Retirement Systems of Alabama Trims Stake in Range Resources Co. (NYSE:RRC)

Retirement Systems of Alabama cut its position in shares of Range Resources Co. (NYSE:RRC) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 615,014 shares of the oil and gas exploration company’s stock after selling 665 shares during the period. Retirement Systems of Alabama’s holdings in Range Resources were worth $22,128,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Range Resources in the third quarter worth $25,000. UMB Bank n.a. increased its stake in Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares during the period. Blue Trust Inc. increased its stake in Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 705 shares during the period. Geneos Wealth Management Inc. bought a new stake in Range Resources during the 4th quarter valued at about $46,000. Finally, Bogart Wealth LLC purchased a new stake in Range Resources in the 3rd quarter valued at about $49,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Down 3.5 %

Shares of RRC stock opened at $37.59 on Friday. The stock’s fifty day moving average price is $36.70 and its 200 day moving average price is $33.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 18.98 and a beta of 1.77.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Truist Financial raised their price target on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Barclays upped their price objective on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus target price of $38.00.

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.