Range Resources Corp (NYSE:RRC) shares, rose in value on Friday, April 05, with the stock price down by -1.42% to the previous day’s close as strong demand from buyers drove the stock to $34.64.
Actively observing the price movement in the recent trading, the stock is buoying the session at $35.14. The value of beta (5-year monthly) is 1.83 whereas the PE ratio is 9.78 over 12-month period. Referring to stock’s 52-week performance, its high was $37.88, and the low was $23.92. On the whole, RRC has fluctuated by 5.71% over the past month.
With the market capitalization of Range Resources Corp currently standing at about $8.39 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 22, 2024 – Apr 26, 2024. The company’s Forward Dividend Ratio is 0.32, with its dividend yield at 0.92%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.58, which is expected to increase to $0.7 for fiscal year $2.25 and then to about $3.51 by fiscal year 2025. Data indicates that the EPS growth is expected to be -6.20% in 2025, while the next year’s EPS growth is forecast to be 56.00%.
Analysts have estimated the company’s revenue for the quarter at $684.33 million, with a low estimate of $612.42 million and a high estimate of $744 million. According to the average forecast, sales growth in current quarter could jump down -11.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.72 billion, representing an increase of 16.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that RRC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0.80, with the price of RRC currently trading nearly 3.83% and 10.12% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 67.10, while the 7-day volatility ratio is showing 1.64% which for the 30-day chart, stands at 2.07%. Furthermore, Range Resources Corp (RRC)’s beta value is 1.88, and its average true range (ATR) is 0.76.
A comparison of Range Resources Corp (RRC) with its peers suggests the former has fared considerably weaker in the market. RRC showed an intraday change of -1.42% in today’s session so far, and over the past year, it grew by 29.06%%.
Data on historical trading for Range Resources Corp (NYSE:RRC) indicates that the trading volumes over the past 10 days have averaged 2.12 million and over the past 3 months, they’ve averaged 2.64 million. According to company’s latest data on outstanding shares, there are 241.04 million shares outstanding.
Nearly 3.18% of Range Resources Corp’s shares belong to company insiders and institutional investors own 99.54% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 16.92 million shares as on Mar 15, 2024, resulting in a short ratio of 5.6. According to the data, the short interest in Range Resources Corp (RRC) stood at 6.99% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 17.4 million. The stock has risen by 13.80% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RRC stock heading into the next quarter.
