why Range Resources Corporation [RRC] is a Good Choice for Investors After New Price Target of $38.98


Range Resources Corporation [NYSE: RRC] jumped around 1.17 points on Tuesday, while shares priced at $31.02 at the close of the session, up 3.92%. The company report on April 26, 2022 that Range Announces First Quarter 2022 Results.

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RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its first quarter 2022 financial results.

Range Resources Corporation stock is now 73.98% up from its year-to-date (YTD) trading value. RRC Stock saw the intraday high of $31.845 and lowest of $29.855 per share. The company’s 52-week high price is 34.61, which means current price is +85.64% above from all time high which was touched on 04/18/22.

Compared to the average trading volume of 6.34M shares, RRC reached a trading volume of 4327495 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 $38.98 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.

Piper Sandler have made an estimate for Range Resources Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 21, 2022. While these analysts kept the previous recommendation, TD Securities raised their target price from $16.50 to $22. The new note on the price target was released on January 05, 2022, representing the official price target for Range Resources Corporation stock. Previously, the target price had yet another raise from $22 to $26, while Morgan Stanley kept a Underweight rating on RRC stock.

The Average True Range (ATR) for Range Resources Corporation is set at 1.87, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 4.76, with the Price to Cash per share for the same quarter was set at 0.40. Price to Free Cash Flow for RRC in the course of the last twelve months was 7.95 with Quick ratio for the last quarter at 0.20.

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 5.15. With this latest performance, RRC shares dropped by -1.68% in over the last four-week period, additionally plugging by 33.82% over the last 6 months – not to mention a rise of 178.46% 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 53.38, with the RSI for the last a single of trading hit 51.59, and the three-weeks RSI is set at 55.50 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 28.73, while it was recorded at 30.53 for the last single week of trading, and 21.66 for the last 200 days.

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

Range Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

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 21.70%.

Insider trade positions for Range Resources Corporation [RRC]

There are presently around $7,033 million, or 90.30% 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 $816.43 million in RRC stocks shares; and FMR LLC, currently with $804.37 million in RRC stock with ownership of nearly 26.61% of the company’s market capitalization.

142 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 18,067,860 shares. Additionally, 156 investors decreased positions by around 17,096,079 shares, while 63 investors held positions by with 200,462,573 shares. The mentioned changes placed institutional holdings at 235,626,512 shares, according to the latest SEC report filing. RRC stock had 67 new institutional investments in for a total of 3,195,188 shares, while 38 institutional investors sold positions of 3,466,471 shares during the same period.