Tower Research Capital LLC TRC Buys 9,221 Shares of Range Resources Co. (NYSE:RRC)

Tower Research Capital LLC TRC increased its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 133.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,123 shares of the oil and gas exploration company's stock after buying an additional 9,221 shares during the period. Tower Research Capital LLC TRC's holdings in Range Resources were worth $580,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RRC. Smartleaf Asset Management LLC increased its holdings in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after acquiring an additional 471 shares during the last quarter. 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 purchasing an additional 426 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Range Resources in the fourth quarter valued at approximately $42,000. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources during the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc boosted its holdings in Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock worth $56,000 after buying an additional 463 shares during the period. Institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

RRC has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Royal Bank of Canada reissued a "sector perform" rating and set a $42.00 price objective on shares of Range Resources in a report on Friday, April 11th. Roth Mkm upgraded Range Resources from a "neutral" rating to a "buy" rating and upped their price target for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. Wolfe Research raised shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a report on Friday, January 3rd. Finally, Piper Sandler reduced their price objective on shares of Range Resources from $33.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $41.50.

Range Resources Trading Up 2.2 %

Shares of Range Resources stock traded up $0.74 during trading on Friday, reaching $34.96. The company's stock had a trading volume of 2,645,975 shares, compared to its average volume of 2,456,254. 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 Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The firm's 50-day moving average is $36.37 and its two-hundred day moving average is $35.82. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 5.11 and a beta of 1.73.

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

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.09 dividend. This is a boost from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. Range Resources's dividend payout ratio (DPR) is currently 32.14%.

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.