Range Resources Corporation $RRC Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Range Resources stake by 22% in the first quarter, reaching 275,387 shares valued at approximately $12.4 million. Institutional investors collectively own 98.93% of the company.
• Range Resources reported quarterly EPS of $0.79, beating estimates of $0.66, while revenue of $759.6 million exceeded expectations but declined 2.7% year over year.
• The company pays a quarterly dividend of $0.10 per share, representing a 1.0% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $43.35, compared with a recent share price of $40.38.

California State Teachers Retirement System increased its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 22.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 275,387 shares of the oil and gas exploration company's stock after acquiring an additional 49,574 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Range Resources worth $12,442,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RRC. Boston Partners grew its holdings in shares of Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock valued at $445,196,000 after purchasing an additional 4,398,042 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Range Resources by 517.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company's stock worth $91,852,000 after purchasing an additional 2,045,165 shares during the period. UBS Group AG lifted its holdings in shares of Range Resources by 66.3% in the 4th quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock worth $126,532,000 after purchasing an additional 1,430,477 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Range Resources during the 1st quarter valued at approximately $64,481,000. Finally, Morgan Stanley boosted its position in Range Resources by 54.1% during the 4th quarter. Morgan Stanley now owns 3,267,227 shares of the oil and gas exploration company's stock valued at $115,202,000 after purchasing an additional 1,147,304 shares during the period. Institutional investors own 98.93% of the company's stock.

Range Resources Trading Up 0.6%

NYSE:RRC opened at $40.38 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 1-year low of $32.60 and a 1-year high of $48.31. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 11.15 and a beta of 0.42. The stock has a fifty day simple moving average of $37.94 and a 200 day simple moving average of $39.69.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The firm had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same quarter in the previous year, the company earned $0.66 EPS. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Range Resources Corporation will post 3.49 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources's payout ratio is currently 11.05%.

Wall Street Analyst Weigh In

RRC has been the topic of a number of recent research reports. Zacks Research cut Range Resources from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Bank of America lifted their price objective on shares of Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Raymond James Financial set a $45.00 target price on shares of Range Resources in a research report on Monday, July 27th. Truist Financial reduced their price objective on Range Resources from $46.00 to $43.00 and set a "hold" rating for the company in a research report on Friday, July 10th. Finally, The Goldman Sachs Group decreased their price target on Range Resources from $44.00 to $39.00 and set a "neutral" rating for the company in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $43.35.

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.

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