Ranger Energy Services (NYSE:RNGR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ranger Energy Services (NYSE:RNGR) from a buy rating to a strong-buy rating in a report released on Saturday.

Separately, Piper Sandler assumed coverage on shares of Ranger Energy Services in a report on Monday, July 14th. They issued a “neutral” rating and a $13.00 target price for the company.

Ranger Energy Services Stock Up 0.2%

RNGR opened at $12.63 on Friday. Ranger Energy Services has a twelve month low of $10.56 and a twelve month high of $18.45. The company has a 50-day simple moving average of $12.39 and a 200 day simple moving average of $13.38. The stock has a market capitalization of $275.73 million, a price-to-earnings ratio of 12.75 and a beta of 0.43.

Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.08. Ranger Energy Services had a net margin of 3.92% and a return on equity of 8.36%. The business had revenue of $140.60 million during the quarter, compared to analysts’ expectations of $141.70 million.

Ranger Energy Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.9%. Ranger Energy Services’s dividend payout ratio is 24.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RNGR. JPMorgan Chase & Co. lifted its holdings in shares of Ranger Energy Services by 502.5% in the fourth quarter. JPMorgan Chase & Co. now owns 42,153 shares of the company’s stock worth $653,000 after acquiring an additional 35,157 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of Ranger Energy Services in the fourth quarter valued at approximately $1,570,000. Geode Capital Management LLC increased its stake in shares of Ranger Energy Services by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 355,976 shares of the company’s stock valued at $5,511,000 after buying an additional 4,183 shares during the period. Wells Fargo & Company MN increased its stake in shares of Ranger Energy Services by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 9,195 shares of the company’s stock valued at $142,000 after buying an additional 2,003 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Ranger Energy Services in the fourth quarter valued at approximately $155,000. Institutional investors own 68.10% of the company’s stock.

About Ranger Energy Services

Ranger Energy Services, Inc provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States. It operates through three segments: High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services.