Wall Street Zen Downgrades Ranger Energy Services (NYSE:RNGR) to Buy

Ranger Energy Services (NYSE:RNGR) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

RNGR has been the topic of a number of other research reports. Zacks Research raised shares of Ranger Energy Services from a “hold” rating to a “strong-buy” rating in a report on Friday, September 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ranger Energy Services in a report on Wednesday, October 8th. Finally, Piper Sandler started coverage on Ranger Energy Services in a research report on Monday, July 14th. They issued a “neutral” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.00.

Ranger Energy Services Stock Performance

NYSE:RNGR opened at $12.36 on Friday. The business’s fifty day moving average is $13.57 and its 200 day moving average is $12.64. The firm has a market cap of $269.94 million, a price-to-earnings ratio of 12.48 and a beta of 0.43. Ranger Energy Services has a 52-week low of $10.56 and a 52-week high of $18.45.

Ranger Energy Services (NYSE:RNGR) last issued its earnings results on Monday, July 28th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.24 by $0.08. Ranger Energy Services had a return on equity of 8.36% and a net margin of 3.92%.The business had revenue of $140.60 million during the quarter, compared to the consensus estimate of $141.70 million.

Insider Buying and Selling

In other Ranger Energy Services news, Director Brett T. Agee sold 36,374 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $14.49, for a total transaction of $527,059.26. Following the sale, the director owned 1,001,805 shares in the company, valued at $14,516,154.45. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 81,688 shares of company stock valued at $1,140,042 over the last quarter. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ranger Energy Services

Large investors have recently modified their holdings of the company. Encompass Capital Advisors LLC grew its position in Ranger Energy Services by 0.8% during the second quarter. Encompass Capital Advisors LLC now owns 1,513,284 shares of the company’s stock valued at $18,069,000 after acquiring an additional 12,716 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Ranger Energy Services by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 539,685 shares of the company’s stock valued at $6,444,000 after purchasing an additional 57,313 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Ranger Energy Services by 2,718.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company’s stock valued at $5,186,000 after purchasing an additional 418,894 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Ranger Energy Services by 15.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 414,921 shares of the company’s stock worth $4,954,000 after purchasing an additional 55,240 shares during the period. Finally, Geode Capital Management LLC raised its position in Ranger Energy Services by 6.7% in the 2nd quarter. Geode Capital Management LLC now owns 387,100 shares of the company’s stock worth $4,623,000 after purchasing an additional 24,396 shares during the period. 68.10% of the stock is owned by hedge funds and other institutional investors.

About Ranger Energy Services

Ranger Energy Services, Inc provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States. It operates through three segments: High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services.