Oregon Public Employees Retirement Fund Decreases Stock Holdings in Range Resources Co. (NYSE:RRC)

Oregon Public Employees Retirement Fund reduced its holdings in Range Resources Co. (NYSE:RRC) by 15.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 50,400 shares of the oil and gas exploration company’s stock after selling 9,166 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Range Resources were worth $1,690,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Fifth Third Bancorp grew its position in Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after acquiring an additional 299 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in shares of Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares during the period. CIBC Asset Management Inc increased its position in shares of Range Resources by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after purchasing an additional 350 shares during the last quarter. Orser Capital Management LLC raised its holdings in Range Resources by 0.8% during the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after buying an additional 427 shares during the period. Finally, Lmcg Investments LLC raised its holdings in Range Resources by 0.4% during the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after buying an additional 546 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on RRC. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, July 24th. Wells Fargo & Company cut their price target on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Wolfe Research started coverage on shares of Range Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho upped their target price on Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Susquehanna reduced their price target on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.74.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $28.19 on Friday. The firm has a 50 day moving average of $31.33 and a 200 day moving average of $33.65. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 14.31 and a beta of 1.88. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. During the same quarter in the previous year, the business posted $0.27 EPS. Range Resources’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Range Resources Co. will post 2.08 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s payout ratio is currently 16.24%.

About Range Resources

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.