Ranger Energy Services, Inc. $RNGR Stock Position Boosted by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Ranger Energy Services by 9.8%, acquiring an additional 26,076 shares during Q1, bringing its total ownership to around 291,632 shares valued at approximately $4.14 million.
• Ranger Energy Services recently reported earnings of $0.32 EPS for the quarter, exceeding analysts' expectations of $0.24, though revenue of $140.6 million fell slightly short of the expected $141.7 million.
• The company declared a quarterly dividend of $0.06 per share, representing an annualized yield of 1.8%, with a payout ratio currently at 24.24%.

Acadian Asset Management LLC grew its holdings in shares of Ranger Energy Services, Inc. (NYSE:RNGR - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 291,632 shares of the company's stock after buying an additional 26,076 shares during the quarter. Acadian Asset Management LLC owned 1.30% of Ranger Energy Services worth $4,135,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. CWM LLC grew its stake in Ranger Energy Services by 28.3% during the first quarter. CWM LLC now owns 5,850 shares of the company's stock worth $83,000 after buying an additional 1,289 shares during the period. US Bancorp DE purchased a new stake in Ranger Energy Services during the first quarter worth approximately $25,000. Rhumbline Advisers grew its stake in Ranger Energy Services by 8.5% during the first quarter. Rhumbline Advisers now owns 24,277 shares of the company's stock worth $344,000 after buying an additional 1,906 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Ranger Energy Services by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 43,682 shares of the company's stock worth $620,000 after buying an additional 2,001 shares during the period. Finally, Pinnacle Holdings LLC purchased a new stake in Ranger Energy Services during the first quarter worth approximately $29,000. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RNGR shares. Piper Sandler started coverage on shares of Ranger Energy Services in a research note on Monday, July 14th. They set a "neutral" rating and a $13.00 price objective for the company. Zacks Research upgraded shares of Ranger Energy Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 12th. Finally, Wall Street Zen upgraded shares of Ranger Energy Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ranger Energy Services has a consensus rating of "Buy" and a consensus target price of $13.00.

Insider Transactions at Ranger Energy Services

In related news, Director Brett T. Agee sold 14,014 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $14.51, for a total value of $203,343.14. Following the sale, the director directly owned 987,791 shares of the company's stock, valued at $14,332,847.41. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 81,688 shares of company stock valued at $1,140,042 over the last 90 days. Corporate insiders own 2.80% of the company's stock.

Ranger Energy Services Price Performance

RNGR traded down $0.54 during trading on Friday, hitting $13.83. The company had a trading volume of 533,629 shares, compared to its average volume of 160,155. The company has a market cap of $302.05 million, a PE ratio of 13.97 and a beta of 0.45. The business has a 50-day moving average of $13.17 and a 200-day moving average of $12.75. Ranger Energy Services, Inc. has a 1-year low of $10.56 and a 1-year high of $18.45.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.08. The firm had revenue of $140.60 million for the quarter, compared to analysts' expectations of $141.70 million. Ranger Energy Services had a net margin of 3.92% and a return on equity of 8.36%.

Ranger Energy Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.24 annualized dividend and a yield of 1.7%. Ranger Energy Services's dividend payout ratio is currently 24.24%.

About Ranger Energy Services

Ranger Energy Services, Inc provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States. It operates through three segments: High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services.