State Board of Administration of Florida Retirement System Has $3.94 Million Stock Holdings in Range Resources Co. (NYSE:RRC)

State Board of Administration of Florida Retirement System raised its holdings in Range Resources Co. (NYSE:RRC – Get Rating) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,299 shares of the oil and gas exploration company’s stock after acquiring an additional 12,010 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Range Resources were worth $3,936,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of Range Resources by 12.4% in the first quarter. Raymond James & Associates now owns 45,351 shares of the oil and gas exploration company’s stock worth $1,378,000 after buying an additional 4,987 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Range Resources by 31.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 35,865 shares of the oil and gas exploration company’s stock worth $1,090,000 after buying an additional 8,648 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Range Resources in the first quarter worth $213,000. Lord Abbett & CO. LLC acquired a new stake in shares of Range Resources in the first quarter worth $7,059,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Range Resources by 1,102.7% in the first quarter. Canada Pension Plan Investment Board now owns 151,710 shares of the oil and gas exploration company’s stock worth $4,609,000 after buying an additional 139,096 shares during the last quarter. 87.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RRC shares. Tudor, Pickering, Holt & Co. upgraded shares of Range Resources from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Tuesday, March 21st. Benchmark raised shares of Range Resources from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, April 25th. Piper Sandler dropped their target price on shares of Range Resources from $40.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. StockNews.com initiated coverage on shares of Range Resources in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Susquehanna dropped their target price on shares of Range Resources from $34.00 to $33.00 and set a “positive” rating on the stock in a research report on Friday, April 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus target price of $32.29.

Range Resources Stock Up 5.2 %

Shares of NYSE RRC opened at $26.38 on Friday. The firm’s 50-day simple moving average is $25.66 and its 200 day simple moving average is $26.08. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 3.10, a price-to-earnings-growth ratio of 0.40 and a beta of 2.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.55. Range Resources Co. has a 12-month low of $22.61 and a 12-month high of $37.44.

Range Resources (NYSE:RRC – Get Rating) last issued its quarterly earnings results on Monday, April 24th. The oil and gas exploration company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.28. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $772.38 million. Range Resources had a net margin of 41.18% and a return on equity of 45.55%. The firm’s quarterly revenue was up 556.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. On average, research analysts expect that Range Resources Co. will post 2.24 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, March 14th. This represents a $0.32 annualized dividend and a yield of 1.21%. Range Resources’s dividend payout ratio (DPR) is 3.76%.

About Range Resources

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Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.