Ranger Energy Services (NYSE:RNGR) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Ranger Energy Services (NYSE:RNGR) has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen as of Sunday.
• Piper Sandler initiated coverage with a "neutral" rating and a $13.00 price objective for the company on July 14th.
• The company reported quarterly earnings of $0.32 per share, surpassing estimates, but had slightly lower revenue than anticipated at $140.60 million.

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

Separately, Piper Sandler assumed coverage on 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.

Ranger Energy Services Price Performance

NYSE RNGR opened at $12.59 on Friday. Ranger Energy Services has a 1-year low of $10.56 and a 1-year high of $18.45. The company has a market capitalization of $274.97 million, a P/E ratio of 12.72 and a beta of 0.43. The business has a 50 day moving average price of $12.49 and a 200 day moving average price of $13.29.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.08. Ranger Energy Services had a return on equity of 8.36% and a net margin of 3.92%. The firm had revenue of $140.60 million during the quarter, compared to the consensus estimate of $141.70 million.

Hedge Funds Weigh In On Ranger Energy Services

Hedge funds have recently bought and sold shares of the stock. US Bancorp DE purchased a new position in Ranger Energy Services during the first quarter worth $25,000. Pinnacle Holdings LLC purchased a new position in Ranger Energy Services during the first quarter worth $29,000. Quarry LP purchased a new position in Ranger Energy Services during the fourth quarter worth $65,000. Quantbot Technologies LP increased 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. Finally, CWM LLC increased its position in Ranger Energy Services by 28.3% during the first quarter. CWM LLC now owns 5,850 shares of the company's stock worth $83,000 after buying an additional 1,289 shares in the last quarter. Hedge funds and other institutional investors own 68.10% of the company's stock.

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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