Range Resources Corporation $RRC Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in Range Resources Corporation (NYSE:RRC) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 808,161 shares of the oil and gas exploration company’s stock after selling 36,427 shares during the period. Retirement Systems of Alabama’s holdings in Range Resources were worth $28,496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its holdings in Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 541 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 336 shares during the period. Clearstead Advisors LLC increased its stake in Range Resources by 439.5% during the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock worth $79,000 after acquiring an additional 1,714 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Range Resources by 206.4% during the third quarter. Hantz Financial Services Inc. now owns 2,301 shares of the oil and gas exploration company’s stock worth $87,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Range Resources in the third quarter valued at $96,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on RRC. TD Cowen upped their price target on Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Wells Fargo & Company raised their price objective on Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. Royal Bank Of Canada reduced their price objective 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. Morgan Stanley decreased their target price on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Finally, Piper Sandler increased their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.18.

Range Resources Stock Down 2.3%

NYSE:RRC opened at $45.13 on Wednesday. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $48.31. The stock’s fifty day moving average is $40.12 and its two-hundred day moving average is $37.86. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 0.41 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. The business had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The company’s revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. Research analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.40 annualized dividend and a yield of 0.9%. This is an increase from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio is presently 14.60%.

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.