Ranger Energy Services (NYSE:RNGR) Shares Up 0.2% - What's Next?

Key Points

• Ranger Energy Services shares edged up 0.2% on Monday, trading slightly above the prior close with volume running well above average.
• Analyst sentiment is mixed, but the consensus remains “Hold” with an average price target of $20; Piper Sandler recently raised its target to $20 and kept an overweight rating.
• The company reported Q1 earnings of $0.12 per share, missing estimates, though revenue of $159.1 million came in above expectations. Ranger also paid a quarterly dividend of $0.06 per share, equal to a 1.5% annualized yield.

Shares of Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) shot up 0.2% during trading on Monday . The stock traded as high as $16.54 and last traded at $16.1150. 349,150 shares were traded during trading, an increase of 85% from the average session volume of 188,855 shares. The stock had previously closed at $16.09.

Analyst Upgrades and Downgrades

RNGR has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Ranger Energy Services from $17.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Zacks Research raised shares of Ranger Energy Services from a "strong sell" rating to a "hold" rating in a research report on Friday, July 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Ranger Energy Services in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Ranger Energy Services from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.00.

Ranger Energy Services Stock Up 0.2%

The business has a 50 day simple moving average of $15.86 and a 200 day simple moving average of $16.12. The company has a market capitalization of $382.89 million, a PE ratio of 25.58 and a beta of 0.12.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.24). Ranger Energy Services had a return on equity of 5.12% and a net margin of 2.58%.The business had revenue of $159.10 million for the quarter, compared to analysts' expectations of $156.20 million. Equities analysts expect that Ranger Energy Services, Inc. will post 1.13 EPS for the current fiscal year.

Ranger Energy Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, May 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.5%. Ranger Energy Services's dividend payout ratio is presently 38.10%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. IES Holdings Inc. purchased a new stake in shares of Ranger Energy Services during the fourth quarter valued at $15,201,000. JPMorgan Chase & Co. raised its stake in Ranger Energy Services by 2,718.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company's stock worth $5,186,000 after acquiring an additional 418,894 shares during the last quarter. Simcoe Capital LLC acquired a new stake in Ranger Energy Services during the 4th quarter worth about $2,801,000. AQR Capital Management LLC lifted its position in Ranger Energy Services by 44.4% during the 4th quarter. AQR Capital Management LLC now owns 580,611 shares of the company's stock worth $8,117,000 after acquiring an additional 178,486 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in Ranger Energy Services by 84.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 288,857 shares of the company's stock valued at $4,056,000 after purchasing an additional 132,297 shares during the last quarter. Hedge funds and other institutional investors own 68.10% of the company's stock.

Ranger Energy Services Company Profile

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.

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