Range Resources Corporation [RRC] Stock trading around $26.74 per share: What’s Next?

Range Resources Corporation [NYSE: RRC] stock went on an upward path that rose over 3.60% on Wednesday, amounting to a one-week price increase of more than 1.10%. The company report on December 1, 2022 that Range Declares Quarterly Dividend.

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…

Sponsored

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 43.30%. The one-year Range Resources Corporation stock forecast points to a potential upside of 28.37. The average equity rating for RRC stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.53 billion, with 239.77 million shares outstanding and 234.24 million shares in the current float. Compared to the average trading volume of 4.25M shares, RRC stock reached a trading volume of 2791088 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 $37.33 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 1.20, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 2.96, 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 3.94.

RRC Stock Performance Analysis:

Range Resources Corporation [RRC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.10. With this latest performance, RRC shares dropped by -5.21% in over the last four-week period, additionally plugging by 9.86% over the last 6 months – not to mention a rise of 43.30% 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 48.73, with the RSI for the last a single of trading hit 51.14, and the three-weeks RSI is set at 48.06 for Range Resources Corporation [RRC]. The present Moving Average for the last 50 days of trading for this stock 27.58, while it was recorded at 26.35 for the last single week of trading, and 29.42 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 0.40.

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 32.86%.

Range Resources Corporation [RRC] Insider Position Details

There are presently around $5,664 million, or 89.50% of RRC stock, in the hands of institutional investors. The top three institutional holders of RRC stocks are: FMR LLC with ownership of 31,681,330, which is approximately -21.714% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 25,135,388 shares of the stock with an approximate value of $672.12 million in RRC stocks shares; and BLACKROCK INC., currently with $643.48 million in RRC stock with ownership of nearly -3.357% 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 190 institutional holders increased their position in Range Resources Corporation [NYSE:RRC] by around 20,452,256 shares. Additionally, 176 investors decreased positions by around 31,160,266 shares, while 55 investors held positions by with 160,188,144 shares. The mentioned changes placed institutional holdings at 211,800,666 shares, according to the latest SEC report filing. RRC stock had 73 new institutional investments in for a total of 8,819,669 shares, while 35 institutional investors sold positions of 2,905,799 shares during the same period.

LEAVE A REPLY

Please enter your comment!
Please enter your name here