Insider Selling: Ranger Energy Services (NYSE:RNGR) Director Sells 11,147 Shares of Stock

Key Points

• Director Brett T. Agee of Ranger Energy Services sold 11,147 shares for approximately $140,786.61, decreasing his ownership by 1.03% to 1,070,552 shares.
• The company recently reported earnings of $0.32 per share, exceeding analysts' estimates of $0.24, although revenue fell short of expectations at $140.60 million.
• Ranger Energy Services announced a quarterly dividend of $0.06 per share, with an annualized yield of 1.9%, set to be paid on August 22nd for investors of record on August 8th.

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) Director Brett T. Agee sold 11,147 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $12.63, for a total transaction of $140,786.61. Following the completion of the transaction, the director directly owned 1,070,552 shares in the company, valued at approximately $13,521,071.76. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Ranger Energy Services Stock Performance

Shares of NYSE:RNGR traded up $0.4740 during midday trading on Friday, hitting $13.5540. The company's stock had a trading volume of 301,341 shares, compared to its average volume of 152,934. The business's 50 day simple moving average is $12.52 and its 200 day simple moving average is $13.16. The company has a market cap of $296.02 million, a P/E ratio of 13.69 and a beta of 0.43. Ranger Energy Services, Inc. has a 12-month low of $10.56 and a 12-month high of $18.45.

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 for the quarter, topping the consensus estimate of $0.24 by $0.08. The firm had revenue of $140.60 million for the quarter, compared to the consensus estimate of $141.70 million. Ranger Energy Services had a net margin of 3.92% and a return on equity of 8.36%.

Ranger Energy Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid 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 yield of 1.8%. Ranger Energy Services's payout ratio is 24.24%.

Institutional Investors Weigh In On Ranger Energy Services

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC acquired a new stake in shares of Ranger Energy Services during the fourth quarter valued at about $477,000. Two Sigma Investments LP increased its position in shares of Ranger Energy Services by 60.2% during the fourth quarter. Two Sigma Investments LP now owns 77,056 shares of the company's stock valued at $1,193,000 after acquiring an additional 28,965 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Ranger Energy Services during the fourth quarter valued at about $429,000. BNP Paribas Financial Markets increased its stake in Ranger Energy Services by 916.2% during the 4th quarter. BNP Paribas Financial Markets now owns 36,348 shares of the company's stock worth $563,000 after buying an additional 32,771 shares during the period. Finally, Deutsche Bank AG purchased a new stake in Ranger Energy Services during the 4th quarter worth approximately $92,000. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RNGR shares. Wall Street Zen downgraded shares of Ranger Energy Services from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Piper Sandler started coverage on shares of Ranger Energy Services in a research note on Monday, July 14th. They set a "neutral" rating and a $13.00 target price on the stock. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.