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Range Resources Corporation (NYSE: RRC) Is An Exciting Stock

Range Resources Corporation (NYSE:RRC) traded at $24.78 at last check on Tuesday, 01/24/23, made a downward move of -4.97% on its previous day’s price.

Looking at the stock we see that its previous close was $26.08 and the beta (5Y monthly) reads 2.15 with the day’s price range being $25.65 – $26.80. The company has a trailing 12-month PE ratio of 5.50. In terms of its 52-week price range, RRC has a high of $37.44 and a low of $17.35. The company’s stock has lost about -2.47% over that past 30 days.

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Range Resources Corporation has a market cap of $6.22 billion and is expected to release its quarterly earnings report on Feb 20, 2023 – Feb 24, 2023. With its Forward Dividend at 0.32 and a yield of 1.23%, the company’s investors could be anxious for the RRC stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $1.42, with the EPS growth for the year raised at $5.31 for 2022 and $5.11 for next year. These figures represent 162.90% and -3.80% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $1.05 billion, with a low of $879.18 million and a high of $1.26 billion. The median projection represents growth adding up to -7.70% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $3.92 billion, or 22.00% up from figures reported last year.

There have been 2 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the RRC stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 28 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 16 have rated the Range Resources Corporation (RRC) stock as a Hold, while 9 rate it as a Buy. 1 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the RRC stock currently stands at 0.16, and the most recent price level today is -1.57% off its SMA20 and -6.50% from its 50-day simple moving average. The RSI (14) is pointing at 45.30 while the volatility over the past week is 4.03% and jumps to 4.24% over the past one month. The beta value is 2.20, while the average true range (ATR) is currently pointing at 1.13. The average price target for the stock over the next 12 months is $34.00, with the estimates having a low of $24.00 and a high of $53.00. These price ends are 3.15% and -113.88% off the today’s price level respectively, although investors could be excited at the prospect of a -33.17% if the RRC share price touches on the median price of $33.00.

Let’s briefly compare Range Resources Corporation (RRC) stock to its peers. We find that today’s price change of -4.97% and 48.01% over the past 12 months for RRC competes that of Coterra Energy Inc. (CTRA), which has seen its stock price fall -1.90% in the latest trading session and is 39.51% over the last one year. Another of its peers Antero Resources Corporation (AR) has dropped -3.48% today, and was 77.02% up over the past year, while Pioneer Natural Resources Company (PXD) is also down -2.20% yet, while its price remains in the green at 25.32% over the same period. Range Resources Corporation has a P/E ratio of 5.50 compared to Coterra Energy Inc.’s 5.13 and Antero Resources Corporation’s 4.71. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.43% and -1.17%, respectively, in early deals.

Coming back to Range Resources Corporation (NYSE:RRC), we note that the average 3-month trading volume was 3.84 million, while that of the preceding 10-day period stands at 3.94 million. Current shares outstanding are 239.77 million.

The insiders hold 0.20% of the company’s shares while institutions hold 89.50%. The data shows that short shares as of Oct 13, 2022, stood at 10.98 million at a short ratio of 2.33. This represents a 4.53% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 11.09 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 4.24% up in year-to-date price movement.

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