23,495 Shares in Range Resources Corporation $RRC Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund bought a new stake in shares of Range Resources Corporation (NYSE:RRC) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 23,495 shares of the oil and gas exploration company’s stock, valued at approximately $884,000.

Several other hedge funds have also bought and sold shares of RRC. Boston Partners boosted its holdings in shares of Range Resources by 6.1% during the 2nd quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company’s stock valued at $301,133,000 after purchasing an additional 425,704 shares during the last quarter. Lingotto Investment Management LLP increased its holdings in shares of Range Resources by 2.0% in the second quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company’s stock worth $291,263,000 after purchasing an additional 138,877 shares during the last quarter. Invesco Ltd. lifted its position in shares of Range Resources by 230.1% in the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after buying an additional 3,336,299 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Range Resources by 30.5% during the second quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company’s stock valued at $120,050,000 after buying an additional 689,212 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Range Resources by 22.0% during the 2nd quarter. Bank of America Corp DE now owns 2,148,996 shares of the oil and gas exploration company’s stock valued at $87,400,000 after buying an additional 387,228 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of several recent research reports. TD Cowen raised Range Resources to a “hold” rating in a report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Range Resources in a research report on Monday, December 29th. Wells Fargo & Company set a $43.00 price objective on shares of Range Resources and gave the company an “equal weight” rating in a research report on Monday, January 12th. Royal Bank Of Canada reduced their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Finally, UBS Group upped their target price on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average price target of $41.12.

Range Resources Trading Up 4.7%

Shares of RRC opened at $39.28 on Friday. The company’s fifty day simple moving average is $35.63 and its 200-day simple moving average is $36.15. The company has a market cap of $9.31 billion, a P/E ratio of 16.51, a P/E/G ratio of 0.34 and a beta of 0.58. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a twelve month low of $30.32 and a twelve month high of $43.50.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, December 12th. Range Resources’s dividend payout ratio is 15.13%.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.