Range Resources Corporation $RRC Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in shares of Range Resources Corporation (NYSE:RRC) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 808,161 shares of the oil and gas exploration company’s stock after selling 36,427 shares during the period. Retirement Systems of Alabama owned about 0.34% of Range Resources worth $28,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of RRC. Cox Capital Mgt LLC boosted its holdings in Range Resources by 56.4% in the 4th quarter. Cox Capital Mgt LLC now owns 45,819 shares of the oil and gas exploration company’s stock worth $1,546,000 after buying an additional 16,532 shares during the last quarter. Canoe Financial LP raised its holdings in shares of Range Resources by 13.1% during the fourth quarter. Canoe Financial LP now owns 1,573,309 shares of the oil and gas exploration company’s stock valued at $56,261,000 after acquiring an additional 182,000 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Range Resources during the fourth quarter valued at approximately $225,000. Wealthcare Advisory Partners LLC purchased a new position in shares of Range Resources in the fourth quarter valued at approximately $499,000. Finally, Orser Capital Management LLC lifted its position in shares of Range Resources by 3.7% in the fourth quarter. Orser Capital Management LLC now owns 46,102 shares of the oil and gas exploration company’s stock valued at $1,626,000 after acquiring an additional 1,645 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RRC. Mizuho boosted their price target on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. Truist Financial began coverage on shares of Range Resources in a research note on Tuesday, March 24th. They set a “hold” rating and a $48.00 target price on the stock. Royal Bank Of Canada reduced their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Finally, UBS Group raised their price target on shares of Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.18.

Range Resources Price Performance

NYSE:RRC opened at $45.13 on Wednesday. Range Resources Corporation has a one year low of $30.32 and a one year high of $48.31. The stock has a market cap of $10.62 billion, a PE ratio of 16.47, a P/E/G ratio of 0.41 and a beta of 0.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50 day moving average price of $40.12 and a 200 day moving average price of $37.86.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. The company had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. Equities research analysts expect that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio is presently 14.60%.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.