Ranger Energy Services (NYSE:RNGR) Stock Price Up 2.6% - Here's What Happened

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) shares traded up 2.6% on Thursday . The stock traded as high as $11.60 and last traded at $11.57. 312,187 shares traded hands during mid-day trading, an increase of 137% from the average session volume of 131,807 shares. The stock had previously closed at $11.28.

Analyst Upgrades and Downgrades

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

Ranger Energy Services Trading Down 0.2%

The stock has a fifty day simple moving average of $11.90 and a two-hundred day simple moving average of $13.83. The company has a market cap of $259.47 million, a PE ratio of 13.10 and a beta of 0.38.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). Ranger Energy Services had a net margin of 3.48% and a return on equity of 7.52%. The firm had revenue of $135.20 million during the quarter, compared to analyst estimates of $137.50 million.

Ranger Energy Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, May 9th. Ranger Energy Services's dividend payout ratio is presently 27.27%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Ranger Energy Services in the fourth quarter valued at approximately $318,000. Quantbot Technologies LP bought a new stake in shares of Ranger Energy Services during the fourth quarter worth $103,000. American Century Companies Inc. raised its holdings in shares of Ranger Energy Services by 12.4% in the fourth quarter. American Century Companies Inc. now owns 408,927 shares of the company's stock valued at $6,330,000 after acquiring an additional 45,074 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in Ranger Energy Services in the fourth quarter valued at about $3,756,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Ranger Energy Services by 102.4% during the fourth quarter. Prudential Financial Inc. now owns 219,222 shares of the company's stock worth $3,394,000 after purchasing an additional 110,907 shares during the period. Institutional investors and hedge funds own 68.10% of the company's stock.

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.