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Ranger Oil Corp (ROCC) Update - Nov 13

PostPosted: Sat Nov 13, 2021 2:10 pm
by dan_s
ROCC closed at $29.72 on November 12th. First Call's price target is $43.60.

I have updated my forecast/valuation model for Ranger Oil and I am increasing my valuation by $4 to $52, primarily because I am now giving equal weight to 2021 and 2022 operating cash flow per share ($7.26 in 2021 and $13.54). Keep in mind that for the first three quarters of 2021 CFPS is just for Penn Virginia as a stand alone company.

Lonestar Resources (LONE) merged into Penn Virginia on October 5th and the company name was changed to Ranger Oil Corp. (ROCC).

11-5-2021: Truist Securities analyst Neal Dingmann lowered his price target on Ranger Oil Corp. (NASDAQ: ROCC) to $47.00 (from $52.00) while maintaining a Buy rating.
10-18-2021: RBC Capital analyst Scott Hanold upgraded Ranger Oil to Outperform from Sector Perform with a price target of $44, up from $28.
Ranger now has a detailed presentation up on their website. Before you invest take 30 minutes to go thru the new presentation.
> Penn Virginia's production was 25,483 Boepd in Q3.
> Q4 production should be 38,000 to 40,000 Boepd, approximately 69% crude oil, 16% natural gas and 15% NGLs.
> The company is generating more than enough operating cash flow to fund a D&C program that should generate YOY production growth of 10% thru 2030.
> FCF should fund some bolt-on acquisitions in 2022 to fill in some acreage blocks for longer laterals, share buybacks and maybe dividends.
> This is a pure play on the Eagle Ford shale.
> It is large enough to draw more coverage by the Wall Street Gang and if my 2022 forecast is accurate there is a lot more share price upside for us.

Re: Ranger Oil Corp (ROCC) Update - Nov 13

PostPosted: Wed Nov 24, 2021 1:07 pm
by Roadster
Thanks Dan.

Still going to be added to the Sweet 16?

Write up?

Re: Ranger Oil Corp (ROCC) Update - Nov 13

PostPosted: Wed Nov 24, 2021 2:19 pm
by dan_s
The profile update has been assigned to one of our MBA, Mr. C Prewitt. He has been drafting profiles for us for over four years and he does a great job. We will publish it by mid-December.
My updated forecast model is already on the EPG website under the Small-Cap tab. Take a hard look at row 50.