23,495 Shares in Range Resources Corporation $RRC Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund bought a new stake in shares of Range Resources Corporation (NYSE:RRC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 23,495 shares of the oil and gas exploration company’s stock, valued at approximately $884,000.

A number of other institutional investors and hedge funds have also modified their holdings of RRC. CWA Asset Management Group LLC boosted its position in Range Resources by 43.5% in the third quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company’s stock worth $14,626,000 after purchasing an additional 117,722 shares during the last quarter. Laffer Tengler Investments Inc. bought a new position in shares of Range Resources in the 2nd quarter worth approximately $370,000. Congress Asset Management Co. boosted its holdings in shares of Range Resources by 12.1% in the third quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock worth $20,299,000 after buying an additional 58,335 shares during the last quarter. Builder Investment Group Inc. ADV grew its position in Range Resources by 84.5% during the third quarter. Builder Investment Group Inc. ADV now owns 136,820 shares of the oil and gas exploration company’s stock valued at $5,150,000 after buying an additional 62,675 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new stake in Range Resources during the third quarter valued at approximately $1,581,000. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank Of Canada decreased their price target on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Range Resources in a research report on Monday, December 29th. Morgan Stanley cut their price target on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Bank of America reaffirmed a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Finally, Citigroup lowered their price objective on Range Resources from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $41.12.

Range Resources Price Performance

NYSE:RRC opened at $39.28 on Friday. The business’s 50-day simple moving average is $35.63 and its two-hundred day simple moving average is $36.15. Range Resources Corporation has a 52 week low of $30.32 and a 52 week high of $43.50. The stock has a market cap of $9.31 billion, a PE ratio of 16.51, a P/E/G ratio of 0.34 and a beta of 0.58. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Range Resources’s payout ratio is currently 15.13%.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.