Insider Selling: Ranger Energy Services (NYSE:RNGR) Director Sells 36,374 Shares of Stock

Key Points

• Ranger Energy Services Director Brett Agee sold 36,374 shares at an average price of $14.49, totaling approximately $527,000, and decreased his ownership by 3.50%.
• The company's stock increased by 1.3% to $14.43 on the same day, with a market cap of $315.15 million and an average trading volume of 230,224 shares.
• Ranger Energy Services declared a quarterly dividend of $0.06 per share, representing an annualized yield of 1.7% with a payout ratio of 24.24%.

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) Director Brett T. Agee sold 36,374 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 1,001,805 shares of the company's stock, valued at $14,516,154.45. This trade represents a 3.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ranger Energy Services Trading Down 3.8%

NYSE:RNGR traded down $0.54 during trading hours on Friday, hitting $13.83. The stock had a trading volume of 533,629 shares, compared to its average volume of 160,155. Ranger Energy Services, Inc. has a 1-year low of $10.56 and a 1-year high of $18.45. The business has a 50 day simple moving average of $13.17 and a two-hundred day simple moving average of $12.73. The company has a market cap of $302.05 million, a PE ratio of 13.97 and a beta of 0.45.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last issued its quarterly earnings data 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. Ranger Energy Services had a net margin of 3.92% and a return on equity of 8.36%. The company 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 declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders 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 dividend yield of 1.7%. Ranger Energy Services's dividend payout ratio (DPR) is presently 24.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Ranger Energy Services in a research report on Monday, July 14th. They set a "neutral" rating and a $13.00 price target for the company. Wall Street Zen raised shares of Ranger Energy Services from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, Zacks Research raised shares of Ranger Energy Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Ranger Energy Services has an average rating of "Buy" and a consensus target price of $13.00.

Hedge Funds Weigh In On Ranger Energy Services

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in Ranger Energy Services in the fourth quarter worth $477,000. Two Sigma Investments LP boosted its holdings in Ranger Energy Services by 60.2% in the fourth quarter. Two Sigma Investments LP now owns 77,056 shares of the company's stock worth $1,193,000 after purchasing an additional 28,965 shares during the period. Squarepoint Ops LLC acquired a new position in Ranger Energy Services in the fourth quarter worth $429,000. BNP Paribas Financial Markets boosted its holdings in Ranger Energy Services by 916.2% in the fourth quarter. BNP Paribas Financial Markets now owns 36,348 shares of the company's stock worth $563,000 after purchasing an additional 32,771 shares during the period. Finally, Deutsche Bank AG acquired a new position in Ranger Energy Services in the fourth quarter worth $92,000. Institutional investors and hedge funds own 68.10% of the company's stock.

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.