Ranger Energy Services, Inc. $RNGR Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Ranger Energy Services stake by 36.7% in the first quarter, selling 75,644 shares and retaining 130,251 shares valued at approximately $2.23 million. Institutional investors collectively own 68.1% of the company.
• Ranger Energy Services reported quarterly earnings of $0.29 per share, narrowly missing estimates of $0.30, while revenue of $176.5 million exceeded forecasts. Shares opened at $15.99, down 1.3%, with a market capitalization of about $380 million.
• The company declared a quarterly dividend of $0.06 per share, equivalent to an annualized yield of 1.5%. Analysts maintain a consensus “Hold” rating with an average price target of $20.00.

Arrowstreet Capital Limited Partnership lowered its holdings in Ranger Energy Services, Inc. (NYSE:RNGR - Free Report) by 36.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 130,251 shares of the company's stock after selling 75,644 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.55% of Ranger Energy Services worth $2,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quantbot Technologies LP grew its position in Ranger Energy Services by 51.7% during the 2nd quarter. Quantbot Technologies LP now owns 6,277 shares of the company's stock worth $75,000 after purchasing an additional 2,140 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Ranger Energy Services by 97.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,602 shares of the company's stock valued at $79,000 after acquiring an additional 2,758 shares during the period. Copeland Capital Management LLC boosted its position in Ranger Energy Services by 43.3% during the first quarter. Copeland Capital Management LLC now owns 5,766 shares of the company's stock worth $99,000 after purchasing an additional 1,741 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Ranger Energy Services by 46.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company's stock worth $112,000 after buying an additional 2,525 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Ranger Energy Services in the second quarter valued at about $125,000. Institutional investors and hedge funds own 68.10% of the company's stock.

Ranger Energy Services Stock Down 1.3%

Shares of Ranger Energy Services stock opened at $15.99 on Wednesday. Ranger Energy Services, Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $18.82. The firm has a market cap of $380.04 million, a price-to-earnings ratio of 26.66 and a beta of 0.12. The business has a fifty day simple moving average of $15.69 and a 200-day simple moving average of $16.30.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $176.50 million during the quarter, compared to analyst estimates of $163.93 million. Ranger Energy Services had a net margin of 2.36% and a return on equity of 4.87%. Analysts anticipate that Ranger Energy Services, Inc. will post 1.17 earnings per share for the current fiscal year.

Ranger Energy Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.06 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.5%. Ranger Energy Services's dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RNGR. Wall Street Zen raised shares of Ranger Energy Services from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Piper Sandler upped their target price on shares of Ranger Energy Services from $17.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Weiss Ratings restated a "hold (c)" rating on shares of Ranger Energy Services in a report on Wednesday, June 24th. Finally, 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. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.00.

About Ranger Energy Services

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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