Ranger Energy Services, Inc. (NYSE:RNGR) Sees Significant Drop in Short Interest

Ranger Energy Services, Inc. (NYSE:RNGR) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 304,008 shares, a drop of 18.3% from the December 15th total of 371,912 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily volume of 153,980 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 153,980 shares, the short-interest ratio is presently 2.0 days. Approximately 1.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RNGR. Weiss Ratings reiterated a “hold (c)” rating on shares of Ranger Energy Services in a research report on Monday, December 29th. Piper Sandler upgraded Ranger Energy Services from a “neutral” rating to an “overweight” rating in a research note on Thursday, December 18th. Wall Street Zen cut Ranger Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Zacks Research downgraded Ranger Energy Services from a “hold” rating to a “strong sell” rating in a research report on Friday, December 19th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RNGR. CWM LLC lifted its holdings in shares of Ranger Energy Services by 20.3% in the 2nd quarter. CWM LLC now owns 7,035 shares of the company’s stock worth $84,000 after acquiring an additional 1,185 shares during the last quarter. Rhumbline Advisers raised its position in Ranger Energy Services by 6.9% in the 3rd quarter. Rhumbline Advisers now owns 28,662 shares of the company’s stock worth $402,000 after purchasing an additional 1,849 shares during the period. Quantbot Technologies LP lifted its stake in Ranger Energy Services by 51.7% in the second 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. Russell Investments Group Ltd. lifted its stake in Ranger Energy Services by 46.0% in the third 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 last quarter. Finally, BNP Paribas Financial Markets boosted its position 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 valued at $79,000 after buying an additional 2,758 shares during the period. 68.10% of the stock is owned by hedge funds and other institutional investors.

Ranger Energy Services Stock Down 0.1%

NYSE:RNGR traded down $0.02 during midday trading on Monday, hitting $14.70. The company had a trading volume of 110,139 shares, compared to its average volume of 162,052. The company has a market capitalization of $317.62 million, a PE ratio of 22.61 and a beta of 0.15. Ranger Energy Services has a 52-week low of $10.56 and a 52-week high of $18.45. The stock’s fifty day moving average price is $13.88 and its 200-day moving average price is $13.47.

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

Ranger Energy Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.24 annualized dividend and a yield of 1.6%. Ranger Energy Services’s dividend payout ratio is currently 36.92%.

About Ranger Energy Services

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.