Zacks Research Upgrades Ranger Energy Services (NYSE:RNGR) to “Hold”

Ranger Energy Services (NYSE:RNGR) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on RNGR. Wall Street Zen cut shares of Ranger Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Piper Sandler upgraded Ranger Energy Services from a “neutral” rating to an “overweight” rating in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ranger Energy Services in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.00.

Ranger Energy Services Trading Down 3.3%

RNGR stock opened at $14.21 on Monday. Ranger Energy Services has a 1-year low of $10.56 and a 1-year high of $18.45. The firm has a market cap of $307.12 million, a PE ratio of 21.86 and a beta of 0.15. The business’s 50-day moving average price is $13.90 and its two-hundred day moving average price is $13.50.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings results on Monday, November 10th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). Ranger Energy Services had a return on equity of 5.60% and a net margin of 2.72%.The business had revenue of $128.90 million for the quarter, compared to analyst estimates of $141.00 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Quantbot Technologies LP increased its position in shares of Ranger Energy Services by 51.7% during 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 during the last quarter. BNP Paribas Financial Markets increased its holdings in Ranger Energy Services by 97.0% during the third 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 last quarter. CWM LLC raised its position in Ranger Energy Services by 20.3% during the second quarter. CWM LLC now owns 7,035 shares of the company’s stock worth $84,000 after acquiring an additional 1,185 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Ranger Energy Services by 46.0% in the 3rd 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 period. Finally, Engineers Gate Manager LP acquired a new position in shares of Ranger Energy Services during the 2nd quarter worth about $125,000. 68.10% of the stock is owned by institutional investors and hedge funds.

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.