California Public Employees Retirement System Has $12.59 Million Stock Holdings in Range Resources Co. (NYSE:RRC)

California Public Employees Retirement System lessened its stake in Range Resources Co. (NYSE:RRC) by 4.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 428,241 shares of the oil and gas exploration company’s stock after selling 19,477 shares during the quarter. California Public Employees Retirement System owned 0.18% of Range Resources worth $12,590,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Range Resources by 8.8% in the 1st quarter. FMR LLC now owns 28,963,656 shares of the oil and gas exploration company’s stock valued at $766,668,000 after buying an additional 2,334,862 shares during the period. Vanguard Group Inc. increased its stake in Range Resources by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 25,135,388 shares of the oil and gas exploration company’s stock valued at $634,920,000 after buying an additional 111,026 shares during the period. Exor Capital LLP increased its stake in Range Resources by 9.7% in the 1st quarter. Exor Capital LLP now owns 6,963,163 shares of the oil and gas exploration company’s stock valued at $184,315,000 after buying an additional 616,000 shares during the period. Renaissance Technologies LLC grew its position in Range Resources by 55.5% in the first quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company’s stock worth $106,067,000 after acquiring an additional 1,429,500 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Range Resources by 143.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,897,553 shares of the oil and gas exploration company’s stock worth $103,169,000 after acquiring an additional 2,296,114 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group boosted their target price on shares of Range Resources from $24.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, August 17th. Raymond James raised shares of Range Resources from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Tuesday, October 24th. Siebert Williams Shank downgraded shares of Range Resources from a “buy” rating to a “hold” rating and set a $38.00 target price for the company. in a research report on Monday, August 14th. Stephens reissued an “overweight” rating and issued a $34.00 target price on shares of Range Resources in a research report on Tuesday, July 25th. Finally, Susquehanna boosted their target price on shares of Range Resources from $42.00 to $43.00 and gave the stock a “positive” rating in a research report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus price target of $36.26.

Range Resources Trading Down 0.7 %

Shares of RRC stock opened at $33.47 on Tuesday. Range Resources Co. has a 52-week low of $22.61 and a 52-week high of $37.88. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 6.00, a P/E/G ratio of 0.59 and a beta of 2.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a fifty day moving average of $33.46 and a 200-day moving average of $31.04.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.16. Range Resources had a net margin of 33.85% and a return on equity of 21.56%. The company had revenue of $648.77 million during the quarter, compared to analysts’ expectations of $619.30 million. On average, equities research analysts forecast that Range Resources Co. will post 2.01 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, September 14th. Range Resources’s dividend payout ratio is 5.73%.

Insider Activity

In other news, SVP Dori Ginn sold 25,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $37.35, for a total value of $933,750.00. Following the completion of the transaction, the senior vice president now owns 85,804 shares in the company, valued at approximately $3,204,779.40. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.57% of the company’s stock.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.