Ranger Energy Services (NYSE:RNGR) Shares Up 0.2% – What’s Next?

Ranger Energy Services, Inc. (NYSE:RNGR)’s share price shot up 0.2% during trading on Monday . The company traded as high as $16.54 and last traded at $16.1150. Approximately 349,150 shares changed hands during trading, an increase of 85% from the average session volume of 188,855 shares. The stock had previously closed at $16.09.

Analyst Upgrades and Downgrades

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

Ranger Energy Services Trading Up 0.2%

The firm has a market cap of $382.89 million, a price-to-earnings ratio of 25.58 and a beta of 0.12. The company has a fifty day moving average price of $15.86 and a 200-day moving average price of $16.12.

Ranger Energy Services (NYSE:RNGR) last posted its 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%. As a group, research analysts forecast that Ranger Energy Services, Inc. will post 1.13 earnings per share for the current fiscal year.

Ranger Energy Services Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.5%. Ranger Energy Services’s dividend payout ratio (DPR) is presently 38.10%.

Hedge Funds Weigh In On Ranger Energy Services

Several large investors have recently made changes to their positions in RNGR. Acuitas Investments LLC grew its position in Ranger Energy Services by 52.8% during the third quarter. Acuitas Investments LLC now owns 226,479 shares of the company’s stock valued at $3,180,000 after buying an additional 78,259 shares during the period. UBS Group AG increased its holdings in Ranger Energy Services by 106.4% in the fourth quarter. UBS Group AG now owns 179,044 shares of the company’s stock valued at $2,503,000 after buying an additional 92,299 shares in the last quarter. Simcoe Capital LLC acquired a new position in shares of Ranger Energy Services in the fourth quarter worth about $2,801,000. LSV Asset Management raised its position in shares of Ranger Energy Services by 952.8% in the fourth quarter. LSV Asset Management now owns 37,900 shares of the company’s stock worth $530,000 after acquiring an additional 34,300 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Ranger Energy Services by 9.5% in the first quarter. First Trust Advisors LP now owns 49,915 shares of the company’s stock worth $856,000 after acquiring an additional 4,348 shares during the period. 68.10% of the stock is currently 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.