Strs Ohio Takes $1.21 Million Position in Range Resources Corporation $RRC

Key Points

• Strs Ohio has acquired 30,339 shares of Range Resources Corporation, valued at approximately $1.2 million, reflecting growing institutional interest in the company.
• Range Resources recently reported an earnings per share (EPS) of $0.66, exceeding the consensus estimate and generating revenue of $856.28 million for the quarter.
• The company declared a quarterly dividend of $0.09 per share, representing an annualized dividend yield of 1.0%, with an ex-dividend date set for September 12th.

Strs Ohio acquired a new position in Range Resources Corporation (NYSE:RRC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,339 shares of the oil and gas exploration company's stock, valued at approximately $1,211,000.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Range Resources by 98.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company's stock worth $720,000 after acquiring an additional 8,941 shares during the last quarter. Informed Momentum Co LLC purchased a new stake in Range Resources during the 1st quarter worth approximately $3,575,000. Advisor Resource Council purchased a new stake in Range Resources during the 1st quarter worth approximately $622,000. Goehring & Rozencwajg Associates LLC increased its stake in Range Resources by 1.8% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company's stock worth $57,803,000 after buying an additional 25,403 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in Range Resources during the 1st quarter worth approximately $612,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Down 0.7%

Shares of NYSE RRC traded down $0.26 during mid-day trading on Thursday, reaching $35.29. The company had a trading volume of 2,462,086 shares, compared to its average volume of 2,735,766. The firm has a 50 day simple moving average of $35.18 and a two-hundred day simple moving average of $36.94. Range Resources Corporation has a 52-week low of $28.99 and a 52-week high of $43.50. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.40 billion, a P/E ratio of 17.73, a PEG ratio of 0.30 and a beta of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The company had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same quarter last year, the company posted $0.46 earnings per share. Sell-side analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources's payout ratio is 18.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Scotiabank set a $46.00 target price on shares of Range Resources and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $45.00 target price on shares of Range Resources in a research note on Tuesday, July 15th. Bank of America increased their price objective on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Roth Capital downgraded shares of Range Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $44.00 to $35.00 in a research report on Monday, August 18th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $42.45.

Range Resources Company 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.