Range Resources Corporation $RRC Stock Holdings Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in Range Resources Corporation (NYSE:RRC) by 13.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 666,627 shares of the oil and gas exploration company’s stock after selling 100,874 shares during the period. Retirement Systems of Alabama owned about 0.29% of Range Resources worth $24,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of RRC. Ethic Inc. boosted its position in Range Resources by 49.5% during the third quarter. Ethic Inc. now owns 10,368 shares of the oil and gas exploration company’s stock worth $384,000 after purchasing an additional 3,433 shares in the last quarter. Privium Fund Management B.V. purchased a new stake in shares of Range Resources in the third quarter valued at approximately $265,000. Heritage Family Offices LLP purchased a new stake in shares of Range Resources in the third quarter valued at approximately $27,000. Kestra Advisory Services LLC raised its stake in shares of Range Resources by 43.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,750 shares of the oil and gas exploration company’s stock worth $287,000 after buying an additional 2,342 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Range Resources by 0.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 50,131 shares of the oil and gas exploration company’s stock worth $1,857,000 after buying an additional 375 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Range Resources stock opened at $51.97 on Thursday. The company has a fifty day simple moving average of $43.77 and a 200-day simple moving average of $40.98. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 13.78 and a beta of 0.64. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.16. Range Resources Corporation has a 52-week low of $32.68 and a 52-week high of $56.90.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 27th. The oil and gas exploration company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $842.83 million for the quarter, compared to the consensus estimate of $795.19 million. Range Resources had a net margin of 25.25% and a return on equity of 19.15%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. On average, equities analysts anticipate that Range Resources Corporation will post 3.85 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a $0.10 dividend. The ex-dividend date was Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Range Resources’s dividend payout ratio is presently 10.61%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. Scotiabank initiated coverage on Range Resources in a research note on Wednesday, October 14th. They set a “sector perform” rating and a $42.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $37.00 target price on shares of Range Resources in a report on Tuesday, October 20th. Barclays raised their target price on Range Resources from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Range Resources in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average target price of $46.22.

Range Resources Company Profile

Range Resources Corporation is an independent energy company focused on exploring for, developing and producing natural gas, natural gas liquids and crude oil. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania. The company also markets and sells its production to customers in the energy and industrial sectors. Range Resources has played a significant role in developing the Marcellus Shale, a major natural gas-producing formation in the United States.