Range Resources Corporation [RRC] gain 76.72% so far this year. What now?


Range Resources Corporation [NYSE: RRC] traded at a high on 03/25/22, posting a 8.28 gain after which it closed the day’ session at $31.51. The company report on March 14, 2022 that U.S. Well Services and Range Resources Finalize Electric Fleet Contract Extension.

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U.S. Well Services (NASDAQ: USWS) (“USWS” or the “Company”) today announced it has finalized an agreement with a subsidiary of Range Resources Corporation (NYSE: RRC) (“Range”) to extend its existing electric fleet contract with Range following its expiration in November 2022. Under the terms of the extension, USWS will deploy a new Nyx Clean Fleet® in November 2022 that will support Range’s Appalachian completion program through the end of 2024.

“U.S. Well Services is proud to continue our relationship with Range Resources,” said Joel Broussard, USWS’ President and CEO. “Range is not only a best-in-class E&P operator in the Marcellus, but also a strong partner for USWS. This extension represents our third contract with Range to provide safe and efficient well completions since mid-2019. We believe this extension highlights the value offered by our electric fracturing technology, as rapidly rising diesel prices and the continued effort to reduce greenhouse gas emissions are of increasing concern to our customers. We look forward to delivering the Nyx fleet for Range and demonstrating the capabilities of our next-generation electric fracturing technology.”.

The results of the trading session contributed to over 10172365 shares changing hands. Over the past one week, the price volatility of Range Resources Corporation stands at 6.13% while the volatility over the past one month is 5.61%.

The market cap for RRC stock reached $7.63 billion, with 243.37 million shares outstanding and 237.21 million shares in the current float. Compared to the average trading volume of 6.40M shares, RRC reached a trading volume of 10172365 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $28.83 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 2.60. 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.

TD Securities have made an estimate for Range Resources Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 05, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $22 to $26. The new note on the price target was released on November 19, 2021, representing the official price target for Range Resources Corporation stock. Previously, the target price had yet another raise to $33, while The Benchmark Company analysts kept a Buy rating on RRC stock. On October 15, 2021, analysts increased their price target for RRC shares from 18 to 32.

The Average True Range (ATR) for Range Resources Corporation is set at 1.63, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 3.68, with the Price to Cash per share for the same quarter was set at 0.89. Price to Free Cash Flow for RRC in the course of the last twelve months was 9.64 with Quick ratio for the last quarter at 0.60.

How has RRC stock performed recently?

Range Resources Corporation [RRC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.68. With this latest performance, RRC shares gained by 32.01% in over the last four-week period, additionally plugging by 54.61% over the last 6 months – not to mention a rise of 189.88% 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 76.35, with the RSI for the last a single of trading hit 81.14, and the three-weeks RSI is set at 72.78 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 22.72, while it was recorded at 28.53 for the last single week of trading, and 19.63 for the last 200 days.

Range Resources Corporation [RRC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Range Resources Corporation [RRC] shares currently have an operating margin of +36.46 and a Gross Margin at +42.98. Range Resources Corporation’s Net Margin is presently recorded at +11.20.

Return on Equity for this stock inclined to 21.54, with Return on Assets sitting at 5.61.

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 analysis for Range Resources Corporation [RRC]

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 19.99%.

Insider trade positions for Range Resources Corporation [RRC]

There are presently around $7,469 million, or 93.20% of RRC stock, in the hands of institutional investors. The top three institutional holders of RRC stocks are: BLACKROCK INC. with ownership of 39,129,163, which is approximately -0.102% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 27,351,074 shares of the stock with an approximate value of $861.83 million in RRC stocks shares; and FMR LLC, currently with $849.1 million in RRC stock with ownership of nearly 26.61% of the company’s market capitalization.

Positions in Range Resources Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 140 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 18,884,336 shares. Additionally, 155 investors decreased positions by around 15,238,852 shares, while 58 investors held positions by with 202,923,900 shares. The mentioned changes placed institutional holdings at 237,047,088 shares, according to the latest SEC report filing. RRC stock had 67 new institutional investments in for a total of 2,829,873 shares, while 35 institutional investors sold positions of 3,200,713 shares during the same period.