Market Analysts see Range Resources Corporation [RRC] gaining to $36. Time to buy?

Range Resources Corporation [NYSE: RRC] stock went on a downward path that fall over -5.04% on Monday, amounting to a one-week price decrease of less than -21.70%. The company report on August 30, 2022 that Range Declares Quarterly Dividend.


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RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that its Board of Directors declared a quarterly cash dividend on its common stock for the third quarter. A dividend of $0.08 per common share is payable on September 30, 2022 to stockholders of record at the close of business on September 15, 2022.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused on stacked-pay projects in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

Over the last 12 months, RRC stock rose by 16.49%. The one-year Range Resources Corporation stock forecast points to a potential upside of 41.84. The average equity rating for RRC stock is currently 2.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.85 billion, with 262.89 million shares outstanding and 254.95 million shares in the current float. Compared to the average trading volume of 4.50M shares, RRC stock reached a trading volume of 9337161 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $40.82 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.

Scotiabank have made an estimate for Range Resources Corporation shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on July 25, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on July 21, 2022, representing the official price target for Range Resources Corporation stock. Previously, the target price had yet another raise to $25, while MKM Partners analysts kept a Neutral rating on RRC stock. On July 11, 2022, analysts increased their price target for RRC shares from 44 to 49.

The Average True Range (ATR) for Range Resources Corporation is set at 1.76, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 1.43. The Price to Book ratio for the last quarter was 2.92, 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 5.52.

RRC Stock Performance Analysis:

Range Resources Corporation [RRC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.70. With this latest performance, RRC shares dropped by -31.09% in over the last four-week period, additionally sinking by -24.66% over the last 6 months – not to mention a rise of 16.49% 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 26.83, with the RSI for the last a single of trading hit 19.48, and the three-weeks RSI is set at 32.60 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 31.57, while it was recorded at 27.02 for the last single week of trading, and 27.24 for the last 200 days.

Insight into Range Resources Corporation 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 Current Ratio set at 0.30.

RRC Stock EPS

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 36.99%.

Range Resources Corporation [RRC] Insider Position Details

There are presently around $5,275 million, or 86.90% of RRC stock, in the hands of institutional investors. The top three institutional holders of RRC stocks are: FMR LLC with ownership of 40,468,710, which is approximately 11.77% of the company’s market cap and around 2.10% of the total institutional ownership; VANGUARD GROUP INC, holding 25,024,362 shares of the stock with an approximate value of $594.08 million in RRC stocks shares; and BLACKROCK INC., currently with $591.13 million in RRC stock with ownership of nearly -15.38% of the company’s market capitalization.

Positions in Range Resources Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 172 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 25,281,972 shares. Additionally, 184 investors decreased positions by around 31,042,831 shares, while 54 investors held positions by with 165,889,709 shares. The mentioned changes placed institutional holdings at 222,214,512 shares, according to the latest SEC report filing. RRC stock had 65 new institutional investments in for a total of 6,030,230 shares, while 61 institutional investors sold positions of 4,135,768 shares during the same period.

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