Bank of New York Mellon Corp Takes Position in Ranger Energy Services, Inc. $RNGR

Key Points

• Bank of New York Mellon acquired 260,115 Ranger Energy Services shares valued at approximately $4.16 million, giving it a 1.09% stake. Institutional investors collectively own 68.1% of the company.
• Ranger’s CEO and a vice president sold a combined 106,620 shares under pre-arranged Rule 10b5-1 trading plans; insiders have sold 107,911 shares worth $1.84 million over the past 90 days.
• Analysts maintain a consensus “Hold” rating with an average $20 price target. The stock recently traded near $16.79, while the company reported quarterly revenue above estimates but EPS slightly below expectations and continues to pay a $0.06 quarterly dividend.

Bank of New York Mellon Corp acquired a new position in Ranger Energy Services, Inc. (NYSE:RNGR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 260,115 shares of the company's stock, valued at approximately $4,164,000. Bank of New York Mellon Corp owned approximately 1.09% of Ranger Energy Services at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UBS Group AG boosted its stake in Ranger Energy Services by 106.4% in the 4th quarter. UBS Group AG now owns 179,044 shares of the company's stock worth $2,503,000 after purchasing an additional 92,299 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Ranger Energy Services by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,273,108 shares of the company's stock worth $21,822,000 after purchasing an additional 41,648 shares during the last quarter. Simcoe Capital LLC acquired a new position in Ranger Energy Services during the 4th quarter valued at approximately $2,801,000. LSV Asset Management increased its stake in Ranger Energy Services by 952.8% during the 4th quarter. LSV Asset Management now owns 37,900 shares of the company's stock valued at $530,000 after purchasing an additional 34,300 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Ranger Energy Services by 15.8% in the first quarter. Renaissance Technologies LLC now owns 306,790 shares of the company's stock worth $5,258,000 after buying an additional 41,800 shares during the last quarter. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Ranger Energy Services news, VP J. Hooker sold 11,620 shares of Ranger Energy Services stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.63, for a total transaction of $193,240.60. Following the completion of the transaction, the vice president owned 87,528 shares in the company, valued at approximately $1,455,590.64. This trade represents a 11.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stuart Bodden sold 95,000 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $17.16, for a total value of $1,630,200.00. Following the completion of the transaction, the chief executive officer directly owned 273,800 shares of the company's stock, valued at approximately $4,698,408. This trade represents a 25.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 107,911 shares of company stock worth $1,844,742 over the last ninety days. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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. Weiss Ratings reissued a "hold (c)" rating on shares of Ranger Energy Services in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Ranger Energy Services presently has a consensus rating of "Hold" and an average price target of $20.00.

Ranger Energy Services Trading Down 0.8%

Shares of NYSE RNGR opened at $16.79 on Friday. Ranger Energy Services, Inc. has a 12 month low of $11.88 and a 12 month high of $18.82. The company has a 50 day simple moving average of $16.23 and a two-hundred day simple moving average of $16.47. The stock has a market cap of $392.89 million, a price-to-earnings ratio of 27.98 and a beta of 0.14.

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

Ranger Energy Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 7th. Ranger Energy Services's dividend payout ratio (DPR) is currently 40.00%.

Ranger Energy Services Profile

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.

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