Ranger Energy Services (NYSE:RNGR) Upgraded to “Buy” at Wall Street Zen

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

Several other analysts have also issued reports on RNGR. Zacks Research upgraded Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Ranger Energy Services in a report on Friday, March 27th. Finally, Piper Sandler boosted their price objective on Ranger Energy Services from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

Ranger Energy Services Stock Down 1.2%

Ranger Energy Services stock opened at $17.04 on Friday. The firm has a 50 day moving average price of $16.94 and a 200-day moving average price of $15.02. Ranger Energy Services has a twelve month low of $10.56 and a twelve month high of $17.98. The company has a market capitalization of $401.17 million, a P/E ratio of 31.55 and a beta of 0.17.

Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). Ranger Energy Services had a net margin of 2.25% and a return on equity of 4.54%. The firm had revenue of $142.20 million during the quarter, compared to analysts’ expectations of $140.67 million.

Ranger Energy Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Friday, March 20th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. Ranger Energy Services’s payout ratio is presently 44.44%.

Hedge Funds Weigh In On Ranger Energy Services

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Ranger Energy Services by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 244,598 shares of the company’s stock valued at $3,471,000 after purchasing an additional 25,923 shares during the period. Empowered Funds LLC boosted its stake in Ranger Energy Services by 5.5% in the 1st quarter. Empowered Funds LLC now owns 137,775 shares of the company’s stock worth $1,955,000 after purchasing an additional 7,150 shares during the period. Jane Street Group LLC grew its holdings in Ranger Energy Services by 71.5% during the 1st quarter. Jane Street Group LLC now owns 19,000 shares of the company’s stock valued at $270,000 after buying an additional 7,924 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Ranger Energy Services during the 2nd quarter valued at about $132,000. Finally, Geode Capital Management LLC increased its position in shares of Ranger Energy Services by 6.7% during the second quarter. Geode Capital Management LLC now owns 387,100 shares of the company’s stock valued at $4,623,000 after buying an additional 24,396 shares during the period. 68.10% of the stock is 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.