California Public Employees Retirement System Has $13.50 Million Stock Position in Range Resources Co. (NYSE:RRC)

California Public Employees Retirement System lessened its position in Range Resources Co. (NYSE:RRC) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 443,613 shares of the oil and gas exploration company’s stock after selling 17,835 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Range Resources worth $13,504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after buying an additional 693,970 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of Range Resources by 66.6% during the third quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock valued at $47,416,000 after buying an additional 585,000 shares during the last quarter. Canoe Financial LP lifted its stake in shares of Range Resources by 86.5% in the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock valued at $38,743,000 after buying an additional 554,400 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Range Resources by 56.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 951,501 shares of the oil and gas exploration company’s stock worth $28,964,000 after buying an additional 343,541 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in Range Resources by 61.6% during the third quarter. Bank Pictet & Cie Europe AG now owns 838,600 shares of the oil and gas exploration company’s stock valued at $27,179,000 after acquiring an additional 319,800 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 $35.91 on Wednesday. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 18.23 and a beta of 1.83. Range Resources Co. has a 12-month low of $23.92 and a 12-month high of $38.25. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $33.94 and its 200 day simple moving average is $32.42.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. The firm had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, research analysts anticipate that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. Range Resources’s dividend payout ratio is 16.24%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now directly owns 22,370 shares in the company, valued at $844,467.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RRC. Susquehanna raised their target price on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Mizuho restated a “buy” rating and set a $41.00 price target (up previously from $39.00) on shares of Range Resources in a research note on Friday, April 26th. Barclays initiated coverage on Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective on the stock. Morgan Stanley raised their target price on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. Finally, Benchmark restated a “hold” rating on shares of Range Resources in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.75.

Range Resources 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.