State of Alaska Department of Revenue Sells 1,410 Shares of Range Resources Corporation $RRC

State of Alaska Department of Revenue lowered its position in Range Resources Corporation (NYSE:RRC) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,866 shares of the oil and gas exploration company’s stock after selling 1,410 shares during the quarter. State of Alaska Department of Revenue’s holdings in Range Resources were worth $1,092,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RRC. Hollencrest Capital Management bought a new position in shares of Range Resources during the first quarter valued at approximately $33,000. Bessemer Group Inc. boosted its position in Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after acquiring an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Range Resources during the 1st quarter valued at $39,000. State of Wyoming purchased a new position in shares of Range Resources in the 1st quarter valued at $71,000. Finally, Fifth Third Bancorp raised its position in shares of Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock worth $83,000 after acquiring an additional 355 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Down 0.9%

RRC opened at $38.24 on Monday. The company has a market cap of $9.11 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.33 and a beta of 0.51. Range Resources Corporation has a twelve month low of $28.99 and a twelve month high of $43.50. The company has a 50-day moving average price of $35.18 and a 200 day moving average price of $36.87. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29.

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

Range Resources Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.9%. Range Resources’s dividend payout ratio is presently 18.09%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RRC shares. Citigroup reduced their price objective on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Scotiabank set a $46.00 price target on Range Resources and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 price objective on shares of Range Resources in a research report on Tuesday, July 15th. Roth Capital downgraded Range Resources from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. Finally, Susquehanna increased their price target on Range Resources from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Eight research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus target price of $41.80.

Range Resources Company 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.