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

A number of other hedge funds also recently bought and sold shares of RNGR. US Bancorp DE bought a new position in Ranger Energy Services during the 1st quarter valued at about $25,000. Pinnacle Holdings LLC purchased a new stake in Ranger Energy Services in the 1st quarter worth approximately $29,000. CWM LLC increased its holdings in Ranger Energy Services by 28.3% in the 1st quarter. CWM LLC now owns 5,850 shares of the company's stock worth $83,000 after acquiring an additional 1,289 shares in the last quarter. Deutsche Bank AG purchased a new stake in Ranger Energy Services in the 4th quarter worth approximately $92,000. Finally, GAMMA Investing LLC boosted its stake in Ranger Energy Services by 1,523.0% in the 1st quarter. GAMMA Investing LLC now owns 7,563 shares of the company's stock worth $107,000 after purchasing an additional 7,097 shares during the period. Institutional investors own 68.10% of the company's stock.

Wall Street Analyst Weigh In

RNGR has been the subject of a number of recent research reports. Wall Street Zen raised shares of Ranger Energy Services from a "buy" rating to a "strong-buy" rating in a 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 initiated coverage on shares of Ranger Energy Services in a report on Monday, July 14th. They issued a "neutral" rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Ranger Energy Services currently has an average rating of "Buy" and a consensus target price of $13.00.

Ranger Energy Services Trading Up 4.2%

Shares of Ranger Energy Services stock traded up $0.59 during trading on Tuesday, hitting $14.37. 81,419 shares of the stock traded hands, compared to its average volume of 158,995. The firm has a market cap of $313.73 million, a P/E ratio of 14.51 and a beta of 0.45. Ranger Energy Services, Inc. has a 52-week low of $10.56 and a 52-week high of $18.45. The stock's fifty day simple moving average is $13.20 and its 200 day simple moving average is $12.71.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.32 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 analyst estimates of $141.70 million. Ranger Energy Services had a return on equity of 8.36% and a net margin of 3.92%.

Ranger Energy Services Announces Dividend

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

Insider Buying and Selling

In other Ranger Energy Services news, Director Brett T. Agee sold 36,374 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $14.49, for a total value of $527,059.26. Following the completion of the transaction, the director directly owned 1,001,805 shares in the company, valued at approximately $14,516,154.45. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 81,688 shares of company stock valued at $1,140,042 in the last ninety days. 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.