In today’s recent session, 0.78 million shares of the Range Resources Corporation (NYSE:RRC) have been traded, and its beta is 1.93. Most recently the company’s share price was $26.29, and it changed around -$0.63 or -2.34% from the last close, which brings the market valuation of the company to $8.06B. RRC at last check was trading at a discount to its 52-week high of $37.44, offering almost -42.41% off that amount. The share price’s 52-week low was $12.37, which indicates that the recent value has risen by an impressive 52.95% since then. We note from Range Resources Corporation’s average daily trading volume that its 10-day average is 5.31 million shares, with the 3-month average coming to 4.89 million.
Range Resources Corporation stock received a consensus recommendation rating of a Hold, based on a mean score of 2.60. If we narrow it down even further, the data shows that 2 out of 24 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 13 recommended RRC as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Range Resources Corporation is expected to report earnings per share of $1.09 for the current quarter.
Range Resources Corporation (NYSE:RRC) trade information
Instantly RRC has been showing red trend so far today with a performance of -2.34% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 31.34 on Tuesday, 06/21/22 increased the stock’s daily price by 16.11%. The company’s shares are currently up 50.98% year-to-date, but still down -16.91% over the last five days. On the other hand, Range Resources Corporation (NYSE:RRC) is -4.27% down in the 30-day period. We can see from the shorts that 17.01 million shares have been sold at a short interest cover period of 3.45 day(s).
The consensus price target as assigned by Wall Street analysts is $40.25, which translates to bulls needing to increase their stock price by 34.68% from its current value. Analyst projections state that RRC is forecast to be at a low of $30.00 and a high of $67.00. In order for the stock price to hit the forecast high, the stock would need to plunge -154.85% from its current level, while the stock would need to crash -14.11% from its current level to reach the projected low.
Range Resources Corporation (RRC) estimates and forecasts
Range Resources Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 47.83 percent over the past six months and at a 130.20% annual growth rate that is well above the industry average of 26.50%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 354.20% in revenue this quarter, and will report an increase of 132.70% in the next quarter. The year-over-year growth rate is expected to be 15.30%, up from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $930.32 million in revenue for the current quarter. 10 analysts expect Range Resources Corporation to make $963.59 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $621.86 million and $795.4 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 49.60%. Forecasts for the next quarter put sales growth at 21.10%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 20.90%. Range Resources Corporation earnings are expected to increase by 154.60% in 2022, but the outlook is positive 23.90% per year for the next five years.
Range Resources Corporation’s next quarterly earnings report is expected to be released around July 25 and July 29.
Range Resources Corporation (NYSE:RRC)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.62% of Range Resources Corporation shares, and 87.15% of them are in the hands of institutional investors. The stock currently has a share float of 89.49%. Range Resources Corporation stock is held by 457 institutions, with FMR, LLC being the largest institutional investor. By Mar 30, 2022, it held 13.42% of the shares, which is about 36.21 million shares worth $1.1 billion.
Blackrock Inc., with 10.91% or 29.43 million shares worth $893.96 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF were the top two Mutual Funds as of Mar 30, 2022. The former held 7.18 million shares worth $218.18 million, making up 2.66% of all outstanding shares. On the other hand, iShares Core S&P Midcap ETF held roughly 7.13 million shares worth around $213.58 million, which represents about 2.64% of the total shares outstanding.