Ranger Energy Services (NYSE:RNGR) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Ranger Energy Services (RNGR) from a "strong-buy" to a "strong sell" in a research note issued Wednesday.
• Ranger missed Q1 EPS at $0.12 vs. $0.36 expected despite slightly beating revenue ($159.1M vs. $156.2M), and reported modest profitability with a 2.58% net margin and 5.12% ROE.
• Analyst views are mixed—Piper Sandler raised its price target to $20 and upgraded to overweight while others range from hold to buy, leaving a consensus rating of "Hold" and a consensus price target of $20 versus the stock trading around $15.87.

Ranger Energy Services (NYSE:RNGR - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "strong sell" rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Weiss Ratings restated a "hold (c)" rating on shares of Ranger Energy Services in a research note on Friday, March 27th. Wall Street Zen upgraded Ranger Energy Services from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Finally, Piper Sandler upped their price objective on Ranger Energy Services from $17.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.00.

Ranger Energy Services Price Performance

Shares of RNGR opened at $15.87 on Wednesday. The company has a market cap of $373.71 million, a P/E ratio of 25.19 and a beta of 0.15. The stock has a fifty day moving average price of $17.11 and a 200 day moving average price of $15.40. Ranger Energy Services has a 12 month low of $10.56 and a 12 month high of $18.82.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.24). The company had revenue of $159.10 million for the quarter, compared to the consensus estimate of $156.20 million. Ranger Energy Services had a return on equity of 5.12% and a net margin of 2.58%. As a group, research analysts anticipate that Ranger Energy Services will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Ranger Energy Services by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,273,108 shares of the company's stock worth $21,822,000 after acquiring an additional 41,648 shares during the period. Copeland Capital Management LLC boosted its position in Ranger Energy Services by 43.3% during the 1st quarter. Copeland Capital Management LLC now owns 5,766 shares of the company's stock worth $99,000 after acquiring an additional 1,741 shares during the period. Janney Montgomery Scott LLC boosted its position in Ranger Energy Services by 2.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 48,909 shares of the company's stock worth $838,000 after acquiring an additional 1,177 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Ranger Energy Services by 135.3% in the fourth quarter. Hsbc Holdings PLC now owns 33,408 shares of the company's stock valued at $468,000 after buying an additional 19,209 shares during the period. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of Ranger Energy Services by 39.9% in the fourth quarter. State of Tennessee Department of Treasury now owns 34,039 shares of the company's stock valued at $525,000 after buying an additional 9,705 shares during the period. Institutional investors and hedge funds own 68.10% of the company's stock.

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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