Range Resources Corp (NYSE: RRC)’s stock price has increased by 0.16 compared to its previous closing price of 37.31. However, the company has seen a 3.49% increase in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-25 that Range Resources’ (RRC) better-than-expected Q1 earnings are driven by higher-than-projected gas equivalent production. But, lower realizations of commodity prices partially offset the positives.
Is It Worth Investing in Range Resources Corp (NYSE: RRC) Right Now?
Range Resources Corp (NYSE: RRC) has a price-to-earnings ratio of 19.01x that is above its average ratio. Additionally, the 36-month beta value for RRC is 1.86. 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 234.92M and currently, short sellers hold a 6.81% ratio of that float. The average trading volume of RRC on April 30, 2024 was 2.65M shares.
RRC’s Market Performance
RRC’s stock has seen a 3.49% increase for the week, with a 8.54% rise in the past month and a 26.34% gain in the past quarter. The volatility ratio for the week is 2.58%, and the volatility levels for the past 30 days are at 2.34% for Range Resources Corp The simple moving average for the last 20 days is 4.42% for RRC stock, with a simple moving average of 16.12% for the last 200 days.
Analysts’ Opinion of RRC
Many brokerage firms have already submitted their reports for RRC stocks, with RBC Capital Mkts repeating the rating for RRC by listing it as a “Sector Perform.” The predicted price for RRC in the upcoming period, according to RBC Capital Mkts is $39 based on the research report published on April 26, 2024 of the current year 2024.
Scotiabank, on the other hand, stated in their research note that they expect to see RRC reach a price target of $45. The rating they have provided for RRC stocks is “Sector Perform” according to the report published on April 11th, 2024.
Barclays gave a rating of “Underweight” to RRC, setting the target price at $35 in the report published on April 10th of the current year.
RRC Trading at 10.83% 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 -2.30% of loss for the given period.
Volatility was left at 2.34%, however, over the last 30 days, the volatility rate increased by 2.58%, as shares surge +7.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.03% upper at present.
During the last 5 trading sessions, RRC rose by +3.49%, which changed the moving average for the period of 200-days by +28.29% in comparison to the 20-day moving average, which settled at $35.91. In addition, Range Resources Corp saw 22.77% 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 Kavanaugh Ashley, who sale 15,978 shares at the price of $37.75 back on Apr 25 ’24. After this action, Kavanaugh Ashley now owns 22,370 shares of Range Resources Corp, valued at $603,131 using the latest closing price.
Ginn Dori, the SVP, Principal Accting Officer of Range Resources Corp, sale 25,000 shares at $37.23 during a trade that took place back on Nov 03 ’23, which means that Ginn Dori is holding 60,804 shares at $930,750 based on the most recent closing price.
Stock Fundamentals for RRC
Current profitability levels for the company are sitting at:
- 0.15 for the present operating margin
- 0.25 for the gross margin
The net margin for Range Resources Corp stands at 0.21. The total capital return value is set at 0.05. Equity return is now at value 13.34, with 6.68 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 0.45. The debt to equity ratio resting at 0.48. The interest coverage ratio of the stock is 2.84.
Currently, EBITDA for the company is 898.76 million with net debt to EBITDA at 2.19. When we switch over and look at the enterprise to sales, we see a ratio of 4.56. The receivables turnover for the company is 13.32for trailing twelve months and the total asset turnover is 0.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.35.
Conclusion
In conclusion, Range Resources Corp (RRC) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
