Jacobs Levy Equity Management Inc. Buys Shares of 150,996 Ranger Energy Services, Inc. $RNGR

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new stake in Ranger Energy Services, purchasing 150,996 shares valued at approximately $2,143,000, which represents about 0.68% of the company.
• Ranger Energy Services announced a quarterly dividend of $0.06 per share, resulting in an annualized dividend yield of 1.7%.
• The company's recent earnings report showed an EPS of $0.32, surpassing the consensus estimate of $0.24, while generating $140.60 million in revenue for the quarter.

Jacobs Levy Equity Management Inc. purchased a new stake in Ranger Energy Services, Inc. (NYSE:RNGR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 150,996 shares of the company's stock, valued at approximately $2,143,000. Jacobs Levy Equity Management Inc. owned approximately 0.68% of Ranger Energy Services at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. US Bancorp DE acquired a new stake in shares of Ranger Energy Services during the first quarter valued at about $25,000. Pinnacle Holdings LLC acquired a new position in Ranger Energy Services in the first quarter worth about $29,000. CWM LLC grew its stake in Ranger Energy Services by 28.3% in the first quarter. CWM LLC now owns 5,850 shares of the company's stock worth $83,000 after purchasing an additional 1,289 shares in the last quarter. Deutsche Bank AG acquired a new position in Ranger Energy Services in the fourth quarter worth about $92,000. Finally, GAMMA Investing LLC grew its stake in Ranger Energy Services by 1,523.0% in the first quarter. GAMMA Investing LLC now owns 7,563 shares of the company's stock worth $107,000 after purchasing an additional 7,097 shares in the last quarter. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Ranger Energy Services Trading Up 1.3%

NYSE:RNGR traded up $0.19 during midday trading on Tuesday, hitting $14.43. 230,224 shares of the stock were exchanged, compared to its average volume of 136,277. The company has a market capitalization of $315.15 million, a price-to-earnings ratio of 14.58 and a beta of 0.45. Ranger Energy Services, Inc. has a one year low of $10.56 and a one year high of $18.45. The business has a 50-day moving average price of $13.06 and a two-hundred day moving average price of $12.76.

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 company had revenue of $140.60 million for the quarter, compared to analysts' expectations 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 business also recently declared 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 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 dividend payout ratio is currently 24.24%.

Insider Activity

In other Ranger Energy Services news, Director Brett T. Agee sold 36,374 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $14.49, for a total transaction of $527,059.26. Following the sale, the director directly owned 1,001,805 shares of the company's stock, valued at $14,516,154.45. The trade was a 3.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 67,674 shares of company stock valued at $936,698 over the last quarter. 2.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on RNGR. Piper Sandler began 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 on the stock. Zacks Research raised shares of Ranger Energy Services from a "hold" rating to a "strong-buy" rating in a report on Friday. Finally, Wall Street Zen raised shares of Ranger Energy Services from a "buy" rating to a "strong-buy" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Ranger Energy Services currently has an average rating of "Buy" and an average target price of $13.00.

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.