35,700 Shares in Range Resources Corporation $RRC Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Range Resources Corporation (NYSE:RRC) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 35,700 shares of the oil and gas exploration company’s stock, valued at approximately $1,452,000.

A number of other large investors have also bought and sold shares of RRC. Hollencrest Capital Management bought a new stake in Range Resources during the 1st quarter worth approximately $33,000. Bessemer Group Inc. grew its position in Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Range Resources during the 1st quarter worth approximately $39,000. Barrett & Company Inc. bought a new stake in Range Resources during the 2nd quarter worth approximately $41,000. Finally, Ameritas Advisory Services LLC bought a new stake in Range Resources during the 2nd quarter worth approximately $47,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Performance

RRC stock opened at $36.28 on Thursday. The business’s fifty day moving average is $35.71 and its 200-day moving average is $36.73. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.64 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 0.33 and a beta of 0.51. Range Resources Corporation has a twelve month low of $29.48 and a twelve month high of $43.50.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter in the prior year, the business posted $0.46 EPS. Equities research analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s dividend payout ratio is 18.09%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RRC shares. Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, October 16th. Wells Fargo & Company raised Range Resources to a “strong-buy” rating in a report on Thursday, October 16th. Susquehanna reduced their price objective on Range Resources to $39.00 and set a “neutral” rating on the stock in a report on Monday. Scotiabank set a $46.00 price objective on Range Resources and gave the stock a “sector perform” rating in a report on Friday, July 11th. Finally, Piper Sandler reduced their price objective on Range Resources from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.05.

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.