American Century Companies Inc. Raises Stock Position in Ranger Energy Services, Inc. $RNGR

Key Points

• American Century Companies Inc. increased its stake in Ranger Energy Services by 18.0%, acquiring an additional 73,445 shares, bringing its total holdings to 482,372 shares valued at approximately $6.85 million.
• Ranger Energy Services recently announced a quarterly dividend of $0.06 per share, translating to an annualized dividend yield of 1.7%, with a payout ratio of 24.24%.
• Analysts have set a target price of $13.00 for Ranger Energy Services, with a consensus rating of "Hold," despite previous ratings indicating a stronger buy sentiment.

American Century Companies Inc. boosted its holdings in shares of Ranger Energy Services, Inc. (NYSE:RNGR - Free Report) by 18.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 482,372 shares of the company's stock after buying an additional 73,445 shares during the quarter. American Century Companies Inc. owned 2.17% of Ranger Energy Services worth $6,845,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Ranger Energy Services by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,034,476 shares of the company's stock valued at $16,013,000 after purchasing an additional 75,088 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Ranger Energy Services by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 377,231 shares of the company's stock valued at $5,840,000 after purchasing an additional 4,381 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Ranger Energy Services by 3.2% during the 4th quarter. Northern Trust Corp now owns 127,087 shares of the company's stock valued at $1,967,000 after purchasing an additional 3,887 shares in the last quarter. Nuveen LLC purchased a new position in shares of Ranger Energy Services during the 1st quarter valued at approximately $1,776,000. Finally, LPL Financial LLC increased its holdings in shares of Ranger Energy Services by 7.2% during the 1st quarter. LPL Financial LLC now owns 95,145 shares of the company's stock valued at $1,350,000 after purchasing an additional 6,400 shares in the last quarter. 68.10% of the stock is owned by hedge funds and other institutional investors.

Ranger Energy Services Stock Performance

Ranger Energy Services stock traded up $0.15 during trading on Monday, reaching $14.28. The company had a trading volume of 109,673 shares, compared to its average volume of 143,887. The firm's 50-day simple moving average is $12.64 and its 200 day simple moving average is $13.02. Ranger Energy Services, Inc. has a 1-year low of $10.56 and a 1-year high of $18.45. The firm has a market capitalization of $311.88 million, a PE ratio of 14.42 and a beta of 0.45.

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

Ranger Energy Services Announces Dividend

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

Analysts Set New Price Targets

RNGR has been the subject of several recent research reports. Wall Street Zen lowered shares of Ranger Energy Services from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Piper Sandler began coverage on shares of Ranger Energy Services in a research note on Monday, July 14th. They issued a "neutral" rating and a $13.00 price target on the stock. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Ranger Energy Services has an average rating of "Hold" and an average price target of $13.00.

Insider Buying and Selling at Ranger Energy Services

In related news, Director Brett T. Agee sold 11,147 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $12.63, for a total value of $140,786.61. Following the sale, the director directly owned 1,070,552 shares in the company, valued at approximately $13,521,071.76. The trade was a 1.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 24,285 shares of company stock worth $309,184. Insiders own 2.80% of the company's stock.

Ranger Energy Services Profile

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.