Vestmark Advisory Solutions Inc. Takes $256,000 Position in Range Resources Co. (NYSE:RRC)

Vestmark Advisory Solutions Inc. bought a new position in Range Resources Co. (NYSE:RRC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,104 shares of the oil and gas exploration company's stock, valued at approximately $256,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Laffer Tengler Investments Inc. purchased a new position in Range Resources in the 3rd quarter worth about $280,000. Nations Financial Group Inc. IA ADV raised its holdings in shares of Range Resources by 64.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 16,430 shares of the oil and gas exploration company's stock valued at $505,000 after acquiring an additional 6,430 shares during the period. Aptus Capital Advisors LLC lifted its holdings in shares of Range Resources by 135.5% in the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company's stock valued at $3,445,000 after purchasing an additional 64,443 shares in the last quarter. Private Wealth Advisors LLC raised its position in Range Resources by 5.5% during the third quarter. Private Wealth Advisors LLC now owns 89,127 shares of the oil and gas exploration company's stock valued at $2,752,000 after buying an additional 4,656 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Range Resources by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company's stock worth $2,025,000 after acquiring an additional 16,134 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com cut shares of Range Resources from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Stephens lifted their target price on shares of Range Resources from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Benchmark reissued a "hold" rating on shares of Range Resources in a research report on Friday, January 17th. Finally, Scotiabank downgraded shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 target price for the company. in a research report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Range Resources has an average rating of "Hold" and a consensus price target of $39.84.

Range Resources Stock Performance

RRC stock traded down $0.19 during midday trading on Thursday, hitting $37.41. The stock had a trading volume of 2,214,488 shares, compared to its average volume of 2,317,904. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a 50-day simple moving average of $38.23 and a 200 day simple moving average of $34.30. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period last year, the firm earned $0.63 EPS. As a group, equities research analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.96%. Range Resources's dividend payout ratio is presently 32.73%.

Range Resources 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.