Ranger Energy Services (NYSE:RNGR) Releases Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Key Points

• Ranger Energy Services reported Q1 EPS of $0.12, missing analysts' consensus by $0.24 (consensus $0.36), while revenue beat at $159.1 million versus $154.8 million; the company posted a net margin of 2.25% and ROE of 4.54%.
• The company paid a quarterly dividend of $0.06 (annualized $0.24), yielding 1.3% with a dividend payout ratio of 44.44%.
• Analyst sentiment has improved recently—Piper Sandler raised its target to $20 with an overweight rating and Wall Street Zen upgraded to buy—while institutional investors hold about 68.1% of the shares.

Ranger Energy Services (NYSE:RNGR - Get Free Report) announced its earnings results on Monday. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.24), FiscalAI reports. The company had revenue of $159.10 million during the quarter, compared to analysts' expectations of $154.80 million. Ranger Energy Services had a return on equity of 4.54% and a net margin of 2.25%.

Ranger Energy Services Stock Up 0.2%

RNGR opened at $18.35 on Tuesday. The stock's fifty day moving average is $17.10 and its two-hundred day moving average is $15.22. The company has a market capitalization of $432.14 million, a P/E ratio of 33.98 and a beta of 0.17. Ranger Energy Services has a 52 week low of $10.56 and a 52 week high of $18.82.

Ranger Energy Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Friday, March 20th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, March 20th. Ranger Energy Services's dividend payout ratio (DPR) is presently 44.44%.

Analyst Ratings Changes

RNGR has been the subject of a number of analyst reports. Piper Sandler raised their price target on Ranger Energy Services from $17.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Weiss Ratings restated a "hold (c)" rating on shares of Ranger Energy Services in a report on Friday, March 27th. Zacks Research raised Ranger Energy Services from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th. Finally, Wall Street Zen upgraded Ranger Energy Services from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Ranger Energy Services has a consensus rating of "Hold" and an average target price of $20.00.

Hedge Funds Weigh In On Ranger Energy Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP increased its stake in shares of Ranger Energy Services by 51.7% during the second quarter. Quantbot Technologies LP now owns 6,277 shares of the company's stock valued at $75,000 after buying an additional 2,140 shares during the period. BNP Paribas Financial Markets grew its holdings in Ranger Energy Services by 97.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,602 shares of the company's stock worth $79,000 after acquiring an additional 2,758 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Ranger Energy Services by 46.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company's stock worth $112,000 after acquiring an additional 2,525 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Ranger Energy Services during the 2nd quarter valued at about $125,000. Finally, Osaic Holdings Inc. increased its position in Ranger Energy Services by 134.1% during the 2nd quarter. Osaic Holdings Inc. now owns 10,626 shares of the company's stock valued at $127,000 after purchasing an additional 6,087 shares during the period. Institutional investors own 68.10% of the company's stock.

About Ranger Energy Services

Ranger Energy Services, Inc, based in The Woodlands, Texas, is a North American land drilling contractor serving exploration and production companies in the oil and natural gas industry. The company provides contract drilling, well servicing, pressure pumping and completion support services designed to enhance operational efficiency and optimize well performance.

Through its diversified fleet of drilling and service rigs and ancillary equipment, Ranger offers turnkey solutions across all phases of the drilling lifecycle—from pad construction and drilling to completion and workover operations.