Teacher Retirement System of Texas Reduces Position in Range Resources Co. (NYSE:RRC)

Teacher Retirement System of Texas reduced its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 51.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,965 shares of the oil and gas exploration company's stock after selling 21,914 shares during the quarter. Teacher Retirement System of Texas' holdings in Range Resources were worth $754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in Range Resources by 3.1% during the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock valued at $332,000 after buying an additional 327 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Range Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after acquiring an additional 378 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock worth $508,000 after acquiring an additional 379 shares during the last quarter. King Luther Capital Management Corp grew its holdings in Range Resources by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after purchasing an additional 390 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Range Resources by 0.6% during the 4th quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after purchasing an additional 395 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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Range Resources Stock Down 6.2 %

Range Resources stock traded down $2.51 during trading hours on Thursday, reaching $38.10. The stock had a trading volume of 3,506,238 shares, compared to its average volume of 2,360,424. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 5.11 and a beta of 1.73. 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 business's 50 day moving average price is $38.43 and its 200-day moving average price is $35.43.

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

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.94%. This is an increase from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. Range Resources's payout ratio is 32.73%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RRC shares. Wells Fargo & Company boosted their target price on Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Mizuho upped their price objective on Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Morgan Stanley upgraded Range Resources from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $40.00 to $49.00 in a research report on Wednesday, March 26th. Benchmark restated a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Finally, Scotiabank lowered shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective for the company. in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $41.60.

Range Resources Company 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.