Public Employees Retirement System of Ohio Invests $2.69 Million in Range Resources Corporation $RRC

Public Employees Retirement System of Ohio acquired a new stake in shares of Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 72,237 shares of the oil and gas exploration company’s stock, valued at approximately $2,686,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Range Resources in the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in Range Resources during the 2nd quarter valued at approximately $31,000. Los Angeles Capital Management LLC acquired a new position in Range Resources during the 4th quarter valued at approximately $34,000. Root Financial Partners LLC increased its stake in Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 276 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new position in shares of Range Resources in the second quarter worth $45,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings downgraded shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Susquehanna reduced their target price on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Morgan Stanley lowered their price target on Range Resources from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 19th. The Goldman Sachs Group dropped their price target on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Finally, Stephens increased their price objective on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus price target of $43.75.

Range Resources Stock Performance

Shares of NYSE RRC opened at $41.96 on Friday. The company has a market capitalization of $9.81 billion, a PE ratio of 11.59 and a beta of 0.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The company’s fifty day moving average price is $39.10 and its 200 day moving average price is $40.45. Range Resources Corporation has a 1 year low of $32.68 and a 1 year high of $48.31.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The firm had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. On average, research analysts predict that Range Resources Corporation will post 3.62 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

Insider Transactions at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director owned 13,421 shares of the company’s stock, valued at approximately $536,840. The trade was a 20.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.