Range Resources Co. (NYSE:RRC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of Range Resources Co. (NYSE:RRC) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 87,358 shares of the oil and gas exploration company’s stock after selling 673 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Range Resources were worth $3,143,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Range Resources in the third quarter worth about $25,000. UMB Bank n.a. raised its position in shares of Range Resources by 59.0% during 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 in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Range Resources in the 4th quarter worth approximately $46,000. Blue Trust Inc. boosted its holdings in shares of Range Resources by 107.8% in 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 acquiring an additional 705 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after acquiring an additional 463 shares during the period. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

RRC opened at $39.97 on Thursday. The firm has a market capitalization of $9.65 billion, a P/E ratio of 20.19 and a beta of 1.77. The stock has a fifty day moving average of $37.44 and a 200-day moving average of $33.53. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. Range Resources’s payout ratio is presently 16.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RRC. Mizuho increased their price target on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. UBS Group raised their target price on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research report on Friday, January 17th. Finally, Stephens boosted their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.78.

Range Resources Company 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.