Easterly Investment Partners LLC Acquires 24,400 Shares of Range Resources Co. (NYSE:RRC)

Easterly Investment Partners LLC grew its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,959 shares of the oil and gas exploration company's stock after acquiring an additional 24,400 shares during the period. Easterly Investment Partners LLC owned 0.06% of Range Resources worth $5,216,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RRC. M&T Bank Corp raised its stake in shares of Range Resources by 3.1% during the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock valued at $332,000 after purchasing an additional 327 shares during the period. Commerce Bank increased its position in shares of Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company's stock valued at $211,000 after buying an additional 369 shares during the period. CIBC Asset Management Inc increased its position in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock valued at $268,000 after buying an additional 378 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Range Resources by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock worth $508,000 after buying an additional 379 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Range Resources by 1.3% in the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after acquiring an additional 390 shares during the period. 98.93% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RRC shares. Scotiabank lowered shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 target price on the stock. in a report on Friday, January 17th. Citigroup cut shares of Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Mizuho lifted their price objective on Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Raymond James boosted their target price on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Barclays set a $43.00 price target on Range Resources and gave the company an "equal weight" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.60.

Range Resources Trading Up 2.1 %

NYSE:RRC traded up $0.84 during trading hours on Monday, reaching $40.03. The company's stock had a trading volume of 859,279 shares, compared to its average volume of 2,346,319. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 5.11 and a beta of 1.80. The firm has a 50-day simple moving average of $38.52 and a 200-day simple moving average of $35.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95.

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

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. This is an increase from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's payout ratio is presently 32.73%.

Range Resources Company 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.