California Public Employees Retirement System Sells 16,172 Shares of Range Resources Co. (NYSE:RRC)

California Public Employees Retirement System reduced its position in Range Resources Co. (NYSE:RRC) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 404,306 shares of the oil and gas exploration company’s stock after selling 16,172 shares during the period. California Public Employees Retirement System owned 0.17% of Range Resources worth $14,547,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RRC. JPMorgan Chase & Co. raised its position in shares of Range Resources by 61.9% in the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after purchasing an additional 604,199 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Range Resources during the 4th quarter valued at $380,000. Calamos Advisors LLC purchased a new stake in shares of Range Resources during the fourth quarter worth $567,000. Radnor Capital Management LLC boosted its holdings in shares of Range Resources by 156.2% in the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock worth $1,547,000 after acquiring an additional 26,213 shares during the period. Finally, Sanctuary Advisors LLC grew its position in shares of Range Resources by 169.1% in the fourth quarter. Sanctuary Advisors LLC now owns 17,944 shares of the oil and gas exploration company’s stock valued at $674,000 after purchasing an additional 11,276 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on RRC shares. Piper Sandler raised their target price on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Stephens boosted their price objective on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Morgan Stanley upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $40.00 to $49.00 in a research note on Wednesday, March 26th. Mizuho boosted their price target on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.60.

Range Resources Stock Down 12.0 %

Shares of NYSE RRC opened at $33.51 on Friday. The stock has a market capitalization of $8.09 billion, a P/E ratio of 16.92, a PEG ratio of 5.11 and a beta of 1.73. Range Resources Co. has a one year low of $27.29 and a one year high of $41.95. The firm’s 50 day simple moving average is $38.29 and its two-hundred day simple moving average is $35.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter last year, the firm earned $0.63 EPS. As a group, analysts expect that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.09 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s payout ratio is currently 32.73%.

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.