Range Resources Co. (NYSE:RRC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Range Resources Co. (NYSE:RRC) by 2.7% during the third quarter, Holdings Channel reports. The fund owned 77,457 shares of the oil and gas exploration company’s stock after selling 2,120 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Range Resources were worth $2,383,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RRC. Brooklyn Investment Group purchased a new stake in Range Resources during the 3rd quarter worth about $25,000. Blue Trust Inc. increased its stake in shares of 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 worth $46,000 after buying an additional 705 shares during the period. Bogart Wealth LLC acquired a new stake in Range Resources in the third quarter valued at approximately $49,000. Fifth Third Bancorp lifted its stake 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 during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Range Resources during the 2nd quarter worth approximately $67,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Down 2.0 %

Range Resources stock opened at $35.35 on Monday. The stock has a 50 day moving average of $32.92 and a two-hundred day moving average of $32.38. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 17.85 and a beta of 1.85. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. As a group, research analysts expect that Range Resources Co. will post 1.91 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources’s payout ratio is 16.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and increased their price objective for the company from $28.00 to $35.00 in a report on Monday, December 9th. Wells Fargo & Company decreased their target price on Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.50.

Insider Transactions at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles G. Griffie purchased 1,275 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company’s stock.

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.