Kentucky Retirement Systems Insurance Trust Fund Makes New $208,000 Investment in Range Resources Co. (NYSE:RRC)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Range Resources Co. (NYSE:RRC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,787 shares of the oil and gas exploration company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RRC. Brooklyn Investment Group purchased a new position in shares of Range Resources in the third quarter worth $25,000. UMB Bank n.a. increased its stake in shares of Range Resources by 59.0% in the fourth 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 period. Blue Trust Inc. increased its stake in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of Range Resources in the fourth quarter worth $46,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Range Resources in the third quarter worth $49,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 2.7 %

Shares of NYSE RRC opened at $39.97 on Thursday. The company’s 50-day simple moving average is $37.44 and its 200-day simple moving average is $33.53. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 20.19 and a beta of 1.77. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.80%. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RRC shares. UBS Group increased their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Mizuho increased their price objective on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Barclays increased their price objective on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Finally, Benchmark restated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company 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.