Range Resources Corporation (NYSE:RRC)’s traded shares stood at 3.04 million during the last session, with the company’s beta value hitting 2.16. At the close of trading, the stock’s price was $25.11, to imply an increase of 4.28% or $1.03 in intraday trading. The RRC share’s 52-week high remains $37.44, putting it -49.1% down since that peak but still an impressive 9.96% since price per share fell to its 52-week low of $22.61. The company has a valuation of $6.19B, with an average of 3.72 million shares in intraday trading volume over the past 10 days and average of 5.09 million shares over the past 3 months.
Analysts have given a consensus recommendation of a Hold for Range Resources Corporation (RRC), translating to a mean rating of 2.60. Of 27 analyst(s) looking at the stock, 2 analyst(s) give RRC a Sell rating. 1 of those analysts rate the stock as Overweight while 15 advise Hold as 8 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $1.21.
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Range Resources Corporation (NYSE:RRC) trade information
After registering a 4.28% upside in the last session, Range Resources Corporation (RRC) has traded red over the past five days. The stock hit a weekly high of 26.66 this Thursday, 03/16/23, jumping 4.28% in its intraday price action. The 5-day price performance for the stock is -4.63%, and -3.65% over 30 days. With these gigs, the year-to-date price performance is 0.36%. Short interest in Range Resources Corporation (NYSE:RRC) saw shorts transact 11.98 million shares and set a 3.29 days time to cover.
Analysts on Wall Street suggest a consensus price target of $32.57, implying an increase of 22.9% to the stock’s current value. The extremes give us $24.00 and $46.00 for target low and target high price respectively. As such, RRC has been trading -83.19% off suggested target high and 4.42% from its likely low.
Range Resources Corporation (RRC) estimates and forecasts
Looking at statistics comparing Range Resources Corporation share performance against respective industry, we note that the company has underperformed competitors. Range Resources Corporation (RRC) shares are -23.82% down over the last 6 months, with its year-to-date growth rate lower than industry average at -45.79% against -9.60%. Revenue is forecast to grow 26.00% this quarter before falling -15.30% for the next one. The rating firms project that company’s revenue will grow 20.70% compared to the previous financial year.
Revenue forecast for the current quarter as set by 13 analysts is $966.39 million. Meanwhile, for the quarter ending Mar 2023, a total of 14 analyst(s) estimate revenue growth to $906.63 million.Earnings reports from the last fiscal year show that sales brought in $1.14 billion and $986.66 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -15.30% before dropping -8.10% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 202.20% for the past 5-year period. While 2023 is set for a 191.40% return in earnings, projections for the next 5 years are at -8.61% annually.
Range Resources Corporation has its next earnings report out between April 24 and April 28. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Range Resources Corporation has a forward dividend ratio of 0.32, with the share yield ticking at 1.27% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Range Resources Corporation (NYSE:RRC)’s Major holders
Range Resources Corporation insiders hold 2.92% of total outstanding shares, with institutional holders owning 89.78% of the shares at 92.48% float percentage. In total, 89.78% institutions holds shares in the company, led by FMR, LLC. As of Sep 29, 2022, the company held over 31.68 million shares (or 13.11% of shares), all amounting to roughly $800.27 million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 25.14 million shares, or about 10.40% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $634.92 million.
We also have Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF as the top two Mutual Funds with the largest holdings of the Range Resources Corporation (RRC) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 7.48 million shares. This is just over 3.10% of the total shares, with a market valuation of $188.95 million. Data from the same date shows that the other fund manager holds a little less at 7.46 million, or 3.09% of the shares, all valued at about 186.63 million.