Ranger Energy Services (NYSE:RNGR) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Ranger Energy Services (NYSE:RNGR) has been upgraded to a strong-buy rating by Wall Street Zen, reflecting increased investor confidence.
• The company reported earnings of $0.32 EPS, surpassing analyst expectations of $0.24, despite slightly missing revenue projections.
• Approximately 68.10% of shares are currently held by institutional investors and hedge funds, indicating significant institutional interest in 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 report released on Saturday.

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

Ranger Energy Services Stock Up 0.5%

Shares of Ranger Energy Services stock traded up $0.06 during trading hours on Friday, hitting $12.99. 21,377 shares of the company's stock traded hands, compared to its average volume of 156,770. The stock has a 50 day simple moving average of $12.43 and a 200-day simple moving average of $13.38. The company has a market cap of $283.74 million, a PE ratio of 13.12 and a beta of 0.43. Ranger Energy Services has a twelve month low of $10.56 and a twelve month high of $18.45.

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

Ranger Energy Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, August 8th. Ranger Energy Services's dividend payout ratio is 24.24%.

Institutional Investors Weigh In On Ranger Energy Services

A number of institutional investors have recently modified their holdings of RNGR. American Century Companies Inc. boosted its holdings in shares of Ranger Energy Services by 11.9% in the 2nd quarter. American Century Companies Inc. now owns 539,685 shares of the company's stock valued at $6,444,000 after buying an additional 57,313 shares during the period. Heron Bay Capital Management acquired a new position in shares of Ranger Energy Services in the 2nd quarter valued at about $144,000. Rhumbline Advisers boosted its holdings in shares of Ranger Energy Services by 10.4% in the 2nd quarter. Rhumbline Advisers now owns 26,813 shares of the company's stock valued at $320,000 after buying an additional 2,536 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in shares of Ranger Energy Services by 27.0% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 21,390 shares of the company's stock valued at $255,000 after buying an additional 4,550 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Ranger Energy Services by 39.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 383,850 shares of the company's stock valued at $4,583,000 after buying an additional 109,000 shares during the period. Institutional investors and hedge funds 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.