Ranger Energy Services (NYSE:RNGR) Issues Quarterly Earnings Results

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) released its earnings results on Monday. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.08, Zacks reports. The firm 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 Stock Down 6.3%

Ranger Energy Services stock traded down $0.85 during trading hours on Friday, reaching $12.54. 45,365 shares of the company's stock were exchanged, compared to its average volume of 158,048. The firm's 50 day simple moving average is $12.14 and its 200 day simple moving average is $13.67. Ranger Energy Services has a twelve month low of $10.56 and a twelve month high of $18.45. The firm has a market capitalization of $282.15 million, a PE ratio of 12.66 and a beta of 0.38.

Ranger Energy Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 8th. Ranger Energy Services's dividend payout ratio (DPR) is presently 24.24%.

Institutional Trading of Ranger Energy Services

A number of large investors have recently bought and sold shares of RNGR. Envestnet Asset Management Inc. acquired a new stake in shares of Ranger Energy Services in the 2nd quarter valued at about $132,000. Jane Street Group LLC increased its stake in shares of Ranger Energy Services by 71.5% during the 1st quarter. Jane Street Group LLC now owns 19,000 shares of the company's stock worth $270,000 after purchasing an additional 7,924 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Ranger Energy Services by 5.5% during the 1st quarter. Empowered Funds LLC now owns 137,775 shares of the company's stock worth $1,955,000 after purchasing an additional 7,150 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of 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 purchasing an additional 25,923 shares during the last quarter. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler started coverage on Ranger Energy Services in a report on Monday, July 14th. They issued a "neutral" rating and a $13.00 price objective 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.