Ranger Energy Services (NYSE:RNGR) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research has downgraded Ranger Energy Services from a "strong-buy" rating to a "hold" rating, affecting investor sentiment.
• The company's shares opened at $12.67 with a consensus price target remaining at $13.00, while the stock has a 12-month range between $10.56 and $18.45.
• Recent insider trading activity shows a director selling 14,014 shares for over $203,000, representing a decrease in their ownership stake.

Ranger Energy Services (NYSE:RNGR - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on RNGR. Wall Street Zen downgraded Ranger Energy Services from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Piper Sandler started coverage on Ranger Energy Services in a research note on Monday, July 14th. They issued a "neutral" rating and a $13.00 price target on the stock. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Ranger Energy Services in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.00.

Ranger Energy Services Trading Up 1.9%

Shares of RNGR opened at $12.67 on Monday. The business's fifty day simple moving average is $13.55 and its two-hundred day simple moving average is $12.63. Ranger Energy Services has a 12 month low of $10.56 and a 12 month high of $18.45. The company has a market cap of $276.69 million, a price-to-earnings ratio of 12.80 and a beta of 0.43.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.32 EPS 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 business had revenue of $140.60 million for the quarter, compared to the consensus estimate of $141.70 million.

Insider Buying and Selling

In other Ranger Energy Services news, Director Brett T. Agee sold 14,014 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $14.51, for a total transaction of $203,343.14. Following the sale, the director directly owned 987,791 shares of the company's stock, valued at $14,332,847.41. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 81,688 shares of company stock worth $1,140,042 over the last quarter. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ranger Energy Services

A number of institutional investors and hedge funds have recently bought and sold shares of RNGR. US Bancorp DE bought a new stake in Ranger Energy Services during the first quarter valued at about $25,000. Pinnacle Holdings LLC bought a new stake in shares of Ranger Energy Services in the first quarter worth about $29,000. Quantbot Technologies LP increased its holdings in shares of Ranger Energy Services by 51.7% in the second quarter. Quantbot Technologies LP now owns 6,277 shares of the company's stock worth $75,000 after purchasing an additional 2,140 shares during the last quarter. CWM LLC increased its holdings in shares of Ranger Energy Services by 28.3% in the first quarter. CWM LLC now owns 5,850 shares of the company's stock worth $83,000 after purchasing an additional 1,289 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Ranger Energy Services by 1,523.0% in the first quarter. GAMMA Investing LLC now owns 7,563 shares of the company's stock worth $107,000 after purchasing an additional 7,097 shares during the last quarter. 68.10% of the stock is owned by institutional investors.

Ranger Energy Services Company Profile

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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