Wall Street Zen Downgrades Ranger Energy Services (NYSE:RNGR) to Buy

Key Points

• Ranger Energy Services (NYSE:RNGR) was downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, reflecting a shift in analyst sentiment regarding the stock's performance.
• Despite the downgrade, the consensus among analysts remains a "Buy" rating with a price target of $13.00, indicating continued optimism about its value.
• Insider transactions show a notable 3.50% decrease in ownership by a director, who sold 36,374 shares, raising concerns about insider confidence in the stock.

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

Several other equities research analysts have also recently commented on RNGR. Piper Sandler started coverage on Ranger Energy Services in a report on Monday, July 14th. They set a "neutral" rating and a $13.00 target price on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Ranger Energy Services in a report on Wednesday. Finally, Zacks Research raised Ranger Energy Services from a "hold" rating to a "strong-buy" rating in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Ranger Energy Services presently has a consensus rating of "Buy" and a consensus price target of $13.00.

Ranger Energy Services Trading Down 3.0%

RNGR opened at $12.36 on Friday. The business's 50 day moving average is $13.57 and its 200-day moving average is $12.67. The stock has a market cap of $269.94 million, a PE ratio of 12.48 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 released its quarterly earnings results on Monday, July 28th. The company reported $0.32 earnings per share 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 company had revenue of $140.60 million for the quarter, compared to analysts' expectations of $141.70 million.

Insider Transactions at Ranger Energy Services

In other Ranger Energy Services news, Director Brett T. Agee sold 36,374 shares of Ranger Energy Services stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $14.49, for a total value of $527,059.26. Following the transaction, the director owned 1,001,805 shares in the company, valued at approximately $14,516,154.45. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 81,688 shares of company stock valued at $1,140,042 in the last quarter. Insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE acquired a new position in Ranger Energy Services in the first quarter worth approximately $25,000. Pinnacle Holdings LLC acquired a new position in Ranger Energy Services in the first quarter worth approximately $29,000. CWM LLC grew its position in Ranger Energy Services by 28.3% in the first quarter. CWM LLC now owns 5,850 shares of the company's stock worth $83,000 after buying an additional 1,289 shares during the last quarter. Quantbot Technologies LP grew its position in Ranger Energy Services by 51.7% in the second quarter. Quantbot Technologies LP now owns 6,277 shares of the company's stock worth $75,000 after buying an additional 2,140 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Ranger Energy Services by 1,523.0% in the first quarter. GAMMA Investing LLC now owns 7,563 shares of the company's stock worth $107,000 after buying an additional 7,097 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 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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