Ranger Energy Services (NYSE:RNGR) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Ranger Energy Services (NYSE:RNGR) from a hold rating to a sell rating in a report published on Thursday morning, Zacks.com reports.

According to Zacks, “Ranger Energy Services Inc. is a provider of well service rigs and services primarily in the United States. It focuses on unconventional horizontal well completion and production operations. Ranger Energy Services Inc. is based in HOUSTON, United States. “

Several other research firms have also recently weighed in on RNGR. Barclays restated a buy rating on shares of NXP Semiconductors in a research note on Sunday, May 5th. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Finally, Wells Fargo & Co initiated coverage on Propetro in a research report on Friday, March 29th. They set an outperform rating for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Ranger Energy Services currently has an average rating of Hold and an average price target of $10.29.

RNGR stock opened at $7.90 on Thursday. Ranger Energy Services has a 1-year low of $4.70 and a 1-year high of $10.74. The business has a fifty day simple moving average of $6.84. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $121.76 million, a PE ratio of 17.56 and a beta of 3.32.

Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.11. Ranger Energy Services had a return on equity of 2.31% and a net margin of 1.34%. The firm had revenue of $88.30 million during the quarter, compared to analysts’ expectations of $86.70 million. Analysts expect that Ranger Energy Services will post 0.82 EPS for the current year.

In related news, CFO John Brandon Blossman purchased 7,500 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average price of $6.35 per share, with a total value of $47,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Brc Partners Opportunity Fund, sold 22,100 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $7.50, for a total value of $165,750.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,983 shares of company stock valued at $437,416. 4.86% of the stock is owned by company insiders.

An institutional investor recently bought a new position in Ranger Energy Services stock. Dimensional Fund Advisors LP purchased a new stake in shares of Ranger Energy Services Inc (NYSE:RNGR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,854 shares of the company’s stock, valued at approximately $77,000. Dimensional Fund Advisors LP owned 0.09% of Ranger Energy Services as of its most recent filing with the Securities & Exchange Commission. 28.21% of the stock is owned by hedge funds and other institutional investors.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc provides well service rigs and related services in the United States. It operates through three segments: High Specification Rigs, Completion and Other Services, and Processing Solutions. The company offers well completion support services, such as milling out composite plugs used during hydraulic fracturing, wireline, and snubbing services; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.

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