Ranger Oil Corporation (NASDAQ:ROCC) shares, rose in value on Friday, 05/13/22, with the stock price up by 5.27% to the previous day’s close as strong demand from buyers drove the stock to $33.93.
Actively observing the price movement in the last trading, the stock closed the session at $32.23, falling within a range of $33.00 and $34.9847. The value of beta (5-year monthly) was 3.32 whereas the PE ratio was 17.34 over 12-month period. Referring to stock’s 52-week performance, its high was $42.66, and the low was $14.31. On the whole, ROCC has fluctuated by -10.55% over the past month.
With the market capitalization of Ranger Oil Corporation currently standing at about $1.40 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 07, 2022 – Mar 11, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.77, which is expected to increase to $2.38 for fiscal year $4.28 and then to about $8.34 by fiscal year 2022. Data indicates that the EPS growth is expected to be -25.00% in 2022, while the next year’s EPS growth is forecast to be 94.90%.
Analysts have estimated the company’s revenue for the quarter at $191.07 million, with a low estimate of $189 million and a high estimate of $194.2 million. According to the average forecast, sales growth in current quarter could jump up 185.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $506.4 million, representing an increase of 85.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that ROCC’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.73, with the price of ROCC currently trading nearly -2.44% and -4.51% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.81, while the 7-day volatility ratio is showing 9.56% which for the 30-day chart, stands at 7.80%. Furthermore, Ranger Oil Corporation (ROCC)’s beta value is 2.89, and its average true range (ATR) is 2.68. The company’s stock has been forecasted to trade at an average price of $55.40 over the course of the next 52 weeks, with a low of $43.00 and a high of $65.00. Based on these price targets, the low is -26.73% off current price, whereas the price has to move -91.57% to reach the yearly target high. Additionally, analysts’ median price of $59.00 is likely to be welcomed by investors because it represents a decrease of -73.89% from the current levels.
Data on historical trading for Ranger Oil Corporation (NASDAQ:ROCC) indicates that the trading volumes over the past 3 months, they’ve averaged 450.93K. According to company’s latest data on outstanding shares, there are 20.89 million shares outstanding.
Nearly 0.50% of Ranger Oil Corporation’s shares belong to company insiders and institutional investors own 79.90% of the company’s shares. The stock has risen by 26.04% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ROCC stock heading into the next quarter.