Ranger Energy Services, Inc. (NYSE:RNGR) to Issue Quarterly Dividend of $0.06

Key Points

• Ranger Energy Services, Inc. (NYSE:RNGR) announced a quarterly dividend of $0.06 per share, set to be paid on August 22nd, reflecting a 1.85% yield and an annualized dividend of $0.24.
• The company reported a Q2 earnings per share (EPS) of $0.32, surpassing the consensus estimate by $0.08, and has a dividend payout ratio of 23.1%.
• Institutional investors own approximately 68.10% of Ranger Energy Services' stock, with notable increases in holdings from firms like AQR Capital Management and Jane Street Group.

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) announced a quarterly dividend on Monday, July 28th, RTT News reports. Investors of record on Friday, August 8th will be given a dividend of 0.06 per share on Friday, August 22nd. This represents a $0.24 annualized dividend and a yield of 1.85%.

Ranger Energy Services has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings.

Ranger Energy Services Price Performance

Shares of RNGR traded up $0.63 during midday trading on Monday, hitting $12.98. The stock had a trading volume of 158,069 shares, compared to its average volume of 155,971. The stock's 50 day moving average is $11.92 and its 200 day moving average is $13.70. The firm has a market cap of $292.02 million, a PE ratio of 14.75 and a beta of 0.38. Ranger Energy Services has a 1 year low of $10.56 and a 1 year high of $18.45.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last issued 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 3.48% and a return on equity of 7.52%.

Institutional Investors Weigh In On Ranger Energy Services

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of Ranger Energy Services by 11.9% during the first quarter. AQR Capital Management LLC now owns 244,598 shares of the company's stock worth $3,471,000 after acquiring an additional 25,923 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Ranger Energy Services by 5.5% in the first quarter. Empowered Funds LLC now owns 137,775 shares of the company's stock worth $1,955,000 after buying an additional 7,150 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Ranger Energy Services by 71.5% during the first quarter. Jane Street Group LLC now owns 19,000 shares of the company's stock worth $270,000 after buying an additional 7,924 shares during the period. Institutional investors own 68.10% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler initiated coverage on shares of Ranger Energy Services in a research note on Monday, July 14th. They issued a "neutral" rating and a $13.00 price objective for the company.

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.

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