Term Debt to Equity for the company is recorded at 188.30, with the Long-Term Debt to Total Capital now at 64.36.

Reflecting on the efficiency of the workforce at the company, Range Resources Corporation [RRC] managed to generate an average of -$1,335,417 per employee. Receivables Turnover for the company is 6.78 with a Total Asset Turnover recorded at a value of 0.26.Range Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

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

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 12.20%.

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

There are presently around $5,861 million, or 94.80% of RRC stock, in the hands of institutional investors. The top three institutional holders of RRC stocks are: BLACKROCK INC. with ownership of 40,294,167, which is approximately 1.133% of the company’s market cap and around 2.30% of the total institutional ownership; VANGUARD GROUP INC, holding 26,604,210 shares of the stock with an approximate value of $640.36 million in RRC stocks shares; and FMR LLC, currently with $490.16 million in RRC stock with ownership of nearly New of the company’s market capitalization.

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Positions in Range Resources Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 127 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 36,022,067 shares. Additionally, 134 investors decreased positions by around 24,048,026 shares, while 57 investors held positions by with 183,447,733 shares. The mentioned changes placed institutional holdings at 243,517,826 shares, according to the latest SEC report filing. RRC stock had 51 new institutional investments in for a total of 25,837,465 shares, while 39 institutional investors sold positions of 5,413,894 shares during the same period.



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