Ranger Energy Services (NYSE:RNGR) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Ranger Energy Services (RNGR) from "hold" to strong-buy, and other analysts have raised ratings and price targets, leaving a consensus Buy rating and a $20 target.
• Ranger reported Q1 EPS of $0.12 versus a $0.36 consensus (revenue $159.1M), and the stock fell about 6.4% to open at $17.26 following the miss.
• Institutional investors own about 68.1% of RNGR, with recent sizable purchases by IES Holdings, JPMorgan, AQR and others.

Ranger Energy Services (NYSE:RNGR - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Piper Sandler lifted their price objective on shares of Ranger Energy Services from $17.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Ranger Energy Services in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of Ranger Energy Services from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $20.00.

Ranger Energy Services Trading Down 6.4%

RNGR stock opened at $17.26 on Monday. Ranger Energy Services has a 1 year low of $10.56 and a 1 year high of $18.82. The company has a fifty day simple moving average of $17.12 and a 200 day simple moving average of $15.25. The firm has a market cap of $406.45 million, a PE ratio of 27.40 and a beta of 0.17.

Ranger Energy Services (NYSE:RNGR - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.24). Ranger Energy Services had a net margin of 2.58% and a return on equity of 5.21%. The business had revenue of $159.10 million during the quarter, compared to analyst estimates of $154.80 million. As a group, analysts forecast that Ranger Energy Services will post 1.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RNGR. IES Holdings Inc. acquired a new position in Ranger Energy Services during the 4th quarter worth $15,201,000. JPMorgan Chase & Co. raised its position in shares of Ranger Energy Services by 2,718.0% during 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 last quarter. Simcoe Capital LLC acquired a new position in shares of Ranger Energy Services during the fourth quarter valued at about $2,801,000. AQR Capital Management LLC raised its position in shares of Ranger Energy Services by 44.4% during the fourth quarter. AQR Capital Management LLC now owns 580,611 shares of the company's stock valued at $8,117,000 after buying an additional 178,486 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Ranger Energy Services by 84.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 288,857 shares of the company's stock valued at $4,056,000 after buying an additional 132,297 shares during the last quarter. Institutional investors and hedge funds own 68.10% of the company's stock.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc, based in The Woodlands, Texas, is a North American land drilling contractor serving exploration and production companies in the oil and natural gas industry. The company provides contract drilling, well servicing, pressure pumping and completion support services designed to enhance operational efficiency and optimize well performance.

Through its diversified fleet of drilling and service rigs and ancillary equipment, Ranger offers turnkey solutions across all phases of the drilling lifecycle—from pad construction and drilling to completion and workover operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.