Ranger Energy Services (NYSE:RNGR) Announces Earnings Results

Ranger Energy Services (NYSE:RNGR) released its quarterly earnings data on Monday. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.18), Zacks reports. Ranger Energy Services had a return on equity of 5.12% and a net margin of 2.58%.

Ranger Energy Services Stock Down 1.7%

NYSE:RNGR traded down $0.27 during trading hours on Monday, reaching $15.44. The company had a trading volume of 232,594 shares, compared to its average volume of 211,587. The stock has a 50-day moving average of $15.81 and a two-hundred day moving average of $16.24. Ranger Energy Services has a one year low of $11.88 and a one year high of $18.82. The firm has a market capitalization of $366.81 million, a PE ratio of 24.51 and a beta of 0.12.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RNGR shares. Piper Sandler lifted their target price on Ranger Energy Services from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings restated a “hold (c)” rating on shares of Ranger Energy Services in a report on Wednesday, June 24th. Zacks Research upgraded Ranger Energy Services from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Finally, Wall Street Zen upgraded Ranger Energy Services from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. One equities research 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 stock has an average rating of “Hold” and an average target price of $20.00.

Institutional Investors Weigh In On Ranger Energy Services

Large investors have recently bought and sold shares of the business. CSM Advisors LLC grew its holdings in shares of Ranger Energy Services by 0.4% during the fourth quarter. CSM Advisors LLC now owns 300,849 shares of the company’s stock worth $4,207,000 after purchasing an additional 1,055 shares during the last quarter. Nuveen LLC lifted its position in Ranger Energy Services by 2.0% during the 4th quarter. Nuveen LLC now owns 63,266 shares of the company’s stock worth $884,000 after buying an additional 1,251 shares in the last quarter. First Trust Advisors LP grew its holdings in Ranger Energy Services by 2.8% during the 4th quarter. First Trust Advisors LP now owns 45,567 shares of the company’s stock worth $637,000 after acquiring an additional 1,260 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Ranger Energy Services by 16.1% during the 4th quarter. Russell Investments Group Ltd. now owns 9,299 shares of the company’s stock worth $130,000 after acquiring an additional 1,290 shares during the last quarter. Finally, Rhumbline Advisers increased 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 valued at $402,000 after acquiring an additional 1,849 shares in the last quarter. 68.10% of the stock is currently owned by institutional investors.

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.