Extremely important negative changes in investment behavior have recently occurred for Range Resources Corp. (NYSE: RRC): its shorter term price trend turned down, and the stock fell on very heavy volume.
Range Resources Corp. (NYSE: RRC). Significant negative changes in fundamentals have recently occurred: significant quarterly sales deceleration occurred, and significant quarterly earnings deceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
RRC’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Range Resources has a current Value Trend Rating of C (High Neutral). This VT Rating improved in recent days from C previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Range Resources has a good Appreciation Score of 80 but a neutral Power Rating of 42, with the High Neutral Value Trend Rating the result.
Recent Price Action
Range Resources Corp. (NYSE: RRC) stock closed at $33.47 on 6/21/24 after a modest decline of -1.7%. Moreover, trading volume in this decline was exceptionally high at 262% of normal. The stock has declined -9.6% during the last week and has performed in line with the market over the last nine months.
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