Ranger Energy Services, Inc. (RNGR) to Issue Quarterly Dividend of $0.06 on August 21st

Ranger Energy Services, Inc. (NYSE:RNGR) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Friday, August 7th will be paid a dividend of 0.06 per share on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 7th.

Ranger Energy Services has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ranger Energy Services to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 16.4%.

Ranger Energy Services Stock Performance

Shares of RNGR opened at $15.99 on Wednesday. Ranger Energy Services has a 52 week low of $11.88 and a 52 week high of $18.82. The firm has a market capitalization of $380.04 million, a P/E ratio of 26.66 and a beta of 0.12. The company has a 50-day simple moving average of $15.69 and a 200-day simple moving average of $16.30.

Ranger Energy Services (NYSE:RNGR) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $176.50 million during the quarter, compared to the consensus estimate of $163.93 million. Ranger Energy Services had a net margin of 2.36% and a return on equity of 4.87%. As a group, equities analysts forecast that Ranger Energy Services will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Zacks Research upgraded 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 note on Wednesday, June 24th. Piper Sandler lifted their price objective on Ranger Energy Services from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen raised Ranger Energy Services from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.00.

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.