Public Employees Retirement System of Ohio Increases Stock Holdings in Range Resources Corporation $RRC

Public Employees Retirement System of Ohio lifted its stake in Range Resources Corporation (NYSE:RRC) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,294 shares of the oil and gas exploration company’s stock after purchasing an additional 299 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Range Resources were worth $2,981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RRC. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Range Resources by 23.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,094 shares of the oil and gas exploration company’s stock worth $327,000 after acquiring an additional 1,756 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Range Resources by 5,122.5% during the 1st quarter. GAMMA Investing LLC now owns 229,318 shares of the oil and gas exploration company’s stock worth $9,157,000 after acquiring an additional 224,927 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Range Resources during the 1st quarter worth approximately $218,000. Portside Wealth Group LLC bought a new stake in shares of Range Resources during the 1st quarter worth approximately $260,000. Finally, Lmcg Investments LLC lifted its stake in shares of Range Resources by 1.4% during the 1st quarter. Lmcg Investments LLC now owns 151,471 shares of the oil and gas exploration company’s stock worth $6,048,000 after acquiring an additional 2,106 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 5.2%

Shares of NYSE:RRC opened at $39.62 on Thursday. Range Resources Corporation has a 12-month low of $28.99 and a 12-month high of $43.50. The business’s fifty day simple moving average is $35.07 and its 200-day simple moving average is $36.93. The company has a market capitalization of $9.44 billion, a PE ratio of 19.91, a P/E/G ratio of 0.32 and a beta of 0.51. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The business had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. During the same period last year, the business posted $0.46 EPS. As a group, equities research analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a $0.09 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is currently 18.09%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RRC shares. Mizuho decreased their price target on Range Resources from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Roth Capital lowered Range Resources from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. Scotiabank set a $46.00 price target on Range Resources and gave the stock a “sector perform” rating in a research note on Friday, July 11th. UBS Group decreased their price target on Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. Finally, Susquehanna lifted their target price on Range Resources from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Seven analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average price target of $41.80.

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.