New York State Teachers Retirement System Has $8.60 Million Stock Position in Range Resources Co. (NYSE:RRC)

New York State Teachers Retirement System reduced its position in shares of Range Resources Co. (NYSE:RRC) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,603 shares of the oil and gas exploration company’s stock after selling 4,269 shares during the period. New York State Teachers Retirement System owned approximately 0.12% of Range Resources worth $8,601,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 705 shares in the last quarter. Bogart Wealth LLC acquired a new position in Range Resources during the third quarter valued at approximately $49,000. Fifth Third Bancorp raised its position in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new position in Range Resources during the second quarter valued at approximately $67,000. Finally, International Assets Investment Management LLC acquired a new position in Range Resources during the second quarter valued at approximately $67,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles G. Griffie bought 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of research reports. Morgan Stanley decreased their target price on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research note on Thursday, September 12th. Mizuho decreased their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Susquehanna decreased their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus price target of $35.00.

Range Resources Trading Down 0.7 %

RRC opened at $29.82 on Monday. 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 fifty-two week low of $27.29 and a fifty-two week high of $39.33. The firm has a market capitalization of $7.20 billion, a PE ratio of 15.06 and a beta of 1.80. The company’s 50-day moving average is $30.24 and its 200 day moving average is $32.84.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. During the same quarter in the prior year, the business posted $0.43 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, research analysts predict that Range Resources Co. will post 1.87 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. Range Resources’s dividend payout ratio is presently 16.16%.

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.