Louisiana State Employees Retirement System Invests $2.06 Million in Range Resources Co. (NYSE:RRC)

Louisiana State Employees Retirement System acquired a new position in shares of Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 67,800 shares of the oil and gas exploration company's stock, valued at approximately $2,064,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Raleigh Capital Management Inc. bought a new position in shares of Range Resources during the third quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in Range Resources in the 3rd quarter valued at about $27,000. Lazard Asset Management LLC purchased a new stake in Range Resources during the second quarter valued at about $28,000. Proffitt & Goodson Inc. bought a new position in Range Resources in the 3rd quarter worth approximately $32,000. Finally, Larson Financial Group LLC lifted its position in shares of Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company's stock worth $40,000 after acquiring an additional 900 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on RRC shares. StockNews.com upgraded Range Resources to a "sell" rating in a research note on Wednesday, March 13th. Mizuho reiterated a "buy" rating and set a $39.00 target price on shares of Range Resources in a research report on Thursday, April 11th. Raymond James cut their price target on shares of Range Resources from $37.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, January 24th. Susquehanna restated a "neutral" rating and set a $34.00 price objective (down previously from $43.00) on shares of Range Resources in a research report on Friday, January 26th. Finally, Benchmark lowered Range Resources from a "buy" rating to a "hold" rating in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $35.75.

Range Resources Stock Up 0.2 %

RRC stock traded up $0.06 during midday trading on Thursday, hitting $34.78. The stock had a trading volume of 1,459,678 shares, compared to its average volume of 2,537,324. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 9.82 and a beta of 1.83. The business has a 50-day moving average of $32.89 and a two-hundred day moving average of $32.21. Range Resources Co. has a 52-week low of $23.92 and a 52-week high of $37.88.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.21. The company had revenue of $941.40 million during the quarter, compared to analyst estimates of $672.25 million. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. Range Resources's quarterly revenue was down 42.3% compared to the same quarter last year. During the same period last year, the business earned $1.26 EPS. As a group, equities research analysts forecast that Range Resources Co. will post 1.91 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.92%. Range Resources's dividend payout ratio (DPR) is presently 9.04%.

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.