Retirement Systems of Alabama Has $23.99 Million Stock Holdings in Range Resources Co. (NYSE:RRC)

Retirement Systems of Alabama decreased its holdings in Range Resources Co. (NYSE:RRC) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 788,222 shares of the oil and gas exploration company’s stock after selling 42,633 shares during the period. Retirement Systems of Alabama’s holdings in Range Resources were worth $23,993,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Alliance Wealth Advisors LLC UT raised its stake in Range Resources by 4.3% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock worth $317,000 after acquiring an additional 431 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Range Resources by 171.9% during the 4th quarter. Truist Financial Corp now owns 258,496 shares of the oil and gas exploration company’s stock valued at $7,869,000 after purchasing an additional 163,435 shares during the last quarter. Alaska Permanent Fund Corp increased its position in Range Resources by 0.9% during the 4th quarter. Alaska Permanent Fund Corp now owns 82,621 shares of the oil and gas exploration company’s stock worth $2,515,000 after purchasing an additional 721 shares in the last quarter. Glenorchy Capital Ltd bought a new position in Range Resources in the 4th quarter valued at approximately $1,799,000. Finally, GAMMA Investing LLC acquired a new stake in Range Resources in the fourth quarter valued at approximately $81,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RRC. Morgan Stanley increased their price target on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, April 24th. Mizuho restated a “buy” rating and set a $41.00 price target (up from $39.00) on shares of Range Resources in a report on Friday. Stephens raised their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Finally, Citigroup lifted their target price on shares of Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Range Resources presently has an average rating of “Hold” and an average price target of $36.65.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the sale, the vice president now directly owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Range Resources Trading Up 0.1 %

NYSE RRC opened at $37.36 on Tuesday. The stock has a market capitalization of $9.06 billion, a P/E ratio of 18.96 and a beta of 1.83. The business has a 50 day simple moving average of $33.94 and a 200 day simple moving average of $32.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. Range Resources Co. has a one year low of $23.92 and a one year high of $38.25.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. Research analysts expect that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. Range Resources’s dividend payout ratio is currently 16.24%.

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.