New York State Common Retirement Fund Boosts Stake in Range Resources Corporation (NYSE:RRC)

New York State Common Retirement Fund increased its holdings in shares of Range Resources Corporation (NYSE:RRC) by 7.2% in the first quarter, Holdings Channel reports. The firm owned 260,223 shares of the oil and gas exploration company’s stock after buying an additional 17,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Range Resources were worth $10,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in RRC. Bessemer Group Inc. lifted its holdings in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 315 shares during the period. Headlands Technologies LLC acquired a new position in Range Resources during the 4th quarter worth approximately $42,000. Fifth Third Bancorp lifted its holdings in shares of Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock valued at $83,000 after buying an additional 355 shares during the period. UMB Bank n.a. boosted its stake in shares of Range Resources by 124.9% in the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company’s stock valued at $103,000 after buying an additional 1,434 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Range Resources in the first quarter valued at $133,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group boosted their price target on Range Resources from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Mizuho lifted their target price on shares of Range Resources from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 price target on shares of Range Resources in a research report on Tuesday. Scotiabank set a $46.00 price objective on Range Resources and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Finally, Raymond James Financial increased their target price on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.79.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $38.26 on Friday. The business’s 50-day simple moving average is $39.60 and its 200 day simple moving average is $38.05. The company has a market cap of $9.14 billion, a P/E ratio of 34.16, a PEG ratio of 0.32 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources Corporation has a one year low of $27.29 and a one year high of $43.50.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.94%. Range Resources’s dividend payout ratio is currently 32.14%.

Insider Buying and Selling at Range Resources

In related news, VP Ashley Kavanaugh sold 12,880 shares of Range Resources stock in a transaction on Monday, May 12th. The shares were sold at an average price of $39.00, for a total transaction of $502,320.00. Following the sale, the vice president owned 1,723 shares of the company’s stock, valued at $67,197. The trade was a 88.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the sale, the chief executive officer owned 58,431 shares of the company’s stock, valued at $2,361,781.02. This represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is owned by company 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.