Ranger Energy Services (NYSE:RNGR) Trading Up 2.4% – Here’s What Happened

Ranger Energy Services, Inc. (NYSE:RNGR)’s share price traded up 2.4% during trading on Monday . The company traded as high as $15.67 and last traded at $15.6530. Approximately 178,581 shares were traded during trading, an increase of 4% from the average session volume of 171,699 shares. The stock had previously closed at $15.28.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen raised Ranger Energy Services from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Zacks Research downgraded Ranger Energy Services from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Piper Sandler increased their target price on shares of Ranger Energy Services from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ranger Energy Services in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.00.

Ranger Energy Services Price Performance

The company has a market capitalization of $371.92 million, a price-to-earnings ratio of 24.85 and a beta of 0.12. The firm’s fifty day moving average price is $16.40 and its 200-day moving average price is $15.93.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings data on Monday, April 27th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.24). The firm had revenue of $159.10 million for the quarter, compared to analyst estimates of $156.20 million. Ranger Energy Services had a net margin of 2.58% and a return on equity of 5.12%. On average, research analysts predict that Ranger Energy Services, Inc. will post 1.13 earnings per share for the current year.

Ranger Energy Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.06 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.24 annualized dividend and a yield of 1.5%. Ranger Energy Services’s dividend payout ratio (DPR) is currently 38.10%.

Institutional Trading of Ranger Energy Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP raised its holdings in Ranger Energy Services by 51.7% in the 2nd quarter. Quantbot Technologies LP now owns 6,277 shares of the company’s stock valued at $75,000 after buying an additional 2,140 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Ranger Energy Services by 97.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,602 shares of the company’s stock worth $79,000 after acquiring an additional 2,758 shares during the last quarter. Copeland Capital Management LLC grew its holdings in Ranger Energy Services by 43.3% during the 1st quarter. Copeland Capital Management LLC now owns 5,766 shares of the company’s stock worth $99,000 after acquiring an additional 1,741 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Ranger Energy Services by 46.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company’s stock worth $112,000 after acquiring an additional 2,525 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Ranger Energy Services in the 2nd quarter valued at approximately $125,000. 68.10% of the stock is currently owned by institutional investors.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc, based in The Woodlands, Texas, is a North American land drilling contractor serving exploration and production companies in the oil and natural gas industry. The company provides contract drilling, well servicing, pressure pumping and completion support services designed to enhance operational efficiency and optimize well performance.

Through its diversified fleet of drilling and service rigs and ancillary equipment, Ranger offers turnkey solutions across all phases of the drilling lifecycle—from pad construction and drilling to completion and workover operations.