Retirement Systems of Alabama Has $3.04 Million Stake in Range Resources Corp. (RRC)

Retirement Systems of Alabama grew its stake in Range Resources Corp. (NYSE:RRC) by 0.7% during the first quarter, HoldingsChannel.com reports. The firm owned 270,288 shares of the oil and gas exploration company’s stock after buying an additional 1,785 shares during the period. Retirement Systems of Alabama’s holdings in Range Resources were worth $3,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new stake in shares of Range Resources in the 4th quarter valued at $25,000. Rational Advisors LLC increased its position in shares of Range Resources by 3,255.6% in the 4th quarter. Rational Advisors LLC now owns 3,020 shares of the oil and gas exploration company’s stock valued at $29,000 after buying an additional 2,930 shares in the last quarter. Sit Investment Associates Inc. bought a new stake in shares of Range Resources in the 4th quarter valued at $45,000. Ayalon Holdings Ltd. increased its position in shares of Range Resources by 87.1% in the 4th quarter. Ayalon Holdings Ltd. now owns 6,939 shares of the oil and gas exploration company’s stock valued at $66,000 after buying an additional 3,230 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of Range Resources in the 4th quarter valued at $104,000.

Shares of NYSE RRC opened at $9.24 on Monday. The stock has a market capitalization of $2.32 billion, a PE ratio of 8.18, a P/E/G ratio of 0.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.58 and a quick ratio of 0.77. Range Resources Corp. has a fifty-two week low of $9.18 and a fifty-two week high of $18.59.

Range Resources (NYSE:RRC) last issued its earnings results on Monday, April 22nd. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.12. Range Resources had a negative net margin of 54.57% and a positive return on equity of 5.23%. The business had revenue of $748.13 million during the quarter, compared to the consensus estimate of $789.65 million. During the same period last year, the business posted $0.46 EPS. Range Resources’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that Range Resources Corp. will post 0.59 EPS for the current fiscal year.

A number of research firms recently commented on RRC. Jefferies Financial Group restated a “buy” rating and issued a $19.00 price objective on shares of Range Resources in a research report on Wednesday, January 30th. Morgan Stanley set a $11.00 target price on Range Resources and gave the stock a “sell” rating in a report on Tuesday, January 29th. Zacks Investment Research cut Range Resources from a “hold” rating to a “sell” rating in a report on Friday, February 1st. KeyCorp started coverage on Range Resources in a report on Tuesday, January 8th. They set a “sector weight” rating and a $11.13 target price for the company. Finally, SunTrust Banks decreased their price objective on Range Resources to $12.00 and set a “hold” rating for the company in a report on Tuesday, January 8th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Range Resources has an average rating of “Hold” and a consensus target price of $17.51.

In other news, Director Steven D. Gray bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $10.95 per share, for a total transaction of $219,000.00. Following the purchase, the director now owns 7,804 shares of the company’s stock, valued at approximately $85,453.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James M. Funk bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average price of $9.80 per share, with a total value of $98,000.00. Following the completion of the purchase, the director now directly owns 22,706 shares in the company, valued at approximately $222,518.80. The disclosure for this purchase can be found here. Company insiders own 0.35% of the company’s stock.

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About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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

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