Range Resources Corporation [RRC] Stock trading around $27.43 per share: What’s Next?
Range Resources Inc. [NYSE: RRC] The stock went on a downward trajectory above -5.58% on Thursday, which represents a one-week price drop below -12.67%. Company report on August 30 2022 This range declares quarterly dividends.
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RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that its Board of Directors has declared a quarterly cash dividend on its common stock for the third quarter. A dividend of $0.08 per common share is paid on September 30, 2022, to shareholders of record at the close of business on September 15, 2022.
RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading independent US natural gas and natural gas liquids (NGL) company with operations focused on stack propulsion projects in the Appalachian Basin. The company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.
Over the past 12 months, RRC stock is up 45.75%. Range Resources Corporation’s one-year forecast is for a potential rise of 32.5. RRC stock currently has an average equity rating of 2.50, and is trading near a bullish pattern in the stock market.
The stock has a market capitalization of $7.63 billion, with 262.89 million shares outstanding and 254.95 million shares in current float. Compared to an average trading volume of 4.48 million shares, RRC stock reached a trading volume of 464,8501 on the last trading day, which is why market watchers consider the stock to be active.
Educator’s opinion of Range Resources [RRC]:
Based on careful and fact-backed analysis by Wall Street experts, the current consensus on the RRC stock price target is $40.64 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for RRC stock is a set recommendation at 2.50. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.
Scotiabank made an estimate for Range Resources Corporation shares, keeping their opinion of the stock as the sector performer, with their previous recommendation back on July 25, 2022. While these analysts held the previous recommendation, Citigroup raised their target price to Neutral. The new price target note was released on July 21, 2022, which is the official target price for Range Resources Corporation’s stock. Previously, the target price had received another increase to $25, while MKM Partners analysts maintained a neutral rating on RRC stock. On July 11, 2022, analysts raised their price target for RRC shares from 44 to 49.
The Average True Range (ATR) for Range Resources Corporation is set at 1.69, with the price-to-sales ratio for RRC stock in the last twelve months being 1.59. The price-to-book ratio for the last quarter was 3.38, with the price-to-cash ratio for the stock in the same quarter set at 0.00. The rate to RRC free cash flow for the past 12 months was 6.15.
RRC stock performance analysis:
Range Resources Inc. [RRC] It fell into the red at the end of last week, fell in a negative direction and fell by -12.67. With this latest performance, RRC shares are down -19.28% over the past four-week period, and are also down -3.42% over the past six months – not to mention a 45.75% rise in the last year of trading.
Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for the RRC stock for the last two weeks was set at 35.00, with the RSI for the last one trading at 28.96, and the three-week RSI set at 39.41 for Range Resources Corporation [RRC]. The current moving average for the last 50 trading days for this stock is 31.67 while it recorded at 29.27 for the last trading week, and 27.18 for the last 200 days.
An insight into the fundamentals of Range Resources Corporation:
Operating margin for any stock indicates how profitable the investment is, Range Resources Corporation [RRC] The stock currently has an operating margin of +36.46 and a gross margin of +42.98. Range Resources Corporation’s net margin is currently at +11.20.
The return on equity for this stock increased to 21.54, with the return on assets remaining at 5.61.
The Range Resources Corporation’s liquidity data is also interesting, with the current ratio set at 0.30.
RRC Stock EPS
The company’s progress can be seen through the prism of the EPS growth rate, while Wall Street analysts focus on forecasting the 5-year EPS growth rate for RRC. When it comes to the stated value, analysts expect Range Resources Corporation’s 5-year EPS growth rate to rise to 36.99%.
Range Resources Inc [RRC] Insiders’ position details
There are currently approximately $6,095 million, or 87.30% of RRC’s stock, in the hands of institutional investors. The three largest institutional owners of RRC shares are: FMR LLC with ownership of 40,468,710, which is approximately 11.77% of the company’s market capitalization and about 2.10% of the total institutional ownership; VANGUARD GROUP INC, which owns 25,024,362 shares of stock with an approximate value of $686.42 million in RRC stock; and BLACKROCK INC. , currently with $683.01 million in RRC shares with ownership of approximately -15.38% of the company’s market capitalization.
Positions in Range Resources Corporation shares held by institutional investors increased at the end of July and at the time of the July report, as 172 institutional investors consolidated their positions in Range Resources Corporation [NYSE:RRC] About 25281972 shares. In addition, 184 investors decreased positions by about 31,042,831 shares, while 54 investors held positions with 165,889,709 shares. The said changes put institutional holdings at 222,214,512 shares, according to the latest report from the Securities and Exchange Commission. RRC had 65 new institutional investments totaling 6,030,230 shares, while 61 institutional investors sold positions of 4,135,768 shares during the same period.