Ranger Energy Services (NYSE:RNGR) Issues Earnings Results

Ranger Energy Services (NYSE:RNGR) announced its earnings results on Monday. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01), FiscalAI reports. Ranger Energy Services had a net margin of 2.58% and a return on equity of 5.12%. The business had revenue of $176.50 million during the quarter, compared to the consensus estimate of $163.93 million.

Ranger Energy Services Stock Performance

NYSE:RNGR opened at $15.44 on Tuesday. The firm’s fifty day moving average is $15.78 and its 200-day moving average is $16.25. Ranger Energy Services has a 52 week low of $11.88 and a 52 week high of $18.82. The firm has a market cap of $366.81 million, a P/E ratio of 24.51 and a beta of 0.12.

Ranger Energy Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Ranger Energy Services’s dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

RNGR has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ranger Energy Services in a research note on Wednesday, June 24th. Piper Sandler boosted their price objective on shares of Ranger Energy Services from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Zacks Research raised Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. Finally, Wall Street Zen raised shares of Ranger Energy Services from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake 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 buying an additional 2,758 shares during the period. Quantbot Technologies LP grew its position in Ranger Energy Services by 51.7% in the 2nd quarter. Quantbot Technologies LP now owns 6,277 shares of the company’s stock worth $75,000 after purchasing an additional 2,140 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Ranger Energy Services by 46.0% during the third quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company’s stock valued at $112,000 after acquiring an additional 2,525 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Ranger Energy Services during the 2nd quarter valued at $125,000. Finally, Osaic Holdings Inc. increased its holdings in Ranger Energy Services by 134.1% during the second quarter. Osaic Holdings Inc. now owns 10,626 shares of the company’s stock worth $127,000 after buying an additional 6,087 shares during the last quarter. Institutional investors and hedge funds own 68.10% of the company’s stock.

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.