Ranger Energy Services (NYSE:RNGR) Releases Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Ranger Energy Services reported earnings of $0.32 per share, exceeding analysts' expectations of $0.24 by $0.08.
• The company declared a quarterly dividend of $0.06, which equates to an annualized dividend of $0.24 and a yield of 1.85%.
• Institutional investors currently hold 68.10% of Ranger Energy Services' stock, with several hedge funds increasing their stakes recently.

Ranger Energy Services (NYSE:RNGR - Get Free Report) issued its earnings results on Monday. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.08, Zacks reports. Ranger Energy Services had a return on equity of 7.52% and a net margin of 3.48%.

Ranger Energy Services Trading Up 5.1%

Shares of NYSE:RNGR traded up $0.63 during midday trading on Monday, hitting $12.98. The company had a trading volume of 158,069 shares, compared to its average volume of 155,971. The stock has a market cap of $292.02 million, a price-to-earnings ratio of 14.75 and a beta of 0.38. Ranger Energy Services has a 12 month low of $10.56 and a 12 month high of $18.45. The firm has a fifty day simple moving average of $11.92 and a 200 day simple moving average of $13.70.

Ranger Energy Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.06 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 1.85%. Ranger Energy Services's dividend payout ratio is currently 27.27%.

Institutional Trading of Ranger Energy Services

Several hedge funds have recently added to or reduced their stakes in RNGR. AQR Capital Management LLC raised its stake in Ranger Energy Services by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 244,598 shares of the company's stock worth $3,471,000 after buying an additional 25,923 shares during the period. Jane Street Group LLC increased its position in shares of Ranger Energy Services by 71.5% in the first quarter. Jane Street Group LLC now owns 19,000 shares of the company's stock valued at $270,000 after acquiring an additional 7,924 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Ranger Energy Services by 5.5% in the first quarter. Empowered Funds LLC now owns 137,775 shares of the company's stock valued at $1,955,000 after acquiring an additional 7,150 shares during the last quarter. Institutional investors and hedge funds own 68.10% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler began coverage on Ranger Energy Services in a research note on Monday, July 14th. They issued a "neutral" rating and a $13.00 target price for the company.

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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