83,402 Shares in Range Resources Co. (NYSE:RRC) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 83,402 shares of the oil and gas exploration company's stock, valued at approximately $3,001,000.

Other institutional investors have also modified their holdings of the company. Barclays PLC increased its holdings in Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock valued at $6,830,000 after buying an additional 142,938 shares during the period. Janney Montgomery Scott LLC purchased a new position in Range Resources during the fourth quarter valued at approximately $304,000. Geneos Wealth Management Inc. purchased a new position in Range Resources in the fourth quarter worth $46,000. Blue Trust Inc. grew its holdings in Range Resources by 152.1% in the fourth quarter. Blue Trust Inc. now owns 3,426 shares of the oil and gas exploration company's stock worth $123,000 after purchasing an additional 2,067 shares during the last quarter. Finally, KBC Group NV grew its holdings in Range Resources by 44.3% in the fourth quarter. KBC Group NV now owns 9,659 shares of the oil and gas exploration company's stock worth $348,000 after purchasing an additional 2,963 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Susquehanna dropped their price objective on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Stephens reissued an "overweight" rating and set a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. Mizuho boosted their price objective on shares of Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $43.00 to $45.00 in a report on Thursday, March 13th. Finally, UBS Group boosted their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Two research 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 company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $41.95.

Insider Buying and Selling

In other news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the transaction, the director now directly owns 13,663 shares of the company's stock, valued at $548,706.08. This trade represents a 23.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dennis Degner sold 35,850 shares of Range Resources stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 58,431 shares in the company, valued at approximately $2,361,781.02. This trade represents a 38.02% 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 worth $2,984,479 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Range Resources Stock Performance

Range Resources stock traded down $1.32 during midday trading on Wednesday, reaching $37.72. 4,972,304 shares of the stock traded hands, compared to its average volume of 2,489,386. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 5.11 and a beta of 0.60. The firm has a fifty day moving average price of $36.51 and a two-hundred day moving average price of $36.98. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.95%. Range Resources's payout ratio is currently 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.