Kentucky Retirement Systems Invests $610,000 in Range Resources Corporation $RRC

Kentucky Retirement Systems acquired a new position in shares of Range Resources Corporation (NYSE:RRC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,492 shares of the oil and gas exploration company’s stock, valued at approximately $610,000.

Several other hedge funds have also recently added to or reduced their stakes in RRC. Los Angeles Capital Management LLC acquired a new stake in Range Resources in the 4th quarter valued at approximately $34,000. Root Financial Partners LLC increased its position in Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 276 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Range Resources during the fourth quarter worth approximately $57,000. Basepoint Wealth LLC acquired a new position in shares of Range Resources during the fourth quarter worth approximately $61,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Range Resources in the fourth quarter valued at approximately $71,000. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RRC. Stephens raised their price objective on shares of Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company reduced their price target on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Morgan Stanley decreased their price target on shares of Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Freedom Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Finally, Bank of America upped their price objective on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.35.

Range Resources Stock Up 1.7%

Shares of RRC opened at $40.22 on Friday. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 11.11 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The company has a 50-day moving average price of $37.96 and a two-hundred day moving average price of $39.60.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts predict that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is 11.05%.

Range Resources Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.