Retirement Systems of Alabama Sells 5,381 Shares of Range Resources Co. (NYSE:RRC)

Retirement Systems of Alabama decreased its stake in Range Resources Co. (NYSE:RRC) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 615,679 shares of the oil and gas exploration company’s stock after selling 5,381 shares during the quarter. Retirement Systems of Alabama owned 0.26% of Range Resources worth $18,938,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lingotto Investment Management LLP raised its position in shares of Range Resources by 1.5% in the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock valued at $216,326,000 after acquiring an additional 93,782 shares during the period. KGH Ltd increased its stake in Range Resources by 3.2% in the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after purchasing an additional 190,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Range Resources by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after purchasing an additional 35,344 shares during the period. Canoe Financial LP boosted its position in shares of Range Resources by 114.9% during the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after purchasing an additional 1,422,200 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Range Resources during the second quarter worth $78,223,000. Institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. The trade was a 56.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles G. Griffie acquired 1,275 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

Range Resources Stock Down 1.8 %

NYSE:RRC opened at $35.35 on Friday. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 17.85 and a beta of 1.85. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The stock’s 50 day moving average price is $32.92 and its two-hundred day moving average price is $32.40.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 earnings per share. Equities research analysts expect that Range Resources Co. will post 1.91 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup raised their price objective on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and raised their price target for the stock from $28.00 to $35.00 in a research report on Monday, December 9th. Piper Sandler decreased their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Mizuho dropped their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Finally, Susquehanna reduced their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.50.

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.