Range Resources Corporation (NYSE:RRC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,015 shares of the oil and gas exploration company's stock after selling 7,888 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Range Resources worth $10,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 471 shares during the period. Bessemer Group Inc. grew 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 acquired a new stake in Range Resources during the fourth quarter worth $42,000. Fifth Third Bancorp raised its position in Range Resources by 20.6% in the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after purchasing an additional 355 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Range Resources by 124.9% in the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after purchasing an additional 1,434 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Insider Activity

In other news, Director James M. Funk sold 13,582 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total value of $475,777.46. Following the completion of the transaction, the director owned 54,394 shares in the company, valued at approximately $1,905,421.82. This represents a 19.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the transaction, the senior vice president directly owned 13,800 shares in the company, valued at $560,556. This trade represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock valued at $2,984,479 over the last 90 days. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

RRC has been the subject of a number of recent analyst reports. Roth Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Stephens restated an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. Piper Sandler increased their price objective on shares of Range Resources from $32.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Susquehanna dropped their target price on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $42.00 price target on shares of Range Resources in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $41.95.

Range Resources Stock Down 0.7%

NYSE:RRC traded down $0.28 during mid-day trading on Friday, hitting $38.53. The stock had a trading volume of 1,217,777 shares, compared to its average volume of 2,517,639. 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 Corporation has a twelve month low of $27.29 and a twelve month high of $43.50. The company has a market capitalization of $9.21 billion, a PE ratio of 34.40, a PEG ratio of 0.31 and a beta of 0.63. The stock has a 50-day simple moving average of $38.96 and a two-hundred day simple moving average of $37.76.

Range Resources Dividend Announcement

The firm also recently announced 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. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

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.