California Public Employees Retirement System Trims Stock Holdings in Range Resources Co. (NYSE:RRC)

California Public Employees Retirement System trimmed its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,306 shares of the oil and gas exploration company's stock after selling 16,172 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Range Resources worth $14,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its position in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after acquiring an additional 426 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Range Resources during the 4th quarter worth $46,000. Versant Capital Management Inc boosted its position in shares of Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after acquiring an additional 463 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Range Resources by 72.0% in the fourth quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock valued at $78,000 after purchasing an additional 912 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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Range Resources Stock Up 7.8 %

Shares of RRC traded up $2.50 during midday trading on Wednesday, reaching $34.60. The stock had a trading volume of 5,182,152 shares, compared to its average volume of 2,412,299. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company's fifty day simple moving average is $37.89 and its two-hundred day simple moving average is $35.56. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 5.11 and a beta of 1.73. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $41.95.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period last year, the firm earned $0.63 earnings per share. Equities research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.04%. This is an increase from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's dividend payout ratio is 32.73%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Range Resources from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $43.00 to $45.00 in a report on Thursday, March 13th. Scotiabank cut Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 target price for the company. in a research note on Friday, January 17th. Stephens set a $51.00 price target on Range Resources and gave the company an "overweight" rating in a research note on Thursday, April 3rd. Citigroup downgraded Range Resources from a "neutral" rating to a "reduce" rating in a research report on Wednesday, March 5th. Finally, StockNews.com upgraded shares of Range Resources from a "sell" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $41.71.

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.