Ranger Energy Services (NYSE:RNGR) Announces Quarterly Earnings Results

Key Points

• Ranger Energy Services reported quarterly EPS of $0.12, falling $0.18 short of the $0.30 consensus estimate. Net margin was 2.58%, while return on equity was 5.12%.
• The stock declined 1.7% to $15.44 following the results, with shares trading below both their 50-day and 200-day moving averages. Ranger has a market capitalization of approximately $366.8 million.
• Institutional investors and hedge funds own 68.1% of the company, with several firms recently increasing their positions. Analysts maintain an overall “Hold” rating, though Piper Sandler raised its price target to $20 and assigned an “Overweight” rating.

Ranger Energy Services (NYSE:RNGR - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.18), Zacks reports. Ranger Energy Services had a net margin of 2.58% and a return on equity of 5.12%.

Ranger Energy Services Stock Down 1.7%

Ranger Energy Services stock traded down $0.27 during mid-day trading on Monday, reaching $15.44. 232,594 shares of the company's stock were exchanged, compared to its average volume of 211,587. The company has a fifty day moving average of $15.81 and a 200-day moving average of $16.24. The company has a market cap of $366.81 million, a P/E ratio of 24.51 and a beta of 0.12. Ranger Energy Services has a twelve month low of $11.88 and a twelve month high of $18.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RNGR. Quantbot Technologies LP grew its position in shares of Ranger Energy Services by 51.7% during the second quarter. Quantbot Technologies LP now owns 6,277 shares of the company's stock worth $75,000 after buying an additional 2,140 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Ranger Energy Services by 97.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,602 shares of the company's stock valued at $79,000 after purchasing an additional 2,758 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Ranger Energy Services by 46.0% during the third quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company's stock worth $112,000 after purchasing an additional 2,525 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Ranger Energy Services during the 2nd quarter worth about $125,000. Finally, Osaic Holdings Inc. lifted its stake in Ranger Energy Services by 134.1% during the second quarter. Osaic Holdings Inc. now owns 10,626 shares of the company's stock worth $127,000 after purchasing an additional 6,087 shares during the last quarter. 68.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen upgraded Ranger Energy Services from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Zacks Research raised Ranger Energy Services from a "strong sell" rating to a "hold" rating in a research note on Friday, July 3rd. Piper Sandler raised their price objective on Ranger Energy Services from $17.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Ranger Energy Services in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Ranger Energy Services has an average rating of "Hold" and an average target price of $20.00.

About Ranger Energy Services

Ranger Energy Services, Inc, based in The Woodlands, Texas, is a North American land drilling contractor serving exploration and production companies in the oil and natural gas industry. The company provides contract drilling, well servicing, pressure pumping and completion support services designed to enhance operational efficiency and optimize well performance.

Through its diversified fleet of drilling and service rigs and ancillary equipment, Ranger offers turnkey solutions across all phases of the drilling lifecycle—from pad construction and drilling to completion and workover operations.

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