Strs Ohio Increases Stock Position in Range Resources Corporation $RRC

Strs Ohio grew its stake in shares of Range Resources Corporation (NYSE:RRC) by 32.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,128 shares of the oil and gas exploration company’s stock after buying an additional 9,789 shares during the period. Strs Ohio’s holdings in Range Resources were worth $1,632,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RRC. DAVENPORT & Co LLC purchased a new stake in shares of Range Resources during the 1st quarter valued at $204,000. Teacher Retirement System of Texas boosted its position in Range Resources by 110.8% during the 1st quarter. Teacher Retirement System of Texas now owns 44,196 shares of the oil and gas exploration company’s stock worth $1,765,000 after purchasing an additional 23,231 shares during the period. Principal Financial Group Inc. boosted its position in Range Resources by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 555,051 shares of the oil and gas exploration company’s stock worth $22,163,000 after purchasing an additional 1,948 shares during the period. D.A. Davidson & CO. purchased a new stake in Range Resources during the 1st quarter worth $612,000. Finally, Penserra Capital Management LLC purchased a new stake in Range Resources during the 1st quarter worth $448,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of Range Resources stock opened at $37.06 on Wednesday. The firm has a market cap of $8.78 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51. The firm’s 50-day simple moving average is $36.25 and its 200-day simple moving average is $37.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.56. Range Resources Corporation has a 1 year low of $30.32 and a 1 year high of $43.50.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $748.53 million for the quarter, compared to analyst estimates of $721.22 million. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. Equities analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.09 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio is 15.13%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RRC shares. JPMorgan Chase & Co. decreased their price target on shares of Range Resources from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Royal Bank Of Canada upped their price target on shares of Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 8th. Susquehanna decreased their price target on shares of Range Resources to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Wells Fargo & Company raised shares of Range Resources to a “strong-buy” rating in a research report on Thursday, October 16th. Finally, Citigroup decreased their price target on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Range Resources currently has an average rating of “Hold” and an average price target of $41.95.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.