Range Resources Co. (NYSE:RRC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of Range Resources Co. (NYSE:RRC) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,148 shares of the oil and gas exploration company’s stock after selling 25,911 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Range Resources worth $8,923,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. increased its stake in Range Resources by 22.4% during the 3rd quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after buying an additional 693,970 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Range Resources during the 3rd quarter worth $19,704,000. Lord Abbett & CO. LLC increased its stake in Range Resources by 66.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock worth $47,416,000 after buying an additional 585,000 shares during the period. Canoe Financial LP increased its stake in Range Resources by 86.5% during the 3rd quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock worth $38,743,000 after buying an additional 554,400 shares during the period. Finally, Boston Partners purchased a new stake in Range Resources during the 3rd quarter worth $10,590,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

RRC opened at $34.55 on Thursday. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 17.54 and a beta of 1.83. Range Resources Co. has a fifty-two week low of $23.92 and a fifty-two week high of $38.25. The company’s 50-day moving average price is $34.04 and its 200 day moving average price is $32.42. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46.

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

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RRC. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the stock from $40.00 to $45.00 in a research note on Thursday, April 11th. Stifel Nicolaus upped their target price on shares of Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Truist Financial cut their target price on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Mizuho restated a “buy” rating and issued a $41.00 target price (up previously from $39.00) on shares of Range Resources in a research note on Friday, April 26th. Finally, Royal Bank of Canada lowered shares of Range Resources from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $36.00 to $39.00 in a research note on Friday, April 26th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.75.

Insiders Place Their Bets

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by insiders.

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.