Royce & Associates LP lowered its stake in Ranger Energy Services Inc (NYSE:RNGR) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 527,636 shares of the company’s stock after selling 23,073 shares during the period. Royce & Associates LP owned 3.45% of Ranger Energy Services worth $4,205,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new position in Ranger Energy Services in the fourth quarter valued at approximately $77,000. Vanguard Group Inc boosted its position in shares of Ranger Energy Services by 6.1% during the third quarter. Vanguard Group Inc now owns 256,399 shares of the company’s stock worth $2,148,000 after purchasing an additional 14,832 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Ranger Energy Services by 6.1% during the third quarter. Vanguard Group Inc. now owns 256,399 shares of the company’s stock worth $2,148,000 after purchasing an additional 14,832 shares in the last quarter. Finally, B. Riley Financial Inc. boosted its position in shares of Ranger Energy Services by 1.2% during the fourth quarter. B. Riley Financial Inc. now owns 886,726 shares of the company’s stock worth $4,584,000 after purchasing an additional 10,500 shares in the last quarter. 28.21% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on RNGR shares. Zacks Investment Research upgraded shares of Ranger Energy Services from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Wednesday, April 10th. Barclays reiterated a “buy” rating and set a $11.00 price objective on shares of Ranger Energy Services in a research report on Sunday, May 5th. Credit Suisse Group set a $8.00 price objective on shares of Ranger Energy Services and gave the stock a “hold” rating in a research report on Thursday, March 7th. Finally, ValuEngine upgraded shares of Ranger Energy Services from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.29.
In related news, CFO John Brandon Blossman acquired 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $6.35 per share, for a total transaction of $47,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Brc Partners Opportunity Fund, sold 4,914 shares of Ranger Energy Services stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $8.29, for a total transaction of $40,737.06. The disclosure for this sale can be found here. In the last quarter, insiders bought 9,000 shares of company stock valued at $58,800 and sold 56,983 shares valued at $437,416. Corporate insiders own 4.86% of the company’s stock.
NYSE RNGR traded up $0.38 on Wednesday, hitting $7.48. 4,145 shares of the company were exchanged, compared to its average volume of 9,184. Ranger Energy Services Inc has a 12 month low of $4.70 and a 12 month high of $10.78. The stock has a market capitalization of $112.05 million, a P/E ratio of 16.62 and a beta of 3.10. The stock’s fifty day moving average is $6.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.04 and a current ratio of 1.13.
Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.11. The firm had revenue of $88.30 million for the quarter, compared to analyst estimates of $86.70 million. Ranger Energy Services had a net margin of 1.34% and a return on equity of 2.31%. As a group, research analysts anticipate that Ranger Energy Services Inc will post 0.81 earnings per share for the current year.
About Ranger Energy Services
Ranger Energy Services, Inc provides well service rigs and related services in the United States. It operates through three segments: High Specification Rigs, Completion and Other Services, and Processing Solutions. The company offers well completion support services, such as milling out composite plugs used during hydraulic fracturing, wireline, and snubbing services; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.
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