Renaissance Technologies LLC Buys 41,800 Shares of Ranger Energy Services, Inc. $RNGR

Renaissance Technologies LLC grew its stake in shares of Ranger Energy Services, Inc. (NYSE:RNGR) by 15.8% in the first quarter, Holdings Channel reports. The institutional investor owned 306,790 shares of the company’s stock after purchasing an additional 41,800 shares during the period. Renaissance Technologies LLC’s holdings in Ranger Energy Services were worth $5,258,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. IES Holdings Inc. bought a new position in Ranger Energy Services during the fourth quarter valued at about $15,201,000. JPMorgan Chase & Co. raised its holdings in 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 in the last quarter. Simcoe Capital LLC bought a new stake in shares of Ranger Energy Services in the 4th quarter worth approximately $2,801,000. AQR Capital Management LLC lifted its position in shares of Ranger Energy Services by 44.4% in the 4th quarter. AQR Capital Management LLC now owns 580,611 shares of the company’s stock worth $8,117,000 after acquiring an additional 178,486 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Ranger Energy Services by 84.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 288,857 shares of the company’s stock worth $4,056,000 after purchasing an additional 132,297 shares in the last quarter. Institutional investors own 68.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RNGR shares. 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 report on Wednesday, April 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ranger Energy Services in a research report on Wednesday, June 24th. Zacks Research upgraded shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. Finally, Wall Street Zen raised shares of Ranger Energy Services from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.00.

Ranger Energy Services Trading Down 1.2%

NYSE RNGR opened at $15.81 on Thursday. The stock’s 50 day moving average is $15.70 and its two-hundred day moving average is $16.30. The company has a market capitalization of $375.77 million, a price-to-earnings ratio of 26.36 and a beta of 0.12. Ranger Energy Services, Inc. has a 1-year low of $11.88 and a 1-year high of $18.82.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings data on Monday, July 27th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Ranger Energy Services had a net margin of 2.36% and a return on equity of 4.87%. The company had revenue of $176.50 million during the quarter, compared to the consensus estimate of $163.93 million. On average, analysts predict that Ranger Energy Services, Inc. will post 1.17 earnings per share for the current year.

Ranger Energy Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 7th. Ranger Energy Services’s dividend payout ratio is 40.00%.

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.