Ranger Oil (ROCC) closed the most recent trading day at $50.27, moving -0.59% from the previous trading session. This change was narrower than the S&P 500's 2.38% loss on the day. Meanwhile, the Dow lost 1.94%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Prior to today's trading, shares of the company had gained 54.27% over the past month. This has outpaced the Oils-Energy sector's gain of 10.37% and the S&P 500's loss of 0.07% in that time.
Wall Street will be looking for positivity from Ranger Oil as it approaches its next earnings report date. In that report, analysts expect Ranger Oil to post earnings of $2.56 per share. This would mark year-over-year growth of 143.81%. Meanwhile, our latest consensus estimate is calling for revenue of $229.15 million, up 83.76% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.14 per share and revenue of $990.2 million, which would represent changes of +158.03% and +70.87%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Ranger Oil. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.47% higher. Ranger Oil is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Ranger Oil is holding a Forward P/E ratio of 3.58. Its industry sports an average Forward P/E of 6.07, so we one might conclude that Ranger Oil is trading at a discount comparatively.
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 includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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