As of Thursday close, Range Resources Corporation’s (NYSE:RRC) stock was down -$0.42, moving down -1.38 percent to $29.98. The average number of shares traded per day over the past five days has been 2,692,360 shares. 1 time new highs have been achieved over the past 5 days, with a -$3.28 fall in that time frame. In the last twenty days, the average volume was 2,143,145, while in the previous 50 days, it was 2,479,184.
Since last month, RRC stock retreated -5.49%. Shares of the company fell to $29.85 on 09/21/23, the lowest level in the past month. A 52-week high of $34.54 was reached on 08/09/23 after having rallying from a 52-week low of $22.61. Since the beginning of this year, RRC’s stock price has risen by 19.82% or $4.96, and marked a new high 20 times. However, the stock has declined by -13.20% since its 52-week high.
RRC stock investors should be aware that Range Resources Corporation (RRC) stock had its last reported insider trading activity 99 days ago on Jun 15. Spiller Reginal, the Director of the company, disposed of 1,950 shares for $26.80 on Jun 15. It resulted in a $52,260 divestment by the insider. Ginn Dori sold 32,000 shares at an average price of $27.09 on Jun 01. The insider now owns 250,738 shares following the transaction. On May 18, SVP, Principal Accting Officer Ginn Dori sold 40,000 shares at $29.49 apiece. The transaction was valued at $1,179,600.
Valuation Metrics
Right now, Range Resources Corporation (RRC) has a P/E ratio of about 4.36. The stock’s beta is 2.13. Besides these, the trailing price-to-sales (P/S) ratio of 1.84, the price-to-book (PB) ratio of 2.11, and the price-to-cash flow ratio of 6.36 may also be considered.
The latest dividend of $0.08 per share was paid out, remained unchanged from last year’s $0.08. On Tuesday August 30 2022, a $0.06 dividend increase was announced.
Financial Health
In the three months ended June 29, Range Resources Corporation’s quick ratio stood at 0.90, while its current ratio was 0.90, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.52, and the total debt-to-equity ratio was 0.52. On the profitability front, the trailing twelve-month gross margin is 88.90% percent. In the year ended June 29, EBITDA margin amounted to 61.89%, whereas operating margins totaled 42.50%. Based on annual data, RRC earned $1.68 billion in gross profit and brought in $4.15 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 53.80%. Return on equity (ROE) for the past 12 months was 56.60%.
In Range Resources Corporation’s quarter-end financial report for June 29, it reported total debt of $9.51 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. RRC’s revenue fell -16.14% to $1.11 billion during the quarter, while net income inched up to $1.63 billion. While analysts expected Range Resources Corporation to report $0.25 quarterly earnings, the actual figure was $0.3 per share. During the quarter, the company generated $187.6 million in EBITDA. The liabilities of Range Resources Corporation were 3.4 billion at the end of its most recent quarter ended June 29, and its total debt was $1.79 billion. The value of shareholders’ equity is $241.35 million.
Technical Picture
This quick technical analysis looks at Range Resources Corporation’s (RRC) price momentum. With a historical volatility rate of 32.22%, the RSI 9-day stood at 29.59% on 21 September.
With respect to its five-day moving average, the current Range Resources Corporation price is down by -9.86% percent or -$3.28. At present, RRC shares trade -2.95% below its 20-day simple moving average and +13.35% percent above its 100-day simple moving average. However, the stock is currently trading approximately +1.39% above its SMA50 and +11.70% above its SMA200.
Stochastic coefficient K was 2.71% and Stochastic coefficient D was 7.90%, while ATR was 0.94. Given the Stochastic reading of 3.23% for the 14-day period, the RSI (14) reading has been calculated as 36.60%. As of today, the MACD Oscillator reading stands at -1.21, while the 14-day reading stands at -1.46.
Analyst Ratings
Scotiabank upgraded its rating on Range Resources Corporation (NYSE: RRC) to a Sector outperform in a note to investors on September 13, 2023. The analysts firm previously had a Sector perform rating on the stock.Range Resources Corporation (RRC) has been rated Overweight by analysts. According to 2 brokerage firms, RRC is a sell, and 12 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Range Resources Corporation stock as buy, with 12 recommending it as overweight.
With a median target price of $35.00, the current consensus forecast for the stock is $20.00 – $49.00. Based on these forecasts, analysts predict Range Resources Corporation (RRC) will achieve an average price target of $35.36.
