South Dakota Investment Council Trims Position in Range Resources Co. (NYSE:RRC)

South Dakota Investment Council cut its holdings in shares of Range Resources Co. (NYSE:RRC - Free Report) by 38.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,341 shares of the oil and gas exploration company's stock after selling 27,600 shares during the quarter. South Dakota Investment Council's holdings in Range Resources were worth $1,350,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Raleigh Capital Management Inc. acquired a new stake in Range Resources during the third quarter worth about $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in Range Resources during the third quarter valued at approximately $27,000. Proffitt & Goodson Inc. acquired a new stake in shares of Range Resources in the 3rd quarter valued at $32,000. Larson Financial Group LLC raised its holdings in shares of Range Resources by 267.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company's stock worth $40,000 after buying an additional 900 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Range Resources by 57.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company's stock worth $43,000 after buying an additional 490 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Range Resources Trading Down 0.2 %

NYSE RRC traded down $0.08 during trading hours on Thursday, hitting $37.69. 4,254,440 shares of the company's stock were exchanged, compared to its average volume of 2,592,524. Range Resources Co. has a 1-year low of $23.92 and a 1-year high of $38.25. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $33.67 and a 200 day simple moving average of $32.40. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 19.13 and a beta of 1.83.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The company had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the previous year, the business posted $0.96 EPS. Range Resources's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts forecast that Range Resources Co. will post 1.99 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Range Resources's dividend payout ratio is currently 16.24%.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of recent analyst reports. Susquehanna lifted their target price on Range Resources from $34.00 to $36.00 and gave the company a "neutral" rating in a research report on Monday. Barclays initiated coverage on shares of Range Resources in a research report on Wednesday, April 10th. They set an "underweight" rating and a $35.00 price objective for the company. Raymond James decreased their target price on shares of Range Resources from $37.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 24th. Stifel Nicolaus increased their price target on Range Resources from $36.00 to $39.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Citigroup lifted their price target on Range Resources from $33.00 to $37.00 and gave the company a "neutral" rating in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Range Resources has a consensus rating of "Hold" and an average price target of $36.40.

Insider Transactions at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the firm's stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the sale, the vice president now owns 22,370 shares of the company's stock, valued at $844,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.57% of the company's stock.

About Range Resources

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.