Ranger Energy Services (NYSE:RNGR) Upgraded at Zacks Research

Zacks Research upgraded shares of Ranger Energy Services (NYSE:RNGR) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

Several other brokerages have also recently commented on RNGR. Piper Sandler upgraded shares of Ranger Energy Services from a “neutral” rating to an “overweight” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ranger Energy Services in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Ranger Energy Services from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.00.

Ranger Energy Services Price Performance

Shares of NYSE:RNGR opened at $15.01 on Monday. The stock has a market cap of $324.41 million, a price-to-earnings ratio of 23.10 and a beta of 0.15. Ranger Energy Services has a 12 month low of $10.56 and a 12 month high of $18.45. The stock’s 50 day moving average price is $13.92 and its 200 day moving average price is $13.51.

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 analysts’ consensus estimates of $0.38 by ($0.33). Ranger Energy Services had a net margin of 2.72% and a return on equity of 5.60%. The firm had revenue of $128.90 million for the quarter, compared to the consensus estimate of $141.00 million.

Ranger Energy Services Dividend Announcement

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

Hedge Funds Weigh In On Ranger Energy Services

A number of large investors have recently made changes to their positions in the business. 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 valued at $84,000 after acquiring an additional 1,185 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Ranger Energy Services by 6.9% during 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 last quarter. Quantbot Technologies LP raised its holdings 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 valued at $75,000 after purchasing an additional 2,140 shares in the last quarter. Russell Investments Group Ltd. lifted its stake 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 purchasing an additional 2,525 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Ranger Energy Services by 97.0% in the third quarter. BNP Paribas Financial Markets now owns 5,602 shares of the company’s stock worth $79,000 after purchasing an additional 2,758 shares in the last quarter. Institutional investors and hedge funds own 68.10% of the company’s stock.

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.