Ranger Energy Services (NYSE:RNGR) Trading 2.4% Higher – Here’s Why

Shares of Ranger Energy Services, Inc. (NYSE:RNGR) rose 2.4% during trading on Monday . The stock traded as high as $15.67 and last traded at $15.6530. 178,581 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 171,699 shares. The stock had previously closed at $15.28.

Analysts Set New Price Targets

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

Ranger Energy Services Price Performance

The company’s 50-day moving average is $16.37 and its 200-day moving average is $15.94. The firm has a market capitalization of $359.96 million, a price-to-earnings ratio of 24.05 and a beta of 0.12.

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

Ranger Energy Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.6%. Ranger Energy Services’s payout ratio is currently 38.10%.

Institutional Inflows and Outflows

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