The stock of Range Resources Corporation (NYSE:RRC) decreased by -$0.36 on Tuesday to finish at $31.93, down -1.11 percent. The last five days have seen an average of 2,194,480 shares of common stock traded. 20 times new highs were reached in the current year, with a gain of $6.91. The average number of shares traded over the last 20 days was 2,862,125, while the average volume over the last 50 days totaled 3,304,520.
RRC stock appreciated 10.56% since last month. On 07/17/23, the company’s shares reached a one-month low of $27.91. The stock touched a high of $36.38 on 08/09/23, after rallying from a low of $22.61 in 52 weeks. The price of RRC stock has risen by 27.62% or $6.91 this year, reaching a new high 20 times. Still, the stock price is down -12.23% from the 52-week high.
Insider Transactions
RRC stock investors should be aware that Range Resources Corporation (RRC) stock had its last reported insider trading activity 62 days ago on Jun 15. On Jun 15, Director Spiller Reginal sold 1,950 shares at $26.80 each. This transaction resulted in the insider making $52,260. On Jun 01, Ginn Dori sold 32,000 shares at a price of US$27.09. After the transaction, the insider now owns 250,738 shares. SVP, Principal Accting Officer Ginn Dori had earlier sold 40,000 shares on May 18 for $29.49 a share. The transaction was completed for $1,179,600.
Valuation Metrics
Range Resources Corporation (RRC) has a trailing price-to-earnings (P/E) ratio of 4.65. Beta for the stock is 2.12. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.89, the price-to-book (PB) ratio of 2.25, and the price-to-cash flow ratio of 6.54.
Company paid $0.08 per share in dividends, remained unchanged from $0.08 last year. A $0.06 dividend increase was reported on Tuesday August 30 2022.
Financial Health
For the recent quarter, Range Resources Corporation’s quick ratio was 0.90, while its current ratio was 0.90, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 0.52, and the total debt to equity ratio is 0.52. As far as profitability goes, gross margin for the trailing twelve months is 88.90% percent. Range Resources Corporation’s EBITDA margin for the recent year was 61.89%, whereas its operating margin stood at 42.50% for the same period. Based on annual data, it had gross profit of $1.68 billion and revenue of $4.15 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RRC’s return on assets (ROA) during the last 12 months has been 24.40%. There was a 53.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 56.60%.
Earnings Surprise
A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.63 billion, while revenues fell by -16.14% to $1.11 billion. EBITDA was $187.6 million for the quarter. At the end of Range Resources Corporation’s most recent quarter, its liabilities totaled 3.4 billion, while its total debt was $1.79 billion. Equity owned by shareholders amounts to $241.35 million.
Technical Picture
Here’s a quick look at Range Resources Corporation’s (RRC) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 51.17%, suggesting the stock is Neutral, with a 28.85% historical volatility rate.
The stochastic %K and %D were 50.13% and 58.59% respectively, while the average true range (ATR) was 0.95. Based on the 14-day stochastic reading of 37.71%, the RSI (14) reading is 56.48%. On the 9-day MACD Oscillator, the stock is at -0.53, and the 14-day reading is at 0.02.
Analyst Ratings
Range Resources Corporation (NYSE: RRC) was downgraded by Siebert Williams Shank to a a Hold rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Range Resources Corporation (RRC) an Overweight rating. RRC is a stock that is recommended for selling by 2 brokerage firms, while 13 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 1 rate it overweight and 11 others recommend it as a buy.
What is RRC’s price target for the next 12 months?
The current consensus forecast for the stock is between $20.00 and $48.00, with a median target price of $34.00. In analyzing these forecasts, the average price target given by analysts for Range Resources Corporation (RRC) is $34.08.
