South Dakota Investment Council Sells 27,600 Shares of Range Resources Co. (NYSE:RRC)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. bought a new position in shares of Range Resources in the 3rd quarter worth $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in Range Resources in the 3rd quarter worth $27,000. Proffitt & Goodson Inc. bought a new stake in Range Resources in the 3rd quarter worth $32,000. Larson Financial Group LLC boosted its stake in shares of Range Resources by 267.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 900 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Range Resources by 57.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 490 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 3.3 %

Shares of Range Resources stock opened at $37.77 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $9.14 billion, a PE ratio of 19.17 and a beta of 1.83. Range Resources Co. has a 52-week low of $23.92 and a 52-week high of $37.89. The company has a 50-day simple moving average of $33.52 and a two-hundred day simple moving average of $32.37.

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

Range Resources Announces Dividend

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

Analysts Set New Price Targets

RRC has been the topic of a number of research reports. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their target price for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Mizuho reaffirmed a “buy” rating and set a $39.00 target price on shares of Range Resources in a research note on Thursday, April 11th. Citigroup lifted their price target on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Wednesday. Finally, Stephens lifted their price target on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.40.

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.