Ranger Energy Services (NYSE:RNGR) Trading 0.2% Higher – Time to Buy?

Ranger Energy Services, Inc. (NYSE:RNGR)’s share price was up 0.2% on Monday . The stock traded as high as $16.54 and last traded at $16.1150. Approximately 349,150 shares changed hands during mid-day trading, an increase of 85% from the average daily 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 research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ranger Energy Services in a research note on Wednesday, June 24th. Piper Sandler lifted their target price on shares of Ranger Energy Services from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Ranger Energy Services from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Zacks Research raised Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.00.

Ranger Energy Services Trading Up 0.7%

The company’s fifty day simple moving average is $15.85 and its 200-day simple moving average is $16.13. The stock has a market cap of $384.56 million, a P/E ratio of 25.72 and a beta of 0.12.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings data on Monday, April 27th. The company reported $0.12 earnings per share (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, analysts expect that Ranger Energy Services, Inc. will post 1.13 earnings per share for the current fiscal year.

Ranger Energy Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, May 8th. Ranger Energy Services’s payout ratio is presently 38.10%.

Institutional Trading of Ranger Energy Services

Several large investors have recently made changes to their positions in RNGR. Dimensional Fund Advisors LP lifted its position in Ranger Energy Services by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,273,108 shares of the company’s stock worth $21,822,000 after buying an additional 41,648 shares in the last quarter. IES Holdings Inc. acquired a new position in Ranger Energy Services during the 4th quarter valued at about $15,201,000. Vanguard Group Inc. raised its position in shares of Ranger Energy Services by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 845,875 shares of the company’s stock valued at $11,876,000 after acquiring an additional 13,970 shares during the last quarter. AQR Capital Management LLC increased its holdings in Ranger Energy Services by 44.4% in the fourth quarter. AQR Capital Management LLC now owns 580,611 shares of the company’s stock valued at $8,117,000 after purchasing an additional 178,486 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Ranger Energy Services by 2,718.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company’s stock valued at $5,186,000 after acquiring an additional 418,894 shares during the period. Institutional investors 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.