During the recent session, Range Resources Corporation (NYSE:RRC)’s traded shares were 1.65 million, with the beta value of the company hitting 2.11. At the last check today, the stock’s price was $29.44, reflecting an intraday loss of -1.21% or -$0.36. The 52-week high for the RRC share is $37.44, that puts it down -27.17 from that peak though still a striking 23.2% gain since the share price plummeted to a 52-week low of $22.61. The company’s market capitalization is $7.23B, and the average intraday trading volume over the past 10 days was 5.14 million shares, and the average trade volume was 4.40 million shares over the past three months.
Range Resources Corporation (RRC) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.40. RRC has a Sell rating from 2 analyst(s) out of 29 analysts who have looked at this stock. 12 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 13 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.4.
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Range Resources Corporation (NYSE:RRC) trade information
Range Resources Corporation (RRC) registered a -1.21% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.21% in intraday trading to $29.44 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -0.17%, and it has moved by 18.95% in 30 days. Based on these gigs, the overall price performance for the year is 1.55%. The short interest in Range Resources Corporation (NYSE:RRC) is 8.79 million shares and it means that shorts have 2.42 day(s) to cover.
The consensus price target of analysts on Wall Street is $32.12, which implies an increase of 8.34% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $20.00 and $48.00 respectively. As a result, RRC is trading at a discount of -63.04% off the target high and 32.07% off the low.
Range Resources Corporation (RRC) estimates 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 down -2.58% during the last six months, with a year-to-date growth rate less than the industry average at -53.82% against -24.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -68.50% this quarter and then drop -65.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -40.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $611.51 million as predicted by 15 analyst(s). Meanwhile, a consensus of 15 analyst(s) estimates revenue growth to $662.95 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.36 billion and $1.1 billion respectively. In this case, analysts expect current quarter sales to shrink by -54.90% and then drop by -39.90% 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 202.20%. While earnings are projected to return 191.40% in 2023, the next five years will return -2.77% per annum.
Range Resources Corporation is due to release its next quarterly earnings between July 24 and July 28. 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 Range Resources Corporation is 0.32, with the dividend yield indicating at 1.07 percent, continuing the trend of increasing dividends in recent years.
Range Resources Corporation (NYSE:RRC)’s Major holders
Range Resources Corporation insiders own 2.91% of total outstanding shares while institutional holders control 91.99%, with the float percentage being 94.75%. FMR, LLC is the largest shareholder of the company, while 531 institutions own stock in it. As of Mar 30, 2023, the company held over 28.96 million shares (or 12.00% of all shares), a total value of $766.67 million in shares.
The next largest institutional holding, with 25.17 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.43% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $666.3 million.
Also, the Mutual Funds coming in first place with the largest holdings of Range Resources Corporation (RRC) shares are Fundamental Investors Inc and iShares Core S&P Midcap ETF. Data provided on Mar 30, 2023 indicates that Fundamental Investors Inc owns about 8.69 million shares. This amounts to just over 3.60 percent of the company’s overall shares, with a $230.09 million market value. The same data shows that the other fund manager holds slightly less at 7.52 million, or about 3.12% of the stock, which is worth about $202.72 million.