Ranger Energy Services, Inc. (NYSE:RNGR) Declares Dividend Increase – $0.06 Per Share

Ranger Energy Services, Inc. (NYSE:RNGR) announced a quarterly dividend on Monday, March 3rd, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.06 per share on Friday, March 28th. This represents a $0.24 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Ranger Energy Services’s previous quarterly dividend of $0.05.

Ranger Energy Services has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings.

Ranger Energy Services Price Performance

Ranger Energy Services stock traded down $0.35 during mid-day trading on Tuesday, hitting $15.80. 317,203 shares of the company’s stock traded hands, compared to its average volume of 114,691. Ranger Energy Services has a fifty-two week low of $9.27 and a fifty-two week high of $18.45. The stock has a market cap of $351.47 million, a price-to-earnings ratio of 23.94 and a beta of 0.55. The firm has a 50 day simple moving average of $16.71 and a two-hundred day simple moving average of $14.64.

Insider Transactions at Ranger Energy Services

In other news, Director Brett T. Agee sold 19,209 shares of Ranger Energy Services stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.30, for a total transaction of $293,897.70. Following the completion of the sale, the director now owns 1,843,999 shares of the company’s stock, valued at approximately $28,213,184.70. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 126,337 shares of company stock valued at $2,047,139. 3.00% of the stock is currently owned by corporate insiders.

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.