Ranger Oil (ROCC) Valuation Update - Dec 27

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dan_s
Posts: 34471
Joined: Fri Apr 23, 2010 8:22 am

Ranger Oil (ROCC) Valuation Update - Dec 27

Post by dan_s »

Ranger Oil (ROCC) is the most recent addition to the Sweet 16. It was promoted from the Small-Cap Growth Portfolio on 10-18-2022, replacing Continental Resources that is going private. Ranger Oil was formed by the merger of Lonestar Resources into Penn Virginia which closed 10-5-2021. It is a pure play on the Eagle Ford / Austin Chalk play in South Texas. The Company is ramping up production into year-end. TipRanks’ consensus forecast for 2023 (very close to my forecast model) is earnings per share of $12.81 on revenues of $1.2 billion and operating cash flow per share of $20.98. Those numbers, combined with a recently funded common stock repurchase program, point to a much higher share price.

ROCC closed today at $41.33. My updated valuation is $74.00.

TipRanks: "In the last 3 months, 3 ranked analysts set 12-month price targets for ROCC. The average price target among the analysts is $55.00."
Last edited by dan_s on Tue Feb 28, 2023 10:41 am, edited 1 time in total.
Dan Steffens
Energy Prospectus Group
Fraser921
Posts: 2955
Joined: Mon Mar 22, 2021 11:48 am

Re: Ranger Resources (ROCC) Valuation Update - Dec 27

Post by Fraser921 »

sold for 44.36 vs 74 dollar valuation!!!
Fraser921
Posts: 2955
Joined: Mon Mar 22, 2021 11:48 am

Re: Ranger Resources (ROCC) Valuation Update - Dec 27

Post by Fraser921 »

Here is the Baytex presentation

https://www.baytexenergy.com/content/up ... Ranger.pdf


EV / EBITDA 2.86 x
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