Oregon Public Employees Retirement Fund Raises Holdings in Range Resources Co. (NYSE:RRC)


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Oregon Public Employees Retirement Fund lifted its stake in shares of Range Resources Co. (NYSE:RRC) by 0.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,721,471 shares of the oil and gas exploration company’s stock after buying an additional 2,100 shares during the period. Oregon Public Employees Retirement Fund owned approximately 1.05% of Range Resources worth $28,113,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. tru Independence LLC purchased a new stake in Range Resources during the 4th quarter valued at about $26,800,000. International Assets Investment Management LLC purchased a new position in shares of Range Resources in the 4th quarter valued at $38,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Range Resources in the 4th quarter valued at $60,000. One68 Global Capital LLC purchased a new position in shares of Range Resources in the 4th quarter valued at $67,000. Finally, FDx Advisors Inc. purchased a new position in Range Resources during the 1st quarter worth $106,000. Institutional investors and hedge funds own 93.83% of the company’s stock.

RRC has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Range Resources from $7.50 to $10.50 in a research note on Tuesday, March 23rd. Royal Bank of Canada lifted their target price on shares of Range Resources from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, February 22nd. Raymond James restated a “hold” rating on shares of Range Resources in a research report on Monday, February 22nd. TD Securities set a $6.00 price target on shares of Range Resources and gave the stock a “reduce” rating in a report on Thursday, February 25th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Range Resources from $7.50 to $10.50 in a report on Tuesday, March 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.44.

Shares of NYSE RRC opened at $8.84 on Thursday. The stock has a market cap of $2.29 billion, a PE ratio of -0.87, a price-to-earnings-growth ratio of 1.26 and a beta of 2.71. Range Resources Co. has a fifty-two week low of $4.89 and a fifty-two week high of $11.60. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a fifty day moving average of $10.11 and a 200-day moving average of $8.63.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Monday, February 22nd. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). The company had revenue of $598.89 million during the quarter, compared to analysts’ expectations of $505.47 million. Range Resources had a negative net margin of 125.90% and a negative return on equity of 0.26%. During the same quarter last year, the firm posted $0.08 earnings per share. On average, sell-side analysts predict that Range Resources Co. will post -0.13 EPS for the current year.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2020, the company owned and operated 1,310 net producing wells and approximately 781,000 net acres under lease located in the Appalachian region of the northeastern United States.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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