Ranger Energy Services (NYSE:RNGR) Stock Price Down 1.6% - Here's What Happened

Key Points

• Ranger Energy Services shares fell 1.6% to about $15.00 in Friday trading, with volume modestly above average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is largely neutral: one analyst rates the stock a Buy and two rate it Hold, producing a consensus Hold rating and a $20.00 target price. The company narrowly missed quarterly EPS expectations but exceeded revenue estimates.
• CEO Stuart Bodden and VP J. Hooker recently sold shares under pre-arranged Rule 10b5-1 plans, while institutional investors own 68.1% of the company’s stock.

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) shares traded down 1.6% during mid-day trading on Friday. The company traded as low as $14.76 and last traded at $15.00. Approximately 159,580 shares traded hands during trading, an increase of 8% from the average session volume of 147,291 shares. The stock had previously closed at $15.24.

Analyst Upgrades and Downgrades

RNGR has been the subject of several recent research reports. Zacks Research raised Ranger Energy Services from a "strong sell" rating to a "hold" rating in a research report on Friday, July 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Ranger Energy Services in a research note on Monday, September 21st. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.00.

Ranger Energy Services Stock Down 1.6%

The business has a 50-day simple moving average of $15.78 and a 200-day simple moving average of $16.21. The company has a market cap of $351 million, a PE ratio of 25.00 and a beta of 0.27.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). Ranger Energy Services had a return on equity of 4.87% and a net margin of 2.36%. The firm had revenue of $176.50 million for the quarter, compared to analysts' expectations of $163.93 million. On average, research analysts forecast that Ranger Energy Services, Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Stuart Bodden sold 95,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $17.16, for a total transaction of $1,630,200.00. Following the completion of the sale, the chief executive officer owned 273,800 shares in the company, valued at approximately $4,698,408. The trade was a 25.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP J. Hooker sold 11,620 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.63, for a total value of $193,240.60. Following the completion of the sale, the vice president directly owned 87,528 shares of the company's stock, valued at approximately $1,455,590.64. This trade represents a 11.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ranger Energy Services

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Ranger Energy Services by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,273,108 shares of the company's stock worth $21,822,000 after buying an additional 41,648 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Ranger Energy Services by 15.8% during the first quarter. Renaissance Technologies LLC now owns 306,790 shares of the company's stock valued at $5,258,000 after acquiring an additional 41,800 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Ranger Energy Services by 10.8% during the 1st quarter. Bank of America Corp DE now owns 290,643 shares of the company's stock worth $4,982,000 after purchasing an additional 28,424 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Ranger Energy Services in the 2nd quarter worth approximately $4,164,000. Finally, Empowered Funds LLC grew its position in shares of Ranger Energy Services by 2.4% in the first quarter. Empowered Funds LLC now owns 169,691 shares of the company's stock valued at $2,909,000 after purchasing an additional 3,934 shares during the period. Hedge funds and other institutional investors own 68.10% of the company's stock.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc is an oilfield services company that supports the development, maintenance and production of oil and natural gas wells. The company primarily serves the onshore U.S. energy market, providing services throughout the life cycle of mature and producing wells.

Its operations include well servicing, workover and completion services, wireline and electric-line services, and equipment rental. Ranger's well-servicing business uses a fleet of rigs to perform activities such as well maintenance, recompletions, remedial work and plugging and abandonment.

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