Ranger Energy Services (NYSE:RNGR) Rating Lowered to "Buy" at 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.

Wall Street Zen lowered shares of Ranger Energy Services (NYSE:RNGR - Free Report) from a strong-buy rating to a buy rating in a report released on Sunday morning.

Separately, Piper Sandler initiated coverage on Ranger Energy Services in a research report on Monday, July 14th. They set a "neutral" rating and a $13.00 price target for the company. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ranger Energy Services presently has an average rating of "Hold" and an average price target of $13.00.

Ranger Energy Services Stock Up 1.7%

Shares of NYSE:RNGR traded up $0.22 during trading on Friday, hitting $13.02. The stock had a trading volume of 131,329 shares, compared to its average volume of 153,809. Ranger Energy Services has a 12-month low of $10.56 and a 12-month high of $18.45. The stock has a market capitalization of $284.36 million, a price-to-earnings ratio of 13.15 and a beta of 0.43. The stock has a 50-day simple moving average of $12.50 and a two-hundred day simple moving average of $13.21.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $140.60 million during the quarter, compared to analysts' expectations of $141.70 million. Ranger Energy Services had a return on equity of 8.36% and a net margin of 3.92%.

Ranger Energy Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 8th. Ranger Energy Services's dividend payout ratio (DPR) is presently 24.24%.

Insider Buying and Selling

In other Ranger Energy Services news, Director Brett T. Agee sold 3,138 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $12.81, for a total value of $40,197.78. Following the sale, the director directly owned 1,047,414 shares of the company's stock, valued at approximately $13,417,373.34. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 24,285 shares of company stock valued at $309,184 over the last quarter. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Ranger Energy Services

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of Ranger Energy Services in the fourth quarter worth approximately $477,000. Two Sigma Investments LP boosted its stake in shares of Ranger Energy Services by 60.2% in the fourth quarter. Two Sigma Investments LP now owns 77,056 shares of the company's stock worth $1,193,000 after acquiring an additional 28,965 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Ranger Energy Services in the fourth quarter worth approximately $429,000. BNP Paribas Financial Markets boosted its stake in shares of Ranger Energy Services by 916.2% in the fourth quarter. BNP Paribas Financial Markets now owns 36,348 shares of the company's stock worth $563,000 after acquiring an additional 32,771 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Ranger Energy Services in the fourth quarter worth approximately $92,000. 68.10% of the stock is owned by institutional investors and hedge funds.

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.