Ranger Energy Services (NYSE:RNGR) Issues Quarterly Earnings Results

Ranger Energy Services (NYSE:RNGR) announced its earnings results on Monday. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.18), Zacks reports. Ranger Energy Services had a net margin of 2.58% and a return on equity of 5.12%.

Ranger Energy Services Stock Down 1.7%

Ranger Energy Services stock traded down $0.27 during mid-day trading on Monday, hitting $15.44. 232,594 shares of the company’s stock traded hands, compared to its average volume of 211,587. Ranger Energy Services has a one year low of $11.88 and a one year high of $18.82. The firm has a 50 day moving average price of $15.81 and a 200 day moving average price of $16.24. The company has a market cap of $366.81 million, a PE ratio of 24.51 and a beta of 0.12.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RNGR. Zacks Research raised Ranger Energy Services from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ranger Energy Services in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Ranger Energy Services from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Piper Sandler boosted their price objective on Ranger Energy Services from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.00.

Institutional Investors Weigh In On Ranger Energy Services

Institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG lifted its stake in shares of Ranger Energy Services by 49.9% in the 4th quarter. Deutsche Bank AG now owns 15,215 shares of the company’s stock worth $213,000 after acquiring an additional 5,067 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Ranger Energy Services by 30.4% during the third quarter. Envestnet Asset Management Inc. now owns 14,437 shares of the company’s stock valued at $203,000 after acquiring an additional 3,363 shares during the period. Oxford Asset Management LLP bought a new stake in Ranger Energy Services during the second quarter worth approximately $174,000. Engineers Gate Manager LP bought a new stake in Ranger Energy Services during the fourth quarter worth approximately $173,000. Finally, Aristides Capital LLC acquired a new stake in Ranger Energy Services in the third quarter worth approximately $168,000. Institutional investors and hedge funds own 68.10% of the company’s stock.

About Ranger Energy Services

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.