Market cap of Range Resources Corporation [RRC] reaches 6.77B – now what?

Range Resources Corporation [NYSE: RRC] loss -2.48% or -0.7 points to close at $27.54 with a heavy trading volume of 3485966 shares. The company report on October 24, 2022 that Range Announces Third Quarter 2022 Results.

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It opened the trading session at $28.67, the shares rose to $28.89 and dropped to $27.44, the range by which the price of stock traded the whole day. The daily chart for RRC points out that the company has recorded -14.04% loss over the past six months. However, it is still -64.81% lower than its most recent low trading price.

If we look at the average trading volume of 4.17M shares, RRC reached to a volume of 3485966 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 $37.75 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 2.50. 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.

Susquehanna have made an estimate for Range Resources Corporation shares, keeping their opinion on the stock as Positive, with their previous recommendation back on October 26, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on October 25, 2022, representing the official price target for Range Resources Corporation stock. Previously, the target price had yet another raise to $31, while Jefferies analysts kept a Hold rating on RRC stock. On September 29, 2022, analysts increased their price target for RRC shares from 32 to 33.

The Average True Range (ATR) for Range Resources Corporation is set at 1.60, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 1.25. The Price to Book ratio for the last quarter was 3.05, with the Price to Cash per share for the same quarter was set at 0.64. Price to Free Cash Flow for RRC in the course of the last twelve months was 4.08.

Trading performance analysis for RRC stock

Range Resources Corporation [RRC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.64. With this latest performance, RRC shares dropped by -2.20% in over the last four-week period, additionally sinking by -14.04% over the last 6 months – not to mention a rise of 17.04% 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 48.63, with the RSI for the last a single of trading hit 49.10, and the three-weeks RSI is set at 48.05 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 28.90, while it was recorded at 27.80 for the last single week of trading, and 28.32 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 +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 0.40.

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 35.64%.

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

There are presently around $6,103 million, or 94.90% 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 2.20% of the total institutional ownership; VANGUARD GROUP INC, holding 25,024,362 shares of the stock with an approximate value of $689.17 million in RRC stocks shares; and BLACKROCK INC., currently with $685.75 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 October and at the time of the October reporting period, where 168 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 26,277,280 shares. Additionally, 187 investors decreased positions by around 31,562,657 shares, while 53 investors held positions by with 163,762,723 shares. The mentioned changes placed institutional holdings at 221,602,660 shares, according to the latest SEC report filing. RRC stock had 64 new institutional investments in for a total of 5,807,078 shares, while 54 institutional investors sold positions of 3,917,744 shares during the same period.


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