Market Analysts see Range Resources Corporation [RRC] gaining to $38. Time to buy?

Range Resources Corporation [NYSE: RRC] plunged by -$2.53 during the normal trading session on Wednesday and reaching a high of $28.55 during the day while it closed the day at $26.57. The company report on October 24, 2022 that Range Announces Third Quarter 2022 Results.

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Range Resources Corporation stock has also loss -3.52% of its value over the past 7 days. However, RRC stock has declined by -21.83% in the 3 months of the year. Over the past six months meanwhile, it has lost -3.45% and gained 49.02% year-on date.

The market cap for RRC stock reached $6.47 billion, with 239.77 million shares outstanding and 234.24 million shares in the current float. Compared to the average trading volume of 4.21M shares, RRC reached a trading volume of 3898008 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $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 1.71, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 1.20. The Price to Book ratio for the last quarter was 2.95, 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 3.91.

RRC stock trade performance evaluation

Range Resources Corporation [RRC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.52. With this latest performance, RRC shares dropped by -1.92% in over the last four-week period, additionally sinking by -3.45% over the last 6 months – not to mention a rise of 9.43% 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 44.76, with the RSI for the last a single of trading hit 42.39, and the three-weeks RSI is set at 45.65 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 28.32, while it was recorded at 28.13 for the last single week of trading, and 28.57 for the last 200 days.

Range Resources Corporation [RRC]: An insightful look at the core fundamentals

Range Resources Corporation’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.40.

Earnings per share (EPS) analysis for Range Resources Corporation [RRC] stock

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%.

Range Resources Corporation [RRC]: Insider Ownership positions

There are presently around $5,871 million, or 94.80% 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 $664.9 million in RRC stocks shares; and BLACKROCK INC., currently with $661.6 million in RRC stock with ownership of nearly -15.38% of the company’s market capitalization.

173 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 24,987,464 shares. Additionally, 184 investors decreased positions by around 30,386,822 shares, while 49 investors held positions by with 165,593,374 shares. The mentioned changes placed institutional holdings at 220,967,660 shares, according to the latest SEC report filing. RRC stock had 60 new institutional investments in for a total of 5,157,112 shares, while 50 institutional investors sold positions of 3,727,566 shares during the same period.


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