Range Resources Co. (NYSE:RRC) Shares Sold by South Dakota Investment Council

South Dakota Investment Council reduced its holdings in Range Resources Co. (NYSE:RRC) by 38.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,341 shares of the oil and gas exploration company’s stock after selling 27,600 shares during the quarter. South Dakota Investment Council’s holdings in Range Resources were worth $1,350,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RRC. Invesco Ltd. lifted its holdings in shares of Range Resources by 22.4% in the 3rd quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after buying an additional 693,970 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Range Resources in the 3rd quarter valued at approximately $19,704,000. Lord Abbett & CO. LLC lifted its holdings in shares of Range Resources by 66.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock valued at $47,416,000 after buying an additional 585,000 shares during the period. Canoe Financial LP lifted its holdings in shares of Range Resources by 86.5% in the 3rd quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock valued at $38,743,000 after buying an additional 554,400 shares during the period. Finally, Boston Partners acquired a new stake in shares of Range Resources in the 3rd quarter valued at approximately $10,590,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RRC. Raymond James reduced their price objective on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $40.00 to $45.00 in a report on Thursday, April 11th. Piper Sandler lifted their price objective on Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Wednesday. Finally, Stifel Nicolaus boosted their price target on Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.40.

Range Resources Price Performance

RRC stock opened at $37.77 on Thursday. The stock has a 50-day moving average price of $33.52 and a two-hundred day moving average price of $32.37. Range Resources Co. has a 12-month low of $23.92 and a 12-month high of $37.89. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The company has a market cap of $9.14 billion, a PE ratio of 19.17 and a beta of 1.83.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a return on equity of 13.58% and a net margin of 17.00%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, research analysts predict that Range Resources Co. will post 1.99 EPS for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio is presently 16.24%.

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.