Range Resources Corporation (RRC): Insights At A Glance


BlackRock Fund Advisors has recently announced that it has increased stake in Range Resources Corporation (NYSE:RRC) by 21.48%. After grabbing 29.99 million shares, the institutional investor is now in possession of 5.3 million shares of the Energy Company. The new investment brought the stake of investor firm to 11.73% having worth around $193.76 million. Moreover, The Vanguard Group, Inc. increased its share by 1.02 million to have a control over 25.54 million shares. And Dimensional Fund Advisors LP raised its holdings to 1.13 million shares by acquiring 14.73 million shares or 5.76% of the stake.

Range Resources Corporation (RRC) concluded trading on 08/26/20 at a closing price of $7.60, with 6.19 million shares of worth about $47.02 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -14.03% during that period and on Wednesday the price saw a loss of about -8.32%. Currently the company’s common shares owned by public are about 239.47M shares, out of which, 230.48M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 26 analysts are covering the RRC stock and their offered price forecasts bring an average price target of $7.29. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $14.00 and could fall to a lowest price of $4.00. Analysts also issued an outlook of 3.10 for the Range Resources Corporation stock for next 12 months. The stock’s current price level is -8.57% below of average price target set by the analysts, while a dip to estimated low would result in loss of -90.0 for the stock. However, touching the estimated high of $14.00 would mean a gain of 45.71% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 45 times over the past 12 months. They bought 3,415,024 shares in 38 of the transactions. In 7 selling transactions, insiders dumped 149,015 shares.

iShares Core S&P Small Cap ETF, SPDR S&P Oil & Gas Exploration &, and Contrarius ICAV – Global Equity F are the top 3 mutual funds which are holding stakes in Range Resources Corporation iShares Core S&P Small Cap ETF is currently holding 13.25 million shares of worth totaling $85.59 million. The company recently came buying 83295.0 shares which brought its stake up to 5.18% of the company’s outstanding shares. SPDR S&P Oil & Gas Exploration & sold 21594.0 shares, after which its hold over company’s outstanding shares shrunk to 3.58%, leaving 9.17 million shares with the mutual fund that have a worth of about $59.22 million. Contrarius ICAV – Global Equity F, after buying 6.41 million shares, have now control over 2.51% of the stake in the company. It holds 6.41 million shares of worth $41.41 million.

Range Resources Corporation (NYSE: RRC) started trading at $8.20, below -$0.09 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $7.60, or with a loss of -8.32%. Stock saw a price change of -14.03% in past 5 days and over the past one month there was a price change of 22.58%. Year-to-date (YTD), RRC shares are showing a performance of 56.70% which increased to 124.19% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.61 but also hit the highest price of $9.37 during that period. While comparing its average daily trading volume of 8.14 million shares, we see that about 6.19 million changed hands on the day. The stock is currently trading -4.43% below its 20-day simple moving average (SMA20), while that difference is up 9.47% for SMA50 and it goes to 55.40% higher than SMA200.

BlackRock Fund Advisors acquired 29.99 million shares of Range Resources Corporation having value of about $193.76 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 5.3 million shares in the company valued at close to $40299562.4, or have control over 21.48% stake in the company. Holding of mutual funds in the company is about 49.26% while other institutional holders and individual stake holders have control over 53.51% and 20.15% of the stake respectively.

The stock has a current market capitalization of $2.01B and its 3Y-monthly beta is at 2.88. It has posted earnings per share of -$7.39 in the same period. It has Quick Ratio of 0.60 while making debt-to-equity ratio of 1.38. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RRC, volatility over the week remained 6.18% while standing at 6.70% over the month.

Analysts are in expectations that Range Resources Corporation (RRC) stock would likely to be making an EPS of -$0.03 in the current quarter, while forecast for next quarter ESPS is $0.06 and it is $0.65 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.16 which is $0.07 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 2.40% while it is estimated to increase by 1033.30% in next year. EPS is likely to grow at an annualized rate of 20.97% for next 5-years, compared to annual growth of -30.80% made by the stock over the past 5-years.

Analysts at 26 brokerage firms have issued recommendations for the Range Resources Corporation (RRC)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.10. Out of those 26 Wall Street analysts, 1 recommended a “Buy” rating, while 19 were in favor recommending the stock as a “Hold” and 5 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wolfe Research on August 12, 2020 offering an Outperform rating for the stock and assigned a target price of to it. Coverage by Credit Suisse stated Range Resources Corporation (RRC) stock as an Underperform in their note to investors on August 05, 2020, suggesting a price target of $4 for the stock. On July 23, 2020, Mizuho Initiated their recommendations, while on July 09, 2020, MKM Partners Upgrade their ratings for the stock with a price target of $9. Stock get an Equal weight rating from Wells Fargo on June 25, 2020.


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