California Public Employees Retirement System Acquires 66,904 Shares of Range Resources Co. (NYSE:RRC)

California Public Employees Retirement System increased its stake in shares of Range Resources Co. (NYSE:RRCGet Rating) by 17.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 451,003 shares of the oil and gas exploration company’s stock after acquiring an additional 66,904 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Range Resources worth $11,162,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake in shares of Range Resources by 64.9% in the second quarter. CWM LLC now owns 1,194 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 470 shares in the last quarter. Quent Capital LLC bought a new position in shares of Range Resources during the 1st quarter worth about $37,000. Exchange Traded Concepts LLC boosted its position in shares of Range Resources by 34.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,994 shares of the oil and gas exploration company’s stock valued at $49,000 after acquiring an additional 509 shares in the last quarter. Van ECK Associates Corp bought a new stake in Range Resources in the first quarter valued at about $84,000. Finally, Islay Capital Management LLC acquired a new position in Range Resources in the second quarter worth about $89,000. 84.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Securities upgraded Range Resources from a “hold” rating to a “buy” rating and upped their price objective for the company from $32.00 to $33.00 in a research note on Thursday, September 29th. Jefferies Financial Group began coverage on Range Resources in a report on Wednesday, October 19th. They set a “hold” rating and a $31.00 price objective for the company. StockNews.com initiated coverage on shares of Range Resources in a research report on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Range Resources from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 29th. Finally, Morgan Stanley dropped their price objective on shares of Range Resources from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.88.

Insider Buying and Selling at Range Resources

In related news, SVP Dori Ginn sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $34.65, for a total value of $173,250.00. Following the completion of the transaction, the senior vice president now directly owns 80,801 shares in the company, valued at approximately $2,799,754.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.93% of the company’s stock.

Range Resources Trading Up 0.0 %

NYSE:RRC opened at $28.21 on Tuesday. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 0.20 and a beta of 2.12. Range Resources Co. has a 1-year low of $16.71 and a 1-year high of $37.44. The business’s 50-day moving average price is $27.86 and its two-hundred day moving average price is $29.60. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.85.

Range Resources (NYSE:RRCGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The oil and gas exploration company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Range Resources had a net margin of 30.87% and a return on equity of 60.30%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The business’s revenue was up 267.0% on a year-over-year basis. On average, equities analysts expect that Range Resources Co. will post 4.99 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, September 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.02. This represents a $0.32 annualized dividend and a yield of 1.13%. Range Resources’s payout ratio is currently 6.57%.

Range Resources Profile

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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, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 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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