Louisiana State Employees Retirement System Makes New $3.10 Million Investment in Range Resources Corporation $RRC

Louisiana State Employees Retirement System acquired a new position in shares of Range Resources Corporation (NYSE:RRC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,700 shares of the oil and gas exploration company’s stock, valued at approximately $3,104,000.

Other hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC bought a new position in shares of Range Resources in the 4th quarter valued at about $34,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Range Resources in the fourth quarter valued at about $57,000. Basepoint Wealth LLC bought a new stake in Range Resources during the fourth quarter worth about $61,000. International Assets Investment Management LLC acquired a new position in Range Resources during the fourth quarter valued at approximately $71,000. Finally, Clearstead Advisors LLC boosted its position in Range Resources by 439.5% during the third quarter. Clearstead Advisors LLC now owns 2,104 shares of the oil and gas exploration company’s stock valued at $79,000 after purchasing an additional 1,714 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the sale, the director directly owned 28,668 shares in the company, valued at $1,272,859.20. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Range Resources Price Performance

Shares of NYSE:RRC opened at $37.37 on Monday. The firm has a 50 day moving average of $40.17 and a 200-day moving average of $39.23. The stock has a market capitalization of $8.81 billion, a PE ratio of 9.89 and a beta of 0.42. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The company’s revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 EPS. On average, equities research analysts predict that Range Resources Corporation will post 3.71 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s dividend payout ratio is presently 10.58%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stephens set a $53.00 price objective on shares of Range Resources in a research note on Tuesday, June 23rd. TD Cowen raised their target price on shares of Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Barclays lifted their price target on Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Morgan Stanley boosted their price target on Range Resources from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings cut Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $43.94.

Range Resources 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.