In today’s recent session, 4,031,524 shares of the Range Resources Corporation(NYSE:RRC) have been traded, and its beta is 2.82. Most recently the company’s share price was $10.58, and it changed around $0.41 or 0.04% from the last close, which brings the market valuation of the company to $2.7 Billion. RRC at last check was trading at a discount to its 52-week high of $11.6, offering almost -9.64% off that amount. The share price’s 52-week low was $1.61, which indicates that the recent value has risen by an impressive 84.78% since then. We note from Range Resources Corporation’s average daily trading volume that its 10-day average is 7.33 Million shares, with the 3-month average coming to 6.31 Million.
Range Resources Corporation stock received a consensus recommendation rating of Hold, based on a mean score of 2.8. If we narrow it down even further, the data shows that 4 out of 29 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 17 recommended RRC as a Hold, whereas 6 deemed it a Buy, and 1 rated it as Underweight. Range Resources Corporation is expected to report earnings per share of $0.06 for the current quarter.
Range Resources Corporation (NYSE:RRC): Trading Information Today
Instantly RRC has been showing a green trend so far today with a performance of 4.03% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $11.60 on Wednesday, Feb 17 increased the stock’s daily price by 8.19%. The company’s shares are currently up 0.59% year-to-date, but still up 0.0477 over the last five days. On the other hand, Range Resources Corporation (NYSE:RRC) is 0.22% up in the 30-day period. We can see from the shorts that 35.19 Million shares have been sold at a short interest cover period of 5.58 day(s).
The consensus price target as assigned by Wall Street analysts is $10, which translates to bears needing to reduce their stock price by -5.48% from its current value. Analyst projections state that RRC is forecast to be at a low of $7 and a high of $15. In order for the stock price to hit the forecast high, the stock would need to surge +41.78% from its current level, while the stock would need to crash -33.84% from its current level to reach the projected low.
Range Resources Corporation (RRC) projections and forecasts
Range Resources Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +15.05 percent over the past six months and at a -110% annual growth rate that is well below the industry average of -27%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -25% in revenue this quarter, and will report an increase of 550% in the next quarter. The year-over-year growth rate is expected to be -18.7%, down from the previous year.
Consensus estimates provided by 17 financial analysts predict the company will bring in an average of $497.57 Million in revenue for the current quarter. 16 analysts expect Range Resources Corporation to make $564.27 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $545.44 Million and $432.1 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -8.8%. Forecasts for the next quarter put sales growth at 30.6%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -30.8%. Range Resources Corporation earnings are expected to increase by 2.4% in 2021, but the outlook is positive 31.86% per year for the next five years.
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Range Resources Corporation (NYSE:RRC)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 2.4% of Range Resources Corporation shares, and 95.85% of them are in the hands of institutional investors. The stock currently has a share float of 98.21%. Range Resources Corporation stock is held by 368 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 14.5% of the shares, which is about 37.17 Million shares worth $249.01 Million.
Vanguard Group, Inc. (The), with 10.46% or 26.8 Million shares worth $177.45 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.