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Range Resources (RRC) Stock Moves -1.83%: What You Should Know

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Range Resources (RRC) closed at $35.34 in the latest trading session, marking a -1.83% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.38%. Meanwhile, the Dow lost 1.94%, and the Nasdaq, a tech-heavy index, lost 0.6%.

Coming into today, shares of the independent oil and gas company had gained 30.81% in the past month. In that same time, the Oils-Energy sector gained 10.37%, while the S&P 500 lost 0.07%.

Investors will be hoping for strength from Range Resources as it approaches its next earnings release. In that report, analysts expect Range Resources to post earnings of $1.11 per share. This would mark year-over-year growth of 362.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $931.04 million, up 114.17% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.65 per share and revenue of $3.66 billion, which would represent changes of +130.2% and +25.06%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Range Resources. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.15% lower within the past month. Range Resources currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Range Resources currently has a Forward P/E ratio of 7.74. Its industry sports an average Forward P/E of 6.07, so we one might conclude that Range Resources is trading at a premium comparatively.

Also, we should mention that RRC has a PEG ratio of 0.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.29 at yesterday's closing price.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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