Market Analysts see Ranger Oil Corporation [ROCC] falling to $43. Time to buy?

Ranger Oil Corporation [NASDAQ: ROCC] traded at a low on 04/06/23, posting a -1.46 loss after which it closed the day’ session at $41.74. The company report on March 8, 2023 that Ranger Oil Announces Fourth Quarter and Full-Year 2022 Results.

Entered into definitive merger agreement with Baytex EnergyReached production goal of 50 Mboe/d sooner than expectedProduced record annual free cash flowAnnounced approximately $90 million of shareholder returns since May 2022.

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Ranger Oil Corporation (“Ranger” or the “Company”) (NASDAQ:ROCC) today announced financial and operational results for the fourth quarter and full-year 2022, current operational achievements, and an update on the merger with Baytex Energy Corp. (“Baytex”).

The results of the trading session contributed to over 181213 shares changing hands. Over the past one week, the price volatility of Ranger Oil Corporation stands at 2.51% while the volatility over the past one month is 3.81%.

The market cap for ROCC stock reached $1.73 billion, with 19.10 million shares outstanding and 19.00 million shares in the current float. Compared to the average trading volume of 504.69K shares, ROCC reached a trading volume of 181213 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ranger Oil Corporation [ROCC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ROCC shares is $49.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ROCC stock is a recommendation set at 2.40. 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.

Truist have made an estimate for Ranger Oil Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 09, 2023.

The Average True Range (ATR) for Ranger Oil Corporation is set at 1.54, with the Price to Sales ratio for ROCC stock in the period of the last 12 months amounting to 1.51. The Price to Book ratio for the last quarter was 1.65, with the Price to Cash per share for the same quarter was set at 0.18. Price to Free Cash Flow for ROCC in the course of the last twelve months was 3.23 with Quick ratio for the last quarter at 0.50.

How has ROCC stock performed recently?

Ranger Oil Corporation [ROCC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.15. With this latest performance, ROCC shares dropped by -0.69% in over the last four-week period, additionally plugging by 15.98% over the last 6 months – not to mention a rise of 17.91% 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 ROCC stock in for the last two-week period is set at 56.29, with the RSI for the last a single of trading hit 59.99, and the three-weeks RSI is set at 53.92 for Ranger Oil Corporation [ROCC]. The present Moving Average for the last 50 days of trading for this stock 40.85, while it was recorded at 42.06 for the last single week of trading, and 38.44 for the last 200 days.

Ranger Oil Corporation [ROCC]: Deeper insight into the fundamentals

Ranger Oil Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.

Earnings analysis for Ranger Oil Corporation [ROCC]

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 ROCC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ranger Oil Corporation go to 30.00%.

Insider trade positions for Ranger Oil Corporation [ROCC]

There are presently around $696 million, or 87.70% of ROCC stock, in the hands of institutional investors. The top three institutional holders of ROCC stocks are: BLACKROCK INC. with ownership of 3,026,063, which is approximately -0.196% of the company’s market cap and around 0.64% of the total institutional ownership; STATE STREET CORP, holding 1,603,348 shares of the stock with an approximate value of $67.92 million in ROCC stocks shares; and VANGUARD GROUP INC, currently with $60.45 million in ROCC stock with ownership of nearly -0.992% of the company’s market capitalization.

Positions in Ranger Oil Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 74 institutional holders increased their position in Ranger Oil Corporation [NASDAQ:ROCC] by around 1,708,904 shares. Additionally, 102 investors decreased positions by around 1,518,177 shares, while 21 investors held positions by with 13,200,589 shares. The mentioned changes placed institutional holdings at 16,427,670 shares, according to the latest SEC report filing. ROCC stock had 25 new institutional investments in for a total of 529,543 shares, while 26 institutional investors sold positions of 332,616 shares during the same period.


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