Retirement Systems of Alabama Sells 665 Shares of Range Resources Co. (NYSE:RRC)

Retirement Systems of Alabama lessened its holdings in shares of Range Resources Co. (NYSE:RRC) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 615,014 shares of the oil and gas exploration company’s stock after selling 665 shares during the quarter. Retirement Systems of Alabama owned approximately 0.25% of Range Resources worth $22,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in Range Resources during the third quarter valued at $25,000. UMB Bank n.a. raised its stake in shares of Range Resources by 59.0% in the fourth 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 during the period. Blue Trust Inc. lifted its position in shares of Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Range Resources during the 4th quarter valued at about $46,000. Finally, Bogart Wealth LLC bought a new position in shares of Range Resources during the 3rd quarter valued at approximately $49,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of several analyst reports. Citigroup lifted their price target on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial lifted their target price on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company increased their price target on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Barclays boosted their price objective on Range Resources from $34.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.00.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $37.59 on Friday. The firm has a fifty day simple moving average of $36.70 and a two-hundred day simple moving average of $33.06. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.07 billion, a P/E ratio of 18.98 and a beta of 1.77. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95.

Range Resources Dividend Announcement

The business 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 0.85%. Range Resources’s dividend payout ratio (DPR) 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.