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Boom Or Bust? Where Will Ranger Oil Corporation (NASDAQ: ROCC) Stock Go Next?

During the last session, Ranger Oil Corporation (NASDAQ:ROCC)’s traded shares were 0.45 million, with the beta value of the company hitting 2.82. At the end of the trading day, the stock’s price was $34.30, reflecting an intraday gain of 3.00% or $1.0. The 52-week high for the ROCC share is $53.59, that puts it down -56.24 from that peak though still a striking 56.82% gain since the share price plummeted to a 52-week low of $14.81. The company’s market capitalization is $1.47B, and the average intraday trading volume over the past 10 days was 0.34 million shares, and the average trade volume was 594.30K shares over the past three months.

Ranger Oil Corporation (ROCC) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. ROCC has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.61.

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Ranger Oil Corporation (NASDAQ:ROCC) trade information

Ranger Oil Corporation (ROCC) registered a 3.00% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 3.00% in intraday trading to $34.30 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is -9.88%, and it has moved by 7.96% in 30 days. Based on these gigs, the overall price performance for the year is 117.78%. The short interest in Ranger Oil Corporation (NASDAQ:ROCC) is 1.49 million shares and it means that shorts have 1.86 day(s) to cover.

The consensus price target of analysts on Wall Street is $58.20, which implies an increase of 41.07% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $48.00 and $71.00 respectively. As a result, ROCC is trading at a discount of -107.0% off the target high and -39.94% off the low.

Ranger Oil Corporation (ROCC) estimates and forecasts

Statistics show that Ranger Oil Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Ranger Oil Corporation (ROCC) shares have gone up 3.91% during the last six months, with a year-to-date growth rate more than the industry average at 138.87% against 25.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 148.60% this quarter and then jump 175.70% in the quarter after that. In the rating firms’ projections, revenue will increase 75.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $234.83 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $279 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $124.7 million and $141.06 million respectively. In this case, analysts expect current quarter sales to grow by 88.30% and then jump by 97.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -49.20%. While earnings are projected to return 111.50% in 2022, the next five years will return 31.00% per annum.

ROCC Dividends

Ranger Oil Corporation is due to release its next quarterly earnings between March 07 and March 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Ranger Oil Corporation is 0.30, with the dividend yield indicating at 0.87 percent, continuing the trend of increasing dividends in recent years.

Ranger Oil Corporation (NASDAQ:ROCC)’s Major holders

Ranger Oil Corporation insiders own 0.43% of total outstanding shares while institutional holders control 84.67%, with the float percentage being 85.04%. Blackrock Inc. is the largest shareholder of the company, while 251 institutions own stock in it. As of Mar 30, 2022, the company held over 3.32 million shares (or 15.69% of all shares), a total value of $114.68 million in shares.

The next largest institutional holding, with 1.37 million shares, is of State Street Corporation’s that is approximately 6.45% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $47.15 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ranger Oil Corporation (ROCC) 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 Jun 29, 2022 indicates that iShares Core S&P Smallcap ETF owns about 1.51 million shares. This amounts to just over 7.14 percent of the company’s overall shares, with a $49.64 million market value. The same data shows that the other fund manager holds slightly less at 0.87 million, or about 4.11% of the stock, which is worth about $28.59 million.

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