Shares of oil and gas company Range Resources rose 3% Monday, 3% the day before that and 2.5% the day before that. In fact, Range Resources stock has been on fire since it bottomed at $1.61 a share five years ago as the pandemic started. Monday afternoon it closed at 39, a nearly 2,400% increase in that time span.
Also on Monday, RRC stock got an IBD Relative Strength (RS) Rating upgrade from 80 to 85, putting Range Resources into an elite group of stocks. Market research shows that the market's biggest winners typically have an 80 or higher RS Rating as they begin their biggest climbs.
Range Resources Other Ratings Also Top-Notch
Range Resources also sports a 92 EPS Rating, putting it in the top 8% of all stocks for recent quarters and long-term profit growth. It carries a 91 Composite Rating. The Composite score combines five separate proprietary ratings into one. The best growth stocks have a Composite Rating of 90 or better.
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Range Resources reported a 39% increase in earnings last quarter to 96 cents per share. Revenue grew 7% to $690.6 million.
Analyst consensus is that it will only get better from here. Range Resources is projected to report a 53% leap in EPS this quarter on 39% higher revenue. Equally strong double-digit growth is projected to the end of this year, according to FactSet.
Among Top 5 In Its Industry
Range Resources is trying to complete a cup without handle pattern with a 41.25 buy point. See if the stock can clear the breakout price in volume at least 40% above average.
Range Resources earns the No. 3 rank among its peers in the 54-stock Oil&Gas-U.S. Exploration & Production industry group. Antero Resources is the top-ranked stock in the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
Please follow James DeTar on Twitter @JimDeTar
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