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Wednesday, September 22, 2021

Range Resources Corporation (NYSE:RRC) on the Path to Profitability

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Range Resources Corporation (RRC) shares are trading at higher $8.69 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $7.82.

To add more color to this target, the company’s high over the last year is $9.37 and the low is $1.61. Over the last 52 weeks, RRC is up 128.08% while the S&P 500 is up 14.46%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, RRC reported a profit of $-144.27 million. Range Resources Corporation also saw revenues decrease to $376.55 million. In addition, RRC has free cash flow of -$67.14 million as of 06-2020. The company’s EBITDA came in at -$37.9 million which compares well with its peers.

RRC booked profit margins of -92.70%, its Return on Equity (ROE) is -64.80%, and its Return on Assets is -25.70%. All told, it is clear that, RRC needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. RRC has a short ratio of 7.09 and outstanding shares of 239.47M.

Company Outlook

RRC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 3.72 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -7.39. Range Resources Corporation RRC also noted assets of $6.4 billion at the end of the last quarter. Investors should also keep an eye on sector updates as RRC has historically followed its peers on positive news.

All told, Range Resources Corporation RRC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, RRC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Range Resources Corporation RRC is now commanding a market cap of 2.32B and a float of 234.93M. RRC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of RRC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in RRC, either long or short, and we have not been compensated for this article.

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