Is Range Resources Corporation (RRC) Good For Your Portfolio?

Range Resources Corporation (NYSE:RRC) saw an upside of 0.95% to close Friday at $23.38 after adding $0.22 on the day. The 5-day average trading volume is 6,488,280 shares of the company’s common stock. It has gained $25.38 in the past week. An average of 6,293,170 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,177,256.

RRC’s 1-month performance is 35.22% or $6.12 on its low of $16.88 reached on 09/09/21. The company’s shares have touched a 52-week low of $5.93 and high of $25.38, with the stock’s rally to the 52-week high happening on 10/04/21. YTD, RRC has achieved 248.96% or $16.68. However, the current price is down -7.88%% from the 52-week high price.

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Insider Transactions

On Sep 16, 25 days have gone by since the last insider trading activity for Range Resources Corporation (RRC). Ginn Dori (SVP, Principal Accting Officer) most recently sold 20,000 shares at $19.45 per share on Sep 16. This transaction cost the insider $389,000. SVP, Principal Accting Officer, Ginn Dori, sold 25,328 shares at a price of $14.01 on May 20. Then, on May 20, SVP & General Counsel Poole David P sold 36,986 shares at a price of $14.01 per share. This transaction amounted to $518,174.

Valuation Metrics

Range Resources Corporation (RRC) has a trailing price-to-earnings (P/E) ratio of 18.90 for the broader industry and 19.33 for the sector. The company’s PE ratio for the last five years has touched a high of 293.62 and a low of 9.485. RRC stock has a beta of 2.30. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.61 while the price-to-book (PB) in the most recent quarter is 3.72, with the price to cash flow ratio at 17.33.

Range Resources Corporation’s quick ratio for the period ended June 29 was 0.40, with the current ratio over the same period at 0.40 meaning that RRC stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.99, while the total debt to equity was 1.99. In terms of profitability, the gross margin trailing 12 months is 84.60%. The trailing 12-month EBITDA margin is 9.92% while for the period ending June 29; Range Resources Corporation’s operating margin was -13.10%. The firm’s gross profit as reported stood at -$650.19 million against revenue of $1.97 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected RRC to announce $0.24 per share in earnings in its latest quarter, but it posted $0.24, representing a 0.00% surprise. EBITDA for the quarter stood at more than -$7.91 million. RRC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 4.71 billion, with total debt at $3.07 billion. Shareholders hold equity totaling $259.78 million

Technical Picture

Let’s look briefly at Range Resources Corporation (RRC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 65.45% to suggest the stock is trending Neutral, with historical volatility in this time period at 60.96%.

The stock’s 5-day moving average is $23.54, reflecting a +1.43% or $0.33 change from its current price. RRC is currently trading +34.99% above its 20-day SMA, +68.57% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +54.32% and +240.82% respectively.

Stochastic %K and %D was 67.92% and 72.79% and the average true range (ATR) pointed at 1.31. The RSI (14) points at 67.06%, while the 14-day stochastic is at 73.12% with the period’s ATR at 1.22. The stock’s 9-day MACD Oscillator is pointing at -0.01 and 1.10 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Range Resources Corporation (NYSE: RRC), JP Morgan upgraded it to a Neutral rating. They previously had an Underweight rating on the stock. Analysts offering their rating for RRC stock have a consensus rating for the stock as Hold. Currently, 2 brokerage advisors rate RRC as a “sell,”, while 17 advise that investors “Hold.” 2 analysts have rated the stock as underweight. 1 rates the stock as overweight while 5 have offered a “buy” rating.

What is RRC’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $16.00 and a high of $31.00, with their median price target at $21.00. Looking at these predictions, the average price target given by analysts is for Range Resources Corporation (RRC) stock is $21.25.


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