34,500 Shares in Ranger Energy Services, Inc. $RNGR Bought by Strs Ohio

Key Points

• Strs Ohio made a new investment in Ranger Energy Services, acquiring 34,500 shares valued at approximately $490,000, bringing its total ownership to 0.15% of the company.
• Ranger Energy Services reported earnings of $0.32 per share for the last quarter, surpassing analysts' expectations of $0.24, while revenues slightly missed estimates at $140.60 million.
• Several institutional investors increased their stakes in Ranger Energy Services, with Acadian Asset Management owning 291,632 shares worth $4.13 million after a significant purchase in the first quarter.

Strs Ohio purchased a new position in shares of Ranger Energy Services, Inc. (NYSE:RNGR - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 34,500 shares of the company's stock, valued at approximately $490,000. Strs Ohio owned 0.15% of Ranger Energy Services at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RNGR. Jacobs Levy Equity Management Inc. bought a new position in shares of Ranger Energy Services during the 1st quarter worth about $2,143,000. Nuveen LLC acquired a new stake in shares of Ranger Energy Services in the 1st quarter worth about $1,776,000. American Century Companies Inc. increased its stake in Ranger Energy Services by 18.0% in the 1st quarter. American Century Companies Inc. now owns 482,372 shares of the company's stock valued at $6,845,000 after buying an additional 73,445 shares during the last quarter. Man Group plc purchased a new stake in Ranger Energy Services in the 4th quarter valued at about $887,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Ranger Energy Services in the 4th quarter valued at about $687,000. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on RNGR. Wall Street Zen upgraded shares of Ranger Energy Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Zacks Research upgraded shares of Ranger Energy Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 12th. Finally, Piper Sandler assumed coverage on shares of Ranger Energy Services in a research note on Monday, July 14th. They set a "neutral" rating and a $13.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $13.00.

Insider Activity

In other news, Director Brett T. Agee sold 14,014 shares of Ranger Energy Services stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $14.51, for a total transaction of $203,343.14. Following the completion of the sale, the director directly owned 987,791 shares of the company's stock, valued at approximately $14,332,847.41. The trade was a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 81,688 shares of company stock worth $1,140,042. Insiders own 2.80% of the company's stock.

Ranger Energy Services Price Performance

NYSE:RNGR traded up $0.09 during trading hours on Monday, hitting $13.81. The stock had a trading volume of 185,290 shares, compared to its average volume of 171,744. The company has a 50 day simple moving average of $13.20 and a two-hundred day simple moving average of $12.71. Ranger Energy Services, Inc. has a one year low of $10.56 and a one year high of $18.45. The firm has a market capitalization of $301.57 million, a price-to-earnings ratio of 13.58 and a beta of 0.45.

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. Ranger Energy Services had a net margin of 3.92% and a return on equity of 8.36%. The firm had revenue of $140.60 million during the quarter, compared to the consensus estimate of $141.70 million.

Ranger Energy Services Announces Dividend

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

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.