Teachers Retirement System of The State of Kentucky Sells 3,800 Shares of Range Resources Co. (NYSE:RRC)

Teachers Retirement System of The State of Kentucky trimmed its stake in Range Resources Co. (NYSE:RRC) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,577 shares of the oil and gas exploration company’s stock after selling 3,800 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Range Resources were worth $2,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. bought a new position in Range Resources during the third quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Range Resources by 333.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 666 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Range Resources in the third quarter valued at $27,000. Covestor Ltd lifted its position in Range Resources by 152.0% in the third quarter. Covestor Ltd now owns 1,550 shares of the oil and gas exploration company’s stock worth $50,000 after purchasing an additional 935 shares during the period. Finally, Delos Wealth Advisors LLC acquired a new stake in Range Resources during the fourth quarter worth $52,000. Institutional investors own 98.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Reginal Spiller sold 1,460 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the transaction, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total transaction of $56,472.80. Following the transaction, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dennis Degner sold 101,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the completion of the sale, the chief executive officer now directly owns 198,154 shares of the company’s stock, valued at approximately $7,486,258.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,107 shares of company stock valued at $7,379,095. Company insiders own 1.57% of the company’s stock.

Range Resources Trading Down 0.5 %

RRC stock opened at $34.06 on Friday. 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 Co. has a twelve month low of $27.52 and a twelve month high of $39.33. The company has a market cap of $8.26 billion, a P/E ratio of 17.29 and a beta of 1.81. The business has a fifty day moving average of $36.25 and a 200-day moving average of $32.99.

Range Resources (NYSE:RRC) last announced 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. The firm had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. As a group, equities research analysts expect that Range Resources Co. will post 2.11 EPS for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.08 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.94%. Range Resources’s payout ratio is presently 16.24%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RRC shares. Benchmark restated a “hold” rating on shares of Range Resources in a research note on Wednesday, April 24th. Truist Financial cut their price target on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Morgan Stanley upped their price objective on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and raised their target price for the stock from $40.00 to $45.00 in a research report on Thursday, April 11th. Finally, StockNews.com raised Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.10.

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.