Louisiana State Employees Retirement System Buys Shares of 67,800 Range Resources Co. (NYSE:RRC)

Louisiana State Employees Retirement System bought a new stake in shares of Range Resources Co. (NYSE:RRC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 67,800 shares of the oil and gas exploration company’s stock, valued at approximately $2,064,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RRC. Sequoia Financial Advisors LLC acquired a new stake in shares of Range Resources in the 4th quarter valued at $297,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Range Resources by 86.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,838 shares of the oil and gas exploration company’s stock worth $147,000 after acquiring an additional 2,242 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Range Resources by 2,944.0% during the 4th quarter. International Assets Investment Management LLC now owns 60,880 shares of the oil and gas exploration company’s stock worth $2,000,000 after acquiring an additional 58,880 shares in the last quarter. Grant Street Asset Management Inc. bought a new stake in shares of Range Resources during the 4th quarter worth about $366,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Range Resources by 56.5% during the 4th 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 acquiring an additional 343,541 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 0.7 %

Shares of RRC opened at $34.72 on Thursday. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 9.81 and a beta of 1.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The business’s fifty day moving average price is $32.76 and its two-hundred day moving average price is $32.20. Range Resources Co. has a 52 week low of $23.92 and a 52 week high of $37.88.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm had revenue of $941.40 million for the quarter, compared to analyst estimates of $672.25 million. During the same period last year, the company earned $1.26 EPS. The business’s quarterly revenue was down 42.3% compared to the same quarter last year. On average, analysts predict that Range Resources Co. will post 1.91 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. Range Resources’s dividend payout ratio is currently 9.04%.

Analysts Set New Price Targets

Several analysts have recently issued reports on RRC shares. Stifel Nicolaus decreased their price target on Range Resources from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Truist Financial decreased their price target on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Mizuho reiterated a “buy” rating and set a $39.00 price target on shares of Range Resources in a research note on Thursday, April 11th. Citigroup upped their price target on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Piper Sandler decreased their target price on Range Resources from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, March 7th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus price target of $35.75.

About Range Resources

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.