Ranger Energy Services (NYSE:RNGR) Upgraded at Wall Street Zen

Key Points

• Ranger Energy Services has been upgraded to a "strong-buy" rating by Wall Street Zen, signaling increased analyst confidence in the stock's potential.
• Piper Sandler initiated coverage with a "neutral" rating and a price objective of $13.00, while the current average target price remains the same.
• Insider trading has shown a recent sale by Director Brett T. Agee, who sold 11,147 shares, reducing their ownership to approximately 2.80% of the company.

Ranger Energy Services (NYSE:RNGR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

Separately, Piper Sandler began coverage on shares of Ranger Energy Services in a report on Monday, July 14th. They set a "neutral" rating and a $13.00 price objective on the stock. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $13.00.

Ranger Energy Services Trading Down 2.5%

NYSE:RNGR opened at $13.64 on Friday. The firm has a market cap of $298.00 million, a price-to-earnings ratio of 13.78 and a beta of 0.45. The company's 50-day moving average is $12.98 and its two-hundred day moving average is $12.82. Ranger Energy Services has a 12-month low of $10.56 and a 12-month high of $18.45.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.08. The company had revenue of $140.60 million for the quarter, compared to analyst estimates of $141.70 million. Ranger Energy Services had a net margin of 3.92% and a return on equity of 8.36%.

Insider Buying and Selling

In related news, Director Brett T. Agee sold 11,147 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $12.63, for a total value of $140,786.61. Following the transaction, the director owned 1,070,552 shares in the company, valued at approximately $13,521,071.76. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 24,285 shares of company stock valued at $309,184 in the last 90 days. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RNGR. JPMorgan Chase & Co. raised its holdings in Ranger Energy Services by 2,718.0% in the second quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company's stock valued at $5,186,000 after buying an additional 418,894 shares during the period. CSM Advisors LLC purchased a new stake in shares of Ranger Energy Services during the second quarter valued at approximately $3,691,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Ranger Energy Services during the first quarter worth $2,143,000. Nuveen LLC acquired a new position in shares of Ranger Energy Services during the first quarter worth $1,776,000. Finally, AQR Capital Management LLC lifted its position in shares of Ranger Energy Services by 45.1% during the second quarter. AQR Capital Management LLC now owns 354,809 shares of the company's stock worth $4,236,000 after purchasing an additional 110,211 shares in the last quarter. Hedge funds and other institutional investors own 68.10% of the company's stock.

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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