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

Townsquare Capital LLC boosted its holdings in shares of Range Resources Co. (NYSE:RRC) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,477 shares of the oil and gas exploration company’s stock after buying an additional 10,022 shares during the quarter. Townsquare Capital LLC’s holdings in Range Resources were worth $3,183,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp increased its stake in shares of Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after purchasing an additional 327 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of 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 valued at $268,000 after acquiring an additional 378 shares during the period. Commonwealth Equity Services LLC increased its holdings in Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock worth $508,000 after acquiring an additional 379 shares in the last quarter. 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 worth $1,130,000 after purchasing an additional 390 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of 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 worth $2,528,000 after purchasing an additional 395 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RRC. JPMorgan Chase & Co. upgraded Range Resources from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $43.00 to $45.00 in a research note on Thursday, March 13th. Piper Sandler boosted their price target on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Truist Financial increased their price objective on shares of Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday, March 17th. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company raised their price target on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.81.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $33.38 on Tuesday. 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 company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 5.11 and a beta of 1.73. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $41.95. The firm’s 50-day moving average is $37.59 and its 200 day moving average is $35.64.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 firm had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period in the prior year, the business posted $0.63 earnings per share. Research analysts predict that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.08%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) 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.