California State Teachers Retirement System Has $12.44 Million Stock Position in Range Resources Corporation $RRC

California State Teachers Retirement System increased its holdings in Range Resources Corporation (NYSE:RRC) by 22.0% in the 1st quarter, Holdings Channel reports. The fund owned 275,387 shares of the oil and gas exploration company’s stock after purchasing an additional 49,574 shares during the period. California State Teachers Retirement System’s holdings in Range Resources were worth $12,442,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Empowered Funds LLC grew its stake in Range Resources by 258.8% during the 1st quarter. Empowered Funds LLC now owns 315,093 shares of the oil and gas exploration company’s stock valued at $14,236,000 after acquiring an additional 227,279 shares in the last quarter. Energy Income Partners LLC lifted its position in shares of Range Resources by 79.0% in the first quarter. Energy Income Partners LLC now owns 612,947 shares of the oil and gas exploration company’s stock worth $27,693,000 after purchasing an additional 270,453 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Range Resources by 626.6% in the first quarter. The Manufacturers Life Insurance Company now owns 1,174,708 shares of the oil and gas exploration company’s stock worth $53,073,000 after purchasing an additional 1,013,039 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Range Resources during the first quarter worth approximately $1,092,000. Finally, Quantinno Capital Management LP grew its position in Range Resources by 49.3% during the first quarter. Quantinno Capital Management LP now owns 119,105 shares of the oil and gas exploration company’s stock valued at $5,381,000 after purchasing an additional 39,339 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRC has been the subject of a number of research reports. UBS Group reduced their price objective on Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Wells Fargo & Company lowered their price target on Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Susquehanna reduced their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Finally, Stephens boosted their target price on shares of Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.35.

Range Resources Stock Up 0.6%

RRC opened at $40.38 on Tuesday. The firm has a market cap of $9.44 billion, a P/E ratio of 11.15 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50 day moving average price of $37.94 and a 200 day moving average price of $39.69. Range Resources Corporation has a twelve month low of $32.60 and a twelve month high of $48.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same quarter last year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Research analysts forecast that Range Resources Corporation will post 3.49 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.10 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is presently 11.05%.

Range Resources Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.