Range Resources Corporation (RRC) Position Raised by California Public Employees Retirement System

California Public Employees Retirement System increased its holdings in shares of Range Resources Corporation (NYSE:RRC) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 333,062 shares of the oil and gas exploration company’s stock after purchasing an additional 7,200 shares during the quarter. California Public Employees Retirement System owned approximately 0.14% of Range Resources Corporation worth $7,717,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Smithfield Trust Co. lifted its stake in Range Resources Corporation by 480.0% during the second quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after purchasing an additional 3,840 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Range Resources Corporation by 26.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock worth $110,000 after purchasing an additional 990 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Range Resources Corporation by 886.4% during the first quarter. Ameritas Investment Partners Inc. now owns 5,001 shares of the oil and gas exploration company’s stock worth $145,000 after purchasing an additional 4,494 shares during the last quarter. Financial Architects Inc lifted its stake in Range Resources Corporation by 24.5% during the second quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock worth $141,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Range Resources Corporation by 47.3% during the first quarter. Envestnet Asset Management Inc. now owns 6,445 shares of the oil and gas exploration company’s stock worth $188,000 after purchasing an additional 2,071 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

RRC has been the subject of several recent analyst reports. BidaskClub upgraded Range Resources Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. BMO Capital Markets set a $35.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. Scotiabank set a $35.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Monday, July 17th. Finally, Citigroup Inc. decreased their target price on Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Range Resources Corporation has an average rating of “Buy” and an average price target of $33.89.

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Shares of Range Resources Corporation (NYSE:RRC) opened at 19.93 on Thursday. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 134.66 and a beta of 0.95. Range Resources Corporation has a 12-month low of $15.99 and a 12-month high of $39.92. The firm has a 50-day moving average price of $18.81 and a 200 day moving average price of $22.36.

Range Resources Corporation (NYSE:RRC) last announced its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.20. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The firm had revenue of $565.00 million for the quarter, compared to the consensus estimate of $544.08 million. During the same quarter in the previous year, the business earned ($1.35) EPS. The firm’s revenue for the quarter was up 55.8% on a year-over-year basis. On average, equities research analysts anticipate that Range Resources Corporation will post $0.50 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, September 14th. Range Resources Corporation’s dividend payout ratio (DPR) is presently 100.01%.

In other news, Director Mary Ralph Lowe purchased 10,000 shares of the stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $17.99 per share, for a total transaction of $179,900.00. Following the transaction, the director now owns 25,413 shares in the company, valued at $457,179.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steffen E. Palko purchased 15,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were purchased at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the completion of the transaction, the director now owns 27,267 shares in the company, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 26,000 shares of company stock worth $449,800. 2.40% of the stock is owned by insiders.

About Range Resources Corporation

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

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Institutional Ownership by Quarter for Range Resources Corporation (NYSE:RRC)

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