Townsquare Capital LLC Buys 10,022 Shares of Range Resources Co. (NYSE:RRC)

Townsquare Capital LLC lifted its position in Range Resources Co. (NYSE:RRC - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,477 shares of the oil and gas exploration company's stock after acquiring an additional 10,022 shares during the quarter. Townsquare Capital LLC's holdings in Range Resources were worth $3,183,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. M&T Bank Corp grew its holdings in shares of Range Resources by 3.1% during the third 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 last quarter. CIBC Asset Management Inc grew its stake in Range Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after buying an additional 378 shares during the last quarter. Commonwealth Equity Services LLC increased its position in 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 during the period. King Luther Capital Management Corp increased its position in 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 worth $1,130,000 after buying an additional 390 shares during the period. Finally, Arizona State Retirement System lifted its stake in Range Resources by 0.6% in the fourth quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company's stock valued at $2,528,000 after buying an additional 395 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RRC shares. Benchmark reaffirmed a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Williams Trading set a $40.00 target price on Range Resources in a research report on Wednesday, March 5th. Scotiabank lowered Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price target on the stock. in a report on Friday, January 17th. Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $41.00 to $42.00 in a research note on Tuesday, April 8th. Finally, Raymond James raised their target price on shares of Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and an average price target of $41.43.

Range Resources Stock Performance

Range Resources stock traded up $0.04 on Friday, reaching $34.14. 3,726,095 shares of the stock were exchanged, compared to its average volume of 2,443,038. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The firm has a fifty day moving average price of $37.22 and a two-hundred day moving average price of $35.66. The stock has a market cap of $8.24 billion, a PE ratio of 17.24, a PEG ratio of 5.11 and a beta of 1.73.

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

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, March 14th. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is 32.73%.

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.