New York State Common Retirement Fund Purchases 17,500 Shares of Range Resources Corporation (NYSE:RRC)

New York State Common Retirement Fund raised its position in Range Resources Corporation (NYSE:RRC - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 260,223 shares of the oil and gas exploration company's stock after buying an additional 17,500 shares during the period. New York State Common Retirement Fund owned 0.11% of Range Resources worth $10,391,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of RRC. Bessemer Group Inc. raised its position in Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after acquiring an additional 315 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Range Resources during the 4th quarter worth approximately $42,000. Fifth Third Bancorp raised its holdings in shares of Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock worth $83,000 after purchasing an additional 355 shares during the period. UMB Bank n.a. raised its stake in shares of Range Resources by 124.9% in the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after buying an additional 1,434 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in Range Resources in the 1st quarter valued at about $133,000. Institutional investors own 98.93% of the company's stock.

Insider Transactions at Range Resources

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the completion of the sale, the chief executive officer owned 58,431 shares of the company's stock, valued at $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reginal Spiller sold 4,200 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total transaction of $168,672.00. Following the transaction, the director directly owned 13,663 shares of the company's stock, valued at approximately $548,706.08. This trade represents a 23.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,080 shares of company stock valued at $2,984,479 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Range Resources Price Performance

NYSE:RRC opened at $38.26 on Friday. The stock has a 50 day moving average of $39.60 and a two-hundred day moving average of $38.05. Range Resources Corporation has a 12 month low of $27.29 and a 12 month high of $43.50. The firm has a market cap of $9.14 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 0.32 and a beta of 0.63. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.28.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. Range Resources's payout ratio is 32.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Raymond James Financial boosted their price objective on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Piper Sandler increased their target price on shares of Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Bank of America boosted their price target on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Range Resources currently has a consensus rating of "Hold" and an average target price of $42.79.

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.

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