Ranger Energy Services (NYSE:RNGR) Stock Price Down 1.6% – Here’s Why

Ranger Energy Services, Inc. (NYSE:RNGR)’s share price fell 1.6% during mid-day trading on Friday. The company traded as low as $14.76 and last traded at $15.00. 159,580 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 147,291 shares. The stock had previously closed at $15.24.

Analysts Set New Price Targets

A number of research firms have weighed in on RNGR. Zacks Research raised shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Ranger Energy Services in a report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Ranger Energy Services presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Ranger Energy Services Stock Down 1.6%

The company has a market capitalization of $351 million, a price-to-earnings ratio of 25.00 and a beta of 0.27. The company has a 50 day simple moving average of $15.78 and a 200 day simple moving average of $16.21.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings data on Monday, July 27th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $176.50 million during the quarter, compared to analyst estimates of $163.93 million. Ranger Energy Services had a net margin of 2.36% and a return on equity of 4.87%. On average, research analysts forecast that Ranger Energy Services, Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP J. Hooker sold 11,620 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.63, for a total value of $193,240.60. Following the transaction, the vice president owned 87,528 shares in the company, valued at approximately $1,455,590.64. This trade represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stuart Bodden sold 95,000 shares of Ranger Energy Services stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $17.16, for a total transaction of $1,630,200.00. Following the transaction, the chief executive officer directly owned 273,800 shares in the company, valued at approximately $4,698,408. This trade represents a 25.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ranger Energy Services

Several institutional investors have recently bought and sold shares of RNGR. Vise Technologies Inc. increased its position in shares of Ranger Energy Services by 6.0% in the third quarter. Vise Technologies Inc. now owns 16,036 shares of the company’s stock worth $244,000 after acquiring an additional 913 shares in the last quarter. Signaturefd LLC raised its stake in shares of Ranger Energy Services by 342.8% in the 3rd quarter. Signaturefd LLC now owns 4,720 shares of the company’s stock valued at $72,000 after acquiring an additional 3,654 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Ranger Energy Services during the 2nd quarter valued at $46,000. Squarepoint Ops LLC acquired a new position in shares of Ranger Energy Services during the 2nd quarter valued at $931,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Ranger Energy Services during the 2nd quarter valued at $445,000. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

About Ranger Energy Services

Ranger Energy Services, Inc is an oilfield services company that supports the development, maintenance and production of oil and natural gas wells. The company primarily serves the onshore U.S. energy market, providing services throughout the life cycle of mature and producing wells.

Its operations include well servicing, workover and completion services, wireline and electric-line services, and equipment rental. Ranger’s well-servicing business uses a fleet of rigs to perform activities such as well maintenance, recompletions, remedial work and plugging and abandonment.