Ranger Energy Services, Inc. (NYSE:RNGR) Short Interest Up 232.8% in May

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 430,700 shares, an increase of 232.8% from the May 15th total of 129,400 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 150,000 shares, the days-to-cover ratio is currently 2.9 days.

Insider Buying and Selling

In related news, Director Brett T. Agee sold 13,343 shares of Ranger Energy Services stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $14.52, for a total transaction of $193,740.36. Following the completion of the transaction, the director now directly owns 1,782,232 shares of the company's stock, valued at approximately $25,878,008.64. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ranger Energy Services

Several hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in shares of Ranger Energy Services in the fourth quarter valued at $26,000. US Bancorp DE purchased a new stake in shares of Ranger Energy Services in the first quarter valued at $25,000. Pinnacle Holdings LLC purchased a new stake in shares of Ranger Energy Services in the first quarter valued at $29,000. Quarry LP purchased a new stake in shares of Ranger Energy Services in the fourth quarter valued at $65,000. Finally, CWM LLC grew its position in shares of Ranger Energy Services by 28.3% in the first quarter. CWM LLC now owns 5,850 shares of the company's stock valued at $83,000 after purchasing an additional 1,289 shares during the period. Hedge funds and other institutional investors own 68.10% of the company's stock.

Ranger Energy Services Price Performance

Ranger Energy Services stock traded up $0.12 during mid-day trading on Friday, hitting $12.86. 289,591 shares of the company were exchanged, compared to its average volume of 118,827. The business's 50 day simple moving average is $11.81 and its two-hundred day simple moving average is $14.43. The company has a market capitalization of $289.32 million, a P/E ratio of 19.49 and a beta of 0.34. Ranger Energy Services has a 12-month low of $9.68 and a 12-month high of $18.45.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.10). The company had revenue of $135.20 million for the quarter, compared to analysts' expectations of $137.50 million. Ranger Energy Services had a return on equity of 5.54% and a net margin of 2.54%.

Ranger Energy Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, May 9th. Ranger Energy Services's payout ratio is 27.27%.

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.