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The Company is engaged in the exploration, development and acquisition of oil and gas properties, primarily in the Southwestern, Appalachian and Gulf Coast regions of the United States.
Range Resources Corp came to my attention because it appeared on my overvalued stocks screen, which has underperformed the S&P 500 by 15% per year since 1999. Probing deeper, I found that this company has an unhealthy amount of debt. Debtholders and shareholders are betting too heavily on the value of this company's oil and natural gas reserves. Current p/bv 3.38. Forward P/E 58.9. CAPS 3, Stockscouter 5. Insiders are sellers at $50 and above.
What do you think at current sp??
At current price of $36.04, I think there is likely more upside than downside. This is a story stock that will gyrate up and down until it succeeds or fails.
I've been in and out of this stock for years. I've always sold it at a very nice profit, usually in the $50+ range. I know they tend to be more natural gas, but last year I read one of their company reports that they contracted to sell their oil on the spot market at $89/barrel. Does anyone remember reading that. Is that the reason their PE ratio is so terrible every year? I usually buy in around 30.
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