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Is Range Resources Corporation (RRC) Ready for a Bullish Surge?

Matt MonacoAvatar
Written by Matt Monaco Reviewed by Jack Kellogg Fact-checked by Tim Sykes
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Range Resources Corporation’s stock momentum is likely bolstered by news of significant improvements in shale production and strategic partnerships, signaling robust future growth; on Wednesday, Range Resources Corporation’s stocks have been trading up by 6.97 percent.

Turning Heads with Stock Price Updates

  • Citi analysts revised Range Resources’ price target from $33 to $38, forecasting moderate optimism for the energy sector’s future. The cash flow stability and buybacks are seen as positive signs.
  • RBC Capital upgraded RRC’s price target from $35 to $40, expressing hope for better natural gas future pricing despite current soft fundamentals.
  • UBS shifted Range Resources to a Neutral rating from Sell, setting a $35 price target, reflecting a balanced, hold-worthy outlook from investors.

Candlestick Chart

Live Update At 17:20:46 EST: On Wednesday, December 11, 2024 Range Resources Corporation stock [NYSE: RRC] is trending up by 6.97%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

Range Resources Corporation: Financial Highlights

In the world of stocks, numbers do some talking. Range Resources Corporation (RRC) presents a tale woven with both challenges and prospects. The company’s key ratios paint a picture of a disciplined profit margin at about 14.76%. What stands out is a considerable gross margin of 133.3%, hinting at a sturdy cushion against unexpected expenses. As millionaire penny stock trader and teacher Tim Sykes says, “The goal is not to win every trade but to protect your capital and keep moving forward.” This philosophy can guide traders as they navigate the intricate dynamics presented by such figures.

Diving deeper, RRC reported a significant revenue of around $3.37B for the recent period, also noting a decrease in revenue growth over the past few years. Interestingly, the Price-to-Earnings (PE) ratio sits at 16.91, a number that suggests moderate investor confidence. When aiming for financial health, RRC’s debt-to-equity sits comfortably at 0.19, indicating a well-managed debt landscape.

Earnings Report Snapshot

More Breaking News

In Range Resources’ latest earnings report, the company showcased a sturdy performance. With $615M in total revenue and a net income of about $50M, RRC continues to capture attention. Additionally, free cash flow sums up to $99.7M, bolstering the company’s capability for future opportunities. There was, however, a sizeable sum, over $146M, employed towards capital expenditure. This is RRC’s way of investing in its long-term growth. With a leverage ratio at 1.9, the company shows it maintains a strength that can weather financial storms.

Financial Nut and Bolts

When making sense of RRC’s financial metrics, it is clear that their focus is on sustaining profitability while maintaining cash flow. The current ratio, an indicator of liquidity, is at 0.5, resonating with cautious short-term solvency. Interest coverage at 9.4 mirrors a sound ability to meet debt obligations without hiccups.

Furthermore, shareholder returns haven’t dimmed, as seen in a dividend rate of $0.32 per share, revealing an optimistic nod to stakeholders. The PE ratio, even though moderate, and the priceto book figures, hovering around 2.12, suggest investors may find room for undervaluation.

What the Data Tells Us

Considering the stock chart data, RRC has shown some notable high points, particularly on Dec 11, when the closing price reached nearly $36. An increase from recent trading days indicates a positive spike in investor enthusiasm. Throughout the period, the RRC stock showed resilience, hovering mostly in a steady band, which might tip its hat to investor confidence amidst earnings forecasts and sector growth.

Market Reactions to Current Updates

Everyone’s eyes are on the energy sector. Analysts have allowed a dual nature of caution and optimism to seep into their perceptions. With current-day soft natural gas market fundamentals, a cautious approach will offer a firm foothold. The price targets inching higher put Range Resources in an intriguing boat. Analysts from Citi and RBC have hedged bets on improved energy prices, with measures like stock buybacks waiting to steer the course clear.

Looking Forward: Is RRC on a Growth Trajectory?

What can patrons expect in the coming months? If the winds of fortune sway positively, Range Resources may find itself heralded as the torchbearer of good prospects. With positive revisions in price targets, traders might wonder if it’s time to establish stronger positions. This could mark a beacon for potential growth, even against the backdrop of a sometimes tumultuous market sphere.

Speculation surrounding RRC is just that—speculation; however, with sound financial footing, it may nudge some portfolios toward stability. As millionaire penny stock trader and teacher Tim Sykes says, “You must adapt to the market; the market will not adapt to you.” As newfound optimism takes hold, keeping an eye on market cues could reveal when to make strategic moves, possibly turning this quiet energy giant into a more prominent player.

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

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Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”