Range Resources Corporation (NYSE:RRC) shares, rose in value on Friday, August 05, with the stock price up by 3.67% to the previous day’s close as strong demand from buyers drove the stock to $31.10.
Actively observing the price movement in the recent trading, the stock is buoying the session at $30.00, falling within a range of $29.89 and $31.84. The value of beta (5-year monthly) is 2.15 whereas the PE ratio is 16.83 over 12-month period. Referring to stock’s 52-week performance, its high was $37.44, and the low was $12.37. On the whole, RRC has fluctuated by 24.84% over the past month.
With the market capitalization of Range Resources Corporation currently standing at about $8.03 billion, investors are eagerly awaiting this quarter’s results, scheduled for Oct 24, 2022 – Oct 28, 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 $1.34, which is expected to increase to $2.01 for fiscal year $4.99 and then to about $5.51 by fiscal year 2023. Data indicates that the EPS growth is expected to be 147.00% in 2023, while the next year’s EPS growth is forecast to be 10.40%.
Analysts have estimated the company’s revenue for the quarter at $1.04 billion, with a low estimate of $860.95 million and a high estimate of $1.21 billion. According to the average forecast, sales growth in current quarter could jump up 31.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $3.94 billion, representing an increase of 22.60% 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 9 upward and no downward review(s) in last seven days. We see that RRC’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
24 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 14 analyst(s), 7 recommend it as a Buy and 1 called the RRC stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 2 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 0.57, with the price of RRC currently trading nearly 4.48% and 3.41% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.88, while the 7-day volatility ratio is showing 4.81% which for the 30-day chart, stands at 5.66%. Furthermore, Range Resources Corporation (RRC)’s beta value is 2.14, and its average true range (ATR) is 1.73. The company’s stock has been forecasted to trade at an average price of $39.00 over the course of the next 52 weeks, with a low of $25.00 and a high of $61.00. Based on these price targets, the low is 19.61% off current price, whereas the price has to move -96.14% to reach the yearly target high. Additionally, analysts’ median price of $37.00 is likely to be welcomed by investors because it represents a decrease of -18.97% from the current levels.
A comparison of Range Resources Corporation (RRC) with its peers suggests the former has fared considerably weaker in the market. RRC showed an intraday change of 3.67% in today’s session so far, and over the past year, it grew by 105.76%%. In comparison, Coterra Energy Inc. (CTRA) has moved higher at 2.48% today and is up 84.03% over the past 12 months. On the other hand, the price of Antero Resources Corporation (AR) has risen 5.34% today. The stock, however, is off 169.40% from where it was a year ago. Additionally, there is a gain of 2.32% for Pioneer Natural Resources Company (PXD) in recent trading while the stock has seen an overall depriciation of 51.32%% over the past year. The PE ratio stands at 16.83 for Range Resources Corporation, compared to 12.87 for Coterra Energy Inc., and 12.29 for Antero Resources Corporation. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it lost -0.11%. Meanwhile, the Dow Jones Industrial Slipped by -0.08%.
Data on historical trading for Range Resources Corporation (NYSE:RRC) indicates that the trading volumes over the past 10 days have averaged 3.87 million and over the past 3 months, they’ve averaged 5.21 million. According to company’s latest data on outstanding shares, there are 259.80 million shares outstanding.
Nearly 2.10% of Range Resources Corporation’s shares belong to company insiders and institutional investors own 89.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.8 million shares as on Jul 14, 2022, resulting in a short ratio of 2.13. According to the data, the short interest in Range Resources Corporation (RRC) stood at 5.56% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 17.21 million. The stock has risen by 68.26% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RRC stock heading into the next quarter.