Range Resources Corp [NYSE: RRC] price surged by 7.73 percent to reach at $2.36. The company report on February 21, 2024 at 4:15 PM that Range Announces Fourth Quarter 2023 Results and 2024 Guidance.
The one-year RRC stock forecast points to a potential upside of 4.45. The average equity rating for RRC stock is currently 2.52, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Range Resources Corp [RRC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RRC shares is $34.41 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 2.52. 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.
The Benchmark Company have made an estimate for Range Resources Corp shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 11, 2024. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $40 to $32. The new note on the price target was released on December 14, 2023, representing the official price target for Range Resources Corp stock. Previously, the target price had yet another drop from $33 to $32, while JP Morgan kept a Underweight rating on RRC stock.
The Average True Range (ATR) for Range Resources Corp is set at 1.07, with the Price to Sales ratio for RRC stock in the period of the last 12 months amounting to 2.57. The Price to Book ratio for the last quarter was 2.30, with the Price to Cash per share for the same quarter was set at 0.67. Price to Free Cash Flow for RRC in the course of the last twelve months was 9.87 with Quick ratio for the last quarter at 0.93.
RRC Stock Performance Analysis:
Range Resources Corp [RRC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.49. With this latest performance, RRC shares gained by 11.87% in over the last four-week period, additionally plugging by 1.64% over the last 6 months – not to mention a rise of 40.51% 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 70.75, with the RSI for the last a single of trading hit 78.65, and the three-weeks RSI is set at 64.55 for Range Resources Corp [RRC]. The present Moving Average for the last 50 days of trading for this stock 29.86, while it was recorded at 30.63 for the last single week of trading, and 30.83 for the last 200 days.
Insight into Range Resources Corp Fundamentals:
Range Resources Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.93 and a Current Ratio set at 0.93.
RRC Stock EPS
With the latest financial reports released by the company, Range Resources Corp posted 1.3/share EPS, while the average EPS was predicted by analysts to be reported at 1.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. 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 Corp go to 12.20%.
Range Resources Corp [RRC] Institutonal Ownership Details
The top three institutional holders of RRC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RRC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RRC stock with ownership which is approximately 5.8325%.
