Range Resources Corp. (RRC) Holdings Trimmed by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its stake in shares of Range Resources Corp. (NYSE:RRC) by 1.2% in the 1st quarter, HoldingsChannel reports. The fund owned 319,320 shares of the oil and gas exploration company’s stock after selling 3,760 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Range Resources were worth $3,589,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RRC. Stevens Capital Management LP lifted its position in shares of Range Resources by 49.8% in the 1st quarter. Stevens Capital Management LP now owns 17,773 shares of the oil and gas exploration company’s stock worth $200,000 after buying an additional 5,909 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Range Resources by 4.0% in the 1st quarter. Texas Permanent School Fund now owns 140,981 shares of the oil and gas exploration company’s stock worth $1,585,000 after buying an additional 5,464 shares during the last quarter. Comerica Bank lifted its position in shares of Range Resources by 1.5% in the 1st quarter. Comerica Bank now owns 162,733 shares of the oil and gas exploration company’s stock worth $1,717,000 after buying an additional 2,454 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Range Resources by 14.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,600,000 shares of the oil and gas exploration company’s stock worth $17,984,000 after buying an additional 200,000 shares during the last quarter. Finally, Sigma Planning Corp bought a new position in shares of Range Resources in the 1st quarter worth about $479,000.

In related news, CFO Mark Scucchi purchased 11,100 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were bought at an average cost of $9.04 per share, for a total transaction of $100,344.00. Following the transaction, the chief financial officer now owns 3,068 shares of the company’s stock, valued at $27,734.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven D. Gray purchased 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $10.95 per share, for a total transaction of $219,000.00. Following the completion of the transaction, the director now directly owns 7,804 shares in the company, valued at approximately $85,453.80. The disclosure for this purchase can be found here. Insiders have acquired a total of 61,100 shares of company stock worth $592,744 over the last 90 days. 0.35% of the stock is owned by insiders.

RRC has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. B. Riley set a $21.00 price objective on shares of Range Resources and gave the company a “buy” rating in a research report on Tuesday, February 26th. TheStreet downgraded shares of Range Resources from a “c” rating to a “d” rating in a research report on Wednesday, March 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Range Resources in a research report on Wednesday, January 30th. Finally, Morgan Stanley set a $11.00 price objective on shares of Range Resources and gave the company a “sell” rating in a research report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Range Resources has an average rating of “Hold” and an average price target of $16.89.

RRC stock opened at $7.96 on Friday. Range Resources Corp. has a 52 week low of $7.61 and a 52 week high of $18.59. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 0.56 and a beta of 1.07. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.54 and a current ratio of 0.58.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Monday, April 22nd. The oil and gas exploration company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Range Resources had a negative net margin of 54.57% and a positive return on equity of 5.23%. The company had revenue of $748.13 million for the quarter, compared to the consensus estimate of $789.65 million. During the same period in the previous year, the firm earned $0.46 EPS. Range Resources’s revenue was up .7% on a year-over-year basis. On average, research analysts expect that Range Resources Corp. will post 0.65 EPS for the current year.

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About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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