Range Resources Corporation $RRC Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in Range Resources Corporation (NYSE:RRC) by 11.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 244,403 shares of the oil and gas exploration company’s stock after selling 31,365 shares during the period. New York State Teachers Retirement System’s holdings in Range Resources were worth $11,042,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources during the fourth quarter worth about $34,000. Root Financial Partners LLC boosted its holdings in Range Resources by 37.8% in the first 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 during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Range Resources during the 4th quarter valued at approximately $57,000. Basepoint Wealth LLC acquired a new stake in Range Resources during the 4th quarter valued at approximately $61,000. Finally, International Assets Investment Management LLC purchased a new stake in Range Resources during the 4th quarter worth approximately $71,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Down 0.1%

Shares of NYSE:RRC opened at $37.75 on Monday. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 9.99 and a beta of 0.41. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The company’s fifty day moving average is $39.68 and its two-hundred day moving average is $39.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. Range Resources’s revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the company posted $0.96 earnings per share. Equities analysts anticipate that Range Resources Corporation will post 3.6 EPS for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is presently 10.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America upped their target price on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. TD Cowen upped their price target on shares of Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. The Goldman Sachs Group decreased their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Citigroup dropped their target price on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.33.

Insider Transactions at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the sale, the director owned 28,668 shares of the company’s stock, valued at $1,272,859.20. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Range Resources Profile

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.