Alaska Permanent Fund Corp Has $2.52 Million Stake in Range Resources Co. (NYSE:RRC)

Alaska Permanent Fund Corp increased its holdings in shares of Range Resources Co. (NYSE:RRC) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,621 shares of the oil and gas exploration company’s stock after buying an additional 721 shares during the period. Alaska Permanent Fund Corp’s holdings in Range Resources were worth $2,515,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Raleigh Capital Management Inc. bought a new stake in Range Resources in the 3rd quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Range Resources in the third quarter worth approximately $27,000. Proffitt & Goodson Inc. bought a new position in shares of Range Resources in the third quarter worth approximately $32,000. Larson Financial Group LLC grew its holdings in shares of Range Resources by 267.9% in the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 900 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on RRC shares. Truist Financial cut their price target on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the stock from $40.00 to $45.00 in a research report on Thursday, April 11th. Stifel Nicolaus boosted their price target on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday. Mizuho reissued a “buy” rating and issued a $39.00 price target on shares of Range Resources in a report on Thursday, April 11th. Finally, Citigroup upped their price objective on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.40.

Range Resources Stock Up 0.7 %

Shares of NYSE RRC traded up $0.26 during mid-day trading on Thursday, reaching $38.03. The company had a trading volume of 354,266 shares, compared to its average volume of 2,542,163. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $9.21 billion, a PE ratio of 19.17 and a beta of 1.83. Range Resources Co. has a twelve month low of $23.92 and a twelve month high of $38.25. The stock’s 50 day moving average is $33.52 and its 200-day moving average is $32.37.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The company had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter last year, the business posted $0.96 earnings per share. The company’s revenue was down 15.7% on a year-over-year basis. As a group, equities analysts anticipate that Range Resources Co. will post 1.99 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.84%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

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.