Range Resources Co. (NYSE:RRC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in shares of Range Resources Co. (NYSE:RRC) by 51.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,965 shares of the oil and gas exploration company’s stock after selling 21,914 shares during the quarter. Teacher Retirement System of Texas’ holdings in Range Resources were worth $754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. increased its position in shares of Range Resources by 26.3% during the third quarter. Citigroup Inc. now owns 247,160 shares of the oil and gas exploration company’s stock valued at $7,603,000 after acquiring an additional 51,544 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Range Resources during the 3rd quarter worth approximately $25,000. BNP Paribas Financial Markets boosted its position in shares of Range Resources by 329.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 57,618 shares of the oil and gas exploration company’s stock worth $1,772,000 after purchasing an additional 44,209 shares during the period. Townsquare Capital LLC increased its holdings in Range Resources by 5.9% in the 3rd quarter. Townsquare Capital LLC now owns 78,455 shares of the oil and gas exploration company’s stock valued at $2,413,000 after purchasing an additional 4,364 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Range Resources by 3.4% in the third quarter. Rockefeller Capital Management L.P. now owns 53,637 shares of the oil and gas exploration company’s stock valued at $1,650,000 after purchasing an additional 1,787 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Up 1.0 %

Range Resources stock opened at $39.19 on Monday. The stock has a market cap of $9.46 billion, a PE ratio of 19.79, a P/E/G ratio of 5.11 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock’s fifty day moving average is $38.52 and its two-hundred day moving average is $35.22. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter last year, the company earned $0.63 EPS. On average, sell-side 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 given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s payout ratio is currently 32.73%.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group lifted their target price on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Piper Sandler increased their price target on shares of Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Williams Trading set a $40.00 price objective on shares of Range Resources in a research note on Wednesday, March 5th. Finally, StockNews.com raised shares of Range Resources from a “sell” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus price target of $40.89.

Range Resources 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.