Goldman Sachs Group Inc. Sells 29,446 Shares of Ranger Energy Services, Inc. $RNGR

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Ranger Energy Services by 24.3%, now owning approximately 91,778 shares worth $1.3 million.
• Director Brett T. Agee sold 36,374 shares for over $527,000, further decreasing his ownership by 3.50%.
• Ranger Energy Services' stock is currently valued at $13.83, down 3.8%, with a market cap of $302.05 million and a recent dividend yield of 1.7%.

Goldman Sachs Group Inc. trimmed its position in Ranger Energy Services, Inc. (NYSE:RNGR - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,778 shares of the company's stock after selling 29,446 shares during the period. Goldman Sachs Group Inc. owned 0.41% of Ranger Energy Services worth $1,302,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. CWM LLC boosted 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 valued at $83,000 after buying an additional 1,289 shares during the period. US Bancorp DE bought a new stake in shares of Ranger Energy Services during the 1st quarter valued at about $25,000. Rhumbline Advisers boosted its position in shares of Ranger Energy Services by 8.5% during the 1st quarter. Rhumbline Advisers now owns 24,277 shares of the company's stock valued at $344,000 after acquiring an additional 1,906 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Ranger Energy Services by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 43,682 shares of the company's stock valued at $620,000 after acquiring an additional 2,001 shares during the last quarter. Finally, Pinnacle Holdings LLC bought a new stake in shares of Ranger Energy Services during the 1st quarter valued at about $29,000. Institutional investors own 68.10% of the company's stock.

Ranger Energy Services Price Performance

Ranger Energy Services stock traded up $0.09 during mid-day trading on Monday, hitting $13.81. The company's stock had a trading volume of 185,290 shares, compared to its average volume of 159,445. The stock has a market cap of $301.61 million, a price-to-earnings ratio of 13.95 and a beta of 0.45. The business has a 50 day moving average price of $13.17 and a 200-day moving average price of $12.72. Ranger Energy Services, Inc. has a 12 month low of $10.56 and a 12 month high of $18.45.

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

Ranger Energy Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders 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 dividend on an annualized basis and a yield of 1.7%. Ranger Energy Services's dividend payout ratio is presently 24.24%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RNGR. Wall Street Zen upgraded shares of Ranger Energy Services from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Zacks Research raised shares of Ranger Energy Services from a "hold" rating to a "strong-buy" rating in a report on Friday, September 12th. Finally, Piper Sandler began coverage on shares of Ranger Energy Services in a report on Monday, July 14th. They set a "neutral" rating and a $13.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $13.00.

Insider Buying and Selling

In related news, Director Brett T. Agee sold 36,374 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $14.49, for a total transaction of $527,059.26. Following the completion of the transaction, the director owned 1,001,805 shares in the company, valued at $14,516,154.45. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 81,688 shares of company stock worth $1,140,042. Corporate insiders own 2.80% of the company's stock.

Ranger Energy Services Company 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.