Ranger Energy Services (NYSE:RNGR) Trading 2.6% Higher - What's Next?

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

Wall Street Analysts Forecast Growth

Separately, Piper Sandler started coverage on shares of Ranger Energy Services in a report on Monday. They set a "neutral" rating and a $13.00 price target for the company.

Ranger Energy Services Trading Up 2.6%

The company has a market cap of $260.33 million, a price-to-earnings ratio of 13.15 and a beta of 0.38. The stock has a 50-day simple moving average of $11.89 and a 200-day simple moving average of $13.89.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last released its 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). The company had revenue of $135.20 million for the quarter, compared to analyst estimates of $137.50 million. Ranger Energy Services had a net margin of 3.48% and a return on equity of 7.52%.

Ranger Energy Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, May 9th. Ranger Energy Services's payout ratio is 27.27%.

Institutional Trading of Ranger Energy Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Ranger Energy Services by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,034,476 shares of the company's stock worth $16,013,000 after buying an additional 75,088 shares during the period. American Century Companies Inc. lifted its position in shares of Ranger Energy Services by 18.0% in the 1st quarter. American Century Companies Inc. now owns 482,372 shares of the company's stock valued at $6,845,000 after acquiring an additional 73,445 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Ranger Energy Services by 1.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 377,231 shares of the company's stock worth $5,840,000 after purchasing an additional 4,381 shares during the period. Geode Capital Management LLC raised its stake in Ranger Energy Services by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 355,976 shares of the company's stock valued at $5,511,000 after purchasing an additional 4,183 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Ranger Energy Services by 9.8% during the 1st quarter. Acadian Asset Management LLC now owns 291,632 shares of the company's stock valued at $4,135,000 after purchasing an additional 26,076 shares during the period. 68.10% of the stock is owned by institutional investors and hedge funds.

About Ranger Energy Services

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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