Ranger Energy Services (NYSE:RNGR) Stock Rating Upgraded by 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.

Wall Street Zen upgraded shares of Ranger Energy Services (NYSE:RNGR - Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

Separately, Piper Sandler assumed coverage on Ranger Energy Services in a report on Monday, July 14th. They issued a "neutral" rating and a $13.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ranger Energy Services currently has an average rating of "Buy" and an average target price of $13.00.

Ranger Energy Services Price Performance

NYSE RNGR traded up $0.22 on Friday, reaching $14.36. The stock had a trading volume of 359,580 shares, compared to its average volume of 148,742. The firm has a fifty day moving average of $13.14 and a two-hundred day moving average of $12.76. Ranger Energy Services has a 1-year low of $10.56 and a 1-year high of $18.45. The company has a market cap of $313.67 million, a P/E ratio of 14.51 and a beta of 0.45.

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

Ranger Energy Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, August 8th. Ranger Energy Services's dividend payout ratio is presently 24.24%.

Insider Buying and Selling at Ranger Energy Services

In related news, Director Brett T. Agee sold 36,374 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $14.49, for a total transaction of $527,059.26. Following the completion of the sale, the director directly owned 1,001,805 shares in the company, valued at $14,516,154.45. This represents a 3.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 67,674 shares of company stock worth $936,698. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Ranger Energy Services

Several institutional investors and hedge funds have recently modified their holdings of the business. Encompass Capital Advisors LLC lifted its position in shares of Ranger Energy Services by 0.8% during the 2nd quarter. Encompass Capital Advisors LLC now owns 1,513,284 shares of the company's stock worth $18,069,000 after buying an additional 12,716 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Ranger Energy Services by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 539,685 shares of the company's stock worth $6,444,000 after buying an additional 57,313 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ranger Energy Services by 2,718.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company's stock worth $5,186,000 after buying an additional 418,894 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Ranger Energy Services by 15.4% during the 2nd quarter. Bridgeway Capital Management LLC now owns 414,921 shares of the company's stock worth $4,954,000 after buying an additional 55,240 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Ranger Energy Services by 6.7% during the 2nd quarter. Geode Capital Management LLC now owns 387,100 shares of the company's stock worth $4,623,000 after buying an additional 24,396 shares during the last quarter. 68.10% of the stock is currently owned by institutional investors.

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.