Ranger Energy Services (NYSE:RNGR) Posts Earnings Results, Misses Expectations By $0.33 EPS

Ranger Energy Services (NYSE:RNGR) posted its quarterly earnings data on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33), Zacks reports. The company had revenue of $128.90 million for the quarter, compared to analysts’ expectations of $141.00 million. Ranger Energy Services had a return on equity of 5.58% and a net margin of 2.72%.

Ranger Energy Services Trading Up 2.0%

NYSE:RNGR opened at $13.98 on Wednesday. The stock has a market capitalization of $305.30 million, a P/E ratio of 21.51 and a beta of 0.39. The stock has a 50-day moving average price of $13.68 and a 200 day moving average price of $12.78. Ranger Energy Services has a 12-month low of $10.56 and a 12-month high of $18.45.

Ranger Energy Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, November 21st. Ranger Energy Services’s payout ratio is 24.24%.

Insider Buying and Selling

In other news, Director Brett T. Agee sold 36,374 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $14.49, for a total transaction of $527,059.26. Following the sale, the director directly owned 1,001,805 shares of the company’s stock, valued at $14,516,154.45. This represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 81,688 shares of company stock worth $1,140,042 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ranger Energy Services

Several hedge funds and other institutional investors have recently modified their holdings of RNGR. Rhumbline Advisers boosted its position in Ranger Energy Services by 6.9% in the 3rd quarter. Rhumbline Advisers now owns 28,662 shares of the company’s stock valued at $402,000 after buying an additional 1,849 shares during the period. Quantbot Technologies LP grew its position in shares of Ranger Energy Services by 51.7% in the 2nd 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. Envestnet Asset Management Inc. boosted its position in shares of Ranger Energy Services by 30.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 14,437 shares of the company’s stock worth $203,000 after purchasing an additional 3,363 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Ranger Energy Services by 134.1% during the second quarter. Osaic Holdings Inc. now owns 10,626 shares of the company’s stock valued at $127,000 after acquiring an additional 6,087 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Ranger Energy Services by 5.5% during the first quarter. Empowered Funds LLC now owns 137,775 shares of the company’s stock worth $1,955,000 after buying an additional 7,150 shares during the period. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RNGR has been the topic of several research reports. Zacks Research lowered shares of Ranger Energy Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings raised shares of Ranger Energy Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Wall Street Zen cut shares of Ranger Energy Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Ranger Energy Services presently has an average rating of “Hold” and a consensus target price of $13.00.

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.