Ranger Energy Services (NYSE:RNGR) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Ranger Energy Services (NYSE:RNGR) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other equities analysts have also recently weighed in on the company. Piper Sandler upgraded Ranger Energy Services from a “neutral” rating to an “overweight” rating in a report on Thursday, December 18th. Zacks Research upgraded shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ranger Energy Services in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.00.

Ranger Energy Services Price Performance

Shares of NYSE RNGR opened at $16.78 on Friday. The company has a market capitalization of $362.68 million, a P/E ratio of 31.07 and a beta of 0.17. The company has a 50 day simple moving average of $16.73 and a 200-day simple moving average of $14.83. Ranger Energy Services has a 1 year low of $10.56 and a 1 year high of $17.98.

Ranger Energy Services (NYSE:RNGR) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.06). The business had revenue of $142.20 million during the quarter, compared to analysts’ expectations of $140.67 million. Ranger Energy Services had a return on equity of 4.54% and a net margin of 2.25%.

Ranger Energy Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Friday, March 20th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, March 20th. Ranger Energy Services’s dividend payout ratio (DPR) is currently 44.44%.

Institutional Investors Weigh In On Ranger Energy Services

Institutional investors and hedge funds have recently modified their holdings of the company. IES Holdings Inc. purchased a new position in Ranger Energy Services during the 4th quarter valued at about $15,201,000. JPMorgan Chase & Co. grew its position in Ranger Energy Services by 2,718.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company’s stock valued at $5,186,000 after acquiring an additional 418,894 shares in the last quarter. Simcoe Capital LLC acquired a new position in Ranger Energy Services in the 4th quarter valued at about $2,801,000. AQR Capital Management LLC increased its stake in Ranger Energy Services by 44.4% during the fourth quarter. AQR Capital Management LLC now owns 580,611 shares of the company’s stock worth $8,117,000 after purchasing an additional 178,486 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Ranger Energy Services by 84.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 288,857 shares of the company’s stock worth $4,056,000 after purchasing an additional 132,297 shares during the period. Hedge funds and other institutional investors 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.