Ranger Energy Services, Inc. (NYSE:RNGR) Short Interest Down 23.8% in August

Key Points

• Short interest in Ranger Energy Services decreased by 23.8% in August, falling from 380,000 shares to 289,500 shares, representing about 1.4% of the total shares.
• Director Brett T. Agee sold 36,374 shares at an average price of $14.49, reducing his stake by 3.50% and indicating ongoing insider activity.
• Ranger Energy Services received several analyst upgrades, with a notable shift from a "buy" rating to a "strong-buy" rating by Wall Street Zen, reflecting positive sentiment among analysts.

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 289,500 shares, a decrease of 23.8% from the August 15th total of 380,000 shares. Based on an average trading volume of 188,800 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.4% of the shares of the stock are short sold. Currently, 1.4% of the shares of the stock are short sold. Based on an average trading volume of 188,800 shares, the days-to-cover ratio is currently 1.5 days.

Ranger Energy Services Stock Down 3.8%

Shares of RNGR traded down $0.54 during mid-day trading on Friday, hitting $13.83. 533,629 shares of the company's stock were exchanged, compared to its average volume of 160,155. Ranger Energy Services has a twelve month low of $10.56 and a twelve month high of $18.45. The firm has a fifty day moving average of $13.17 and a two-hundred day moving average of $12.73. The stock has a market cap of $302.05 million, a price-to-earnings ratio of 13.97 and a beta of 0.45.

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

Ranger Energy Services Dividend Announcement

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

Insider Buying and Selling at Ranger Energy Services

In other Ranger Energy Services news, Director Brett T. Agee sold 14,014 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $14.51, for a total transaction of $203,343.14. Following the transaction, the director owned 987,791 shares of the company's stock, valued at $14,332,847.41. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 81,688 shares of company stock valued at $1,140,042 over the last ninety days. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ranger Energy Services

A number of institutional investors have recently modified their holdings of the stock. Encompass Capital Advisors LLC lifted its holdings in Ranger Energy Services by 0.8% in the 2nd quarter. Encompass Capital Advisors LLC now owns 1,513,284 shares of the company's stock worth $18,069,000 after purchasing an additional 12,716 shares in the last quarter. American Century Companies Inc. grew its stake in 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 purchasing an additional 57,313 shares in the last quarter. JPMorgan Chase & Co. boosted 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 acquiring an additional 418,894 shares in the last quarter. Bridgeway Capital Management LLC increased its position in 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 purchasing an additional 55,240 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Ranger Energy Services by 6.7% during the 2nd quarter. Geode Capital Management LLC now owns 387,100 shares of the company's stock valued at $4,623,000 after buying an additional 24,396 shares during the last quarter. 68.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RNGR has been the topic of several recent research reports. Wall Street Zen upgraded Ranger Energy Services from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Zacks Research upgraded shares of Ranger Energy Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 12th. Finally, Piper Sandler began coverage on shares of Ranger Energy Services in a research report on Monday, July 14th. They set a "neutral" rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Ranger Energy Services has an average rating of "Buy" and a consensus target price of $13.00.

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.