Strs Ohio Grows Position in Range Resources Co. (NYSE:RRC)

Strs Ohio increased its position in shares of Range Resources Co. (NYSE:RRC) by 27.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,842 shares of the oil and gas exploration company’s stock after buying an additional 8,035 shares during the quarter. Strs Ohio’s holdings in Range Resources were worth $1,151,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RRC. National Bank of Canada FI grew its stake in Range Resources by 970.0% during the 3rd quarter. National Bank of Canada FI now owns 3,210 shares of the oil and gas exploration company’s stock worth $98,000 after buying an additional 2,910 shares during the last quarter. SG Americas Securities LLC grew its stake in Range Resources by 90.2% during the 3rd quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company’s stock worth $257,000 after buying an additional 3,766 shares during the last quarter. Impact Partnership Wealth LLC purchased a new position in Range Resources during the 3rd quarter worth approximately $128,000. Private Wealth Advisors LLC purchased a new position in Range Resources during the 3rd quarter worth approximately $2,264,000. Finally, Proffitt & Goodson Inc. purchased a new position in Range Resources during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $36.12 on Tuesday. The stock has a fifty day moving average price of $33.18 and a 200 day moving average price of $32.30. The stock has a market cap of $8.74 billion, a PE ratio of 10.20 and a beta of 1.83. Range Resources Co. has a 1 year low of $23.92 and a 1 year high of $37.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.21. The firm had revenue of $941.40 million during the quarter, compared to analysts’ expectations of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. Range Resources’s revenue was down 42.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Sell-side analysts forecast that Range Resources Co. will post 1.94 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, March 14th. Range Resources’s payout ratio is 9.04%.

Wall Street Analyst Weigh In

RRC has been the topic of several analyst reports. Barclays initiated coverage on Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price on the stock. Mizuho reiterated a “buy” rating and issued a $39.00 target price on shares of Range Resources in a research note on Thursday, April 11th. Piper Sandler lifted their target price on Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley lifted their target price on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Finally, Raymond James lowered their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus price target of $35.90.

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.