Ranger Energy Services (NYSE:RNGR) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Ranger Energy Services (RNGR) from a "buy" to a "hold," leaving the stock with an overall average rating of Hold and an average price target of $13.00.
• The company missed EPS in its latest quarter, reporting $0.14 vs. the $0.20 consensus (a $0.06 miss) while posting revenue of $142.2 million, modestly above estimates; net margin was 2.25% and return on equity 4.54%.
• RNGR shares opened at $16.78, trade near their 50-day/200-day SMAs of $16.73 and $14.83, respectively, and the company has a market cap of approximately $362.6 million with a P/E of 31.07.

Ranger Energy Services (NYSE:RNGR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Other equities analysts have also issued reports about the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Ranger Energy Services in a research note on Friday, March 27th. Piper Sandler upgraded Ranger Energy Services from a "neutral" rating to an "overweight" rating in a research note on Thursday, December 18th. Finally, Zacks Research raised Ranger Energy Services from a "strong sell" rating to a "hold" rating in a report on Monday, January 19th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $13.00.

Ranger Energy Services Trading Down 0.4%

NYSE RNGR opened at $16.78 on Friday. The company has a fifty day simple moving average of $16.73 and a 200 day simple moving average of $14.83. The company has a market cap of $362.62 million, a P/E ratio of 31.07 and a beta of 0.17. Ranger Energy Services has a 1 year low of $10.56 and a 1 year high of $17.98.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $142.20 million during the quarter, compared to the consensus estimate of $140.67 million. Ranger Energy Services had a return on equity of 4.54% and a net margin of 2.25%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Quantbot Technologies LP grew its position in 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 raised its holdings in 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 acquiring an additional 2,758 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Ranger Energy Services by 46.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company's stock valued at $112,000 after acquiring an additional 2,525 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Ranger Energy Services in the 2nd quarter valued at approximately $125,000. Finally, Osaic Holdings Inc. raised its holdings in Ranger Energy Services by 134.1% in the 2nd quarter. Osaic Holdings Inc. now owns 10,626 shares of the company's stock valued at $127,000 after acquiring an additional 6,087 shares in the last quarter. 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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