Range Resources Co. (NYSE:RRC) Stake Lowered by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in Range Resources Co. (NYSE:RRC) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 87,358 shares of the oil and gas exploration company’s stock after selling 673 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Range Resources were worth $3,143,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RRC. Nations Financial Group Inc. IA ADV raised its stake in shares of Range Resources by 30.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 21,431 shares of the oil and gas exploration company’s stock worth $771,000 after purchasing an additional 5,001 shares in the last quarter. Rhumbline Advisers increased its holdings in Range Resources by 1.6% in the fourth quarter. Rhumbline Advisers now owns 663,320 shares of the oil and gas exploration company’s stock worth $23,866,000 after buying an additional 10,401 shares during the last quarter. PUREfi Wealth LLC acquired a new position in Range Resources in the fourth quarter worth approximately $270,000. Blue Trust Inc. raised its position in Range Resources by 105.2% during the fourth quarter. Blue Trust Inc. now owns 2,788 shares of the oil and gas exploration company’s stock valued at $100,000 after acquiring an additional 1,429 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Range Resources by 13.5% in the fourth quarter. Van ECK Associates Corp now owns 173,863 shares of the oil and gas exploration company’s stock valued at $6,256,000 after acquiring an additional 20,744 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 2.7 %

Shares of RRC opened at $39.97 on Thursday. The stock’s 50-day moving average price is $37.44 and its 200 day moving average price is $33.53. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 20.19 and a beta of 1.77.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.80%. Range Resources’s payout ratio is 16.16%.

Analyst Upgrades and Downgrades

RRC has been the topic of a number of recent research reports. Barclays raised their price target on shares of Range Resources from $34.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. StockNews.com raised Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price objective on shares of Range Resources in a report on Tuesday, January 14th. Citigroup boosted their target price on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Piper Sandler increased their price target on Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.78.

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.