Range Resources Corp (NYSE: RRC)’s stock price has soared by 2.38 in relation to previous closing price of 35.27. Nevertheless, the company has seen a gain of 3.02% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-05 that FORT WORTH, Texas, April 05, 2024 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that its first quarter 2024 financial results news release will be issued Tuesday, April 23 after the close of trading on the New York Stock Exchange.
Is It Worth Investing in Range Resources Corp (NYSE: RRC) Right Now?
The price-to-earnings ratio for Range Resources Corp (NYSE: RRC) is above average at 10.20x. The 36-month beta value for RRC is also noteworthy at 1.85. There are mixed opinions on the stock, with 16 analysts rating it as a “buy,” 8 rating it as “overweight,” 9 rating it as “hold,” and 0 rating it as “sell.”
The public float for RRC is 234.41M, and at present, short sellers hold a 6.33% of that float. The average trading volume of RRC on April 23, 2024 was 2.53M shares.
RRC’s Market Performance
RRC’s stock has seen a 3.02% increase for the week, with a 9.26% rise in the past month and a 22.86% gain in the past quarter. The volatility ratio for the week is 2.28%, and the volatility levels for the past 30 days are at 2.24% for Range Resources Corp The simple moving average for the last 20 days is 3.34% for RRC’s stock, with a simple moving average of 12.92% for the last 200 days.
Analysts’ Opinion of RRC
Many brokerage firms have already submitted their reports for RRC stocks, with Scotiabank repeating the rating for RRC by listing it as a “Sector Perform.” The predicted price for RRC in the upcoming period, according to Scotiabank is $45 based on the research report published on April 11, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see RRC reach a price target of $35. The rating they have provided for RRC stocks is “Underweight” according to the report published on April 10th, 2024.
RRC Trading at 9.89% from the 50-Day Moving Average
After a stumble in the market that brought RRC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.67% of loss for the given period.
Volatility was left at 2.24%, however, over the last 30 days, the volatility rate increased by 2.28%, as shares surge +8.73% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +26.88% upper at present.
During the last 5 trading sessions, RRC rose by +3.02%, which changed the moving average for the period of 200-days by +28.69% in comparison to the 20-day moving average, which settled at $35.09. In addition, Range Resources Corp saw 18.63% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RRC starting from Ginn Dori, who sale 25,000 shares at the price of $37.23 back on Nov 03 ’23. After this action, Ginn Dori now owns 60,804 shares of Range Resources Corp, valued at $930,750 using the latest closing price.
Ginn Dori, the SVP, Principal Accting Officer of Range Resources Corp, sale 25,000 shares at $37.35 during a trade that took place back on Nov 02 ’23, which means that Ginn Dori is holding 85,804 shares at $933,750 based on the most recent closing price.
Stock Fundamentals for RRC
Current profitability levels for the company are sitting at:
- 0.2 for the present operating margin
- 0.31 for the gross margin
The net margin for Range Resources Corp stands at 0.34. The total capital return value is set at 0.08. Equity return is now at value 25.73, with 11.39 for asset returns.
Based on Range Resources Corp (RRC), the company’s capital structure generated 0.32 points at debt to capital in total, while cash flow to debt ratio is standing at 0.54. The debt to equity ratio resting at 0.48. The interest coverage ratio of the stock is 4.21.
Currently, EBITDA for the company is 898.76 million with net debt to EBITDA at 1.78. When we switch over and look at the enterprise to sales, we see a ratio of 4.04. The receivables turnover for the company is 9.03for trailing twelve months and the total asset turnover is 0.35. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.49.
Conclusion
In summary, Range Resources Corp (RRC) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
