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An Analysis Of Range Resources Corporation (RRC) Stock

Range Resources Corporation (NYSE:RRC) has a beta value of 2.68 and has seen 6.79 million shares traded in the last trading session. The company, currently valued at $4.31B, closed the last trade at $17.24 per share which meant it gained $0.63 on the day or 3.79% during that session. The RRC stock price is -1.33% off its 52-week high price of $17.47 and 65.6% above the 52-week low of $5.93. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.79 million shares traded. The 3-month trading volume is 4.58 million shares.

The consensus among analysts is that Range Resources Corporation (RRC) is a Hold stock at the moment, with a recommendation rating of 2.80. 3 analysts rate the stock as a Sell, while 1 rate it as Overweight. 17 out of 27 have rated it as a Hold, with 5 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.47.

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Range Resources Corporation (NYSE:RRC) trade information

Sporting 3.79% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the RRC stock price touched $17.24 or saw a rise of 1.49%. Year-to-date, Range Resources Corporation shares have moved 157.31%, while the 5-day performance has seen it change 13.87%. Over the past 30 days, the shares of Range Resources Corporation (NYSE:RRC) have changed 16.80%. Short interest in the company has seen 32.48 million shares shorted with days to cover at 5.87.

Wall Street analysts have a consensus price target for the stock at $17.25, which means that the shares’ value could jump 0.06% from current levels. The projected low price target is $12.50 while the price target rests at a high of $23.00. In that case, then, we find that the current price level is -33.41% off the targeted high while a plunge would see the stock lose 27.49% from current levels.

Range Resources Corporation (RRC) estimates and forecasts

Figures show that Range Resources Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 69.35% over the past 6 months, with this year growth rate of 1,888.89%, compared to 10.80% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 1,040.00% and 2,900.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 61.70%.

14 analysts offering their estimates for the company have set an average revenue estimate of $699.73 million for the current quarter. 14 have an estimated revenue figure of $729.78 million for the next quarter concluding in Dec 2021. Year-ago sales stood $381.55 million and $444.81 million respectively for this quarter and the next, and analysts expect sales will grow by 83.40% for the current quarter and 64.10% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 7.20% over the past 5 years. Earnings growth for 2021 is a modest 57.40% while over the next 5 years, the company’s earnings are expected to increase by 22.30%.

RRC Dividends

Range Resources Corporation is expected to release its next earnings report between October 27 and November 01 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Range Resources Corporation (NYSE:RRC)’s Major holders

Insiders own 2.59% of the company shares, while shares held by institutions stand at 92.53% with a share float percentage of 94.98%. Investors are also buoyed by the number of investors in a company, with Range Resources Corporation having a total of 363 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 39.84 million shares worth more than $411.58 million. As of Mar 30, 2021, Blackrock Inc. held 15.35% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 27.02 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $279.08 million and represent 10.41% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF. As of May 30, 2021, the former fund manager holds about 6.68% shares in the company for having 17.34 million shares of worth $235.14 million while later fund manager owns 9.98 million shares of worth $135.34 million as of May 30, 2021, which makes it owner of about 3.84% of company’s outstanding stock.

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