During the recent session, Range Resources Corporation (NYSE:RRC)’s traded shares were 3,206,811, with the beta value of the company hitting 2.71. At the last check, the stock’s price was $9.61, reflecting an intraday loss of -5.23% or -$0.53. The 52-week high for the RRC share is $11.6, that puts it down -20.71% from that peak though still a striking +69.61% gain since the share price plummeted to a 52-week low of $2.92. The company’s market capitalization is $2.42 Billion, and the average intraday trading volume over the past 10 days was 3.33 Million shares, and the average trade volume was 6.01 Million shares over the past three months.
Range Resources Corporation (RRC) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 2.8. RRC has a Sell rating from 4 analyst(s) out of 27 analysts who have looked at this stock. 17 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 5 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.29.
Range Resources Corporation (NYSE:RRC): Trading Information
Range Resources Corporation (RRC) registered a -5.23% downside in the last session and has traded in the red over the past 5 sessions. The stock spiked 14.34% in intraday trading to $11.23 this Thursday, Apr 01, hitting a weekly high. The stock’s 5-day price performance is -6.92%, and it has moved by -5.55% in 30 days. Despite these dips, the overall price performance for the year is 43.51%. The short interest in Range Resources Corporation (NYSE:RRC) is 29.37 Million shares and it means that shorts have 4.89 day(s) to cover.
The consensus price target of analysts on Wall Street is $11.9, which implies an increase of 23.83% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $8 and $20 respectively. As a result, RRC is trading at a discount of 108.12% off the target high and -16.75% off the low.
Range Resources Corporation (RRC) projections and forecasts
Statistics show that Range Resources Corporation has underperformed its competitors in share price, compared to the industry in which it operates. Range Resources Corporation (RRC) shares have gone up +43.63% during the last six months, with a year-to-date growth rate less than the industry average at -1388.89% against 15%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 625% this quarter and then jump 330% in the quarter after that. In the rating firms’ projections, revenue will increase 42% compared to the previous financial year.
Revenue for the current quarter is expected to be $561.39 Million as predicted by 16 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to $546.49 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $432.1 Million and $349.26 Million respectively. In this case, analysts expect current quarter sales to grow by 29.9% and then jump by 56.5% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 7.2%. While earnings are projected to return 57.4% in 2021, the next five years will return 31.86% per annum.
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Range Resources Corporation (NYSE:RRC)’s Biggest Investors
Range Resources Corporation insiders own 2.7% of total outstanding shares while institutional holders control 94.29%, with the float percentage being 96.91%. Blackrock Inc. is the largest shareholder of the company, while 379 institutions own stock in it. As of Dec 30, 2020, the company held over 37.17 Million shares (or 14.32% of all shares), a total value of $249.01 Million in shares.
The next largest institutional holding, with 27.12 Million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.45% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $181.68 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Range Resources Corporation (RRC) shares are iShares Core S&P Smallcap ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF. Data provided on Feb 27, 2021 indicates that iShares Core S&P Smallcap ETF owns about 17,166,194 shares. This amounts to just over 6.61 percent of the company’s overall shares, with a $165.48 Million market value. The same data shows that the other fund manager holds slightly less at 7.19 Million, or about 2.77% of the stock, which is worth about $69.31 Million.