Ranger Energy Services (NYSE:RNGR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ranger Energy Services (NYSE:RNGR) from a hold rating to a buy rating in a report published on Saturday morning.

RNGR has been the subject of several other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Ranger Energy Services in a research report on Friday, March 27th. Piper Sandler upped their price objective on shares of Ranger Energy Services from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Zacks Research upgraded shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. One investment 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 presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Ranger Energy Services Stock Performance

RNGR stock opened at $17.39 on Friday. The firm has a market cap of $409.53 million, a price-to-earnings ratio of 32.20 and a beta of 0.17. The firm has a 50-day simple moving average of $16.96 and a two-hundred day simple moving average of $15.06. Ranger Energy Services has a one year low of $10.56 and a one year high of $17.98.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $142.20 million for the quarter, compared to analysts’ expectations of $140.67 million. Ranger Energy Services had a net margin of 2.25% and a return on equity of 4.54%. As a group, equities analysts predict that Ranger Energy Services will post 1.63 earnings per share for the current fiscal year.

Ranger Energy Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Friday, March 20th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, March 20th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. Ranger Energy Services’s dividend payout ratio is 44.44%.

Hedge Funds Weigh In On Ranger Energy Services

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP increased its holdings in 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 period. BNP Paribas Financial Markets increased its holdings in Ranger Energy Services by 97.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,602 shares of the company’s stock worth $79,000 after buying an additional 2,758 shares during the period. Russell Investments Group Ltd. increased its holdings in Ranger Energy Services by 46.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company’s stock worth $112,000 after buying an additional 2,525 shares during the period. Engineers Gate Manager LP acquired a new position in Ranger Energy Services in the 2nd quarter worth approximately $125,000. Finally, Osaic Holdings Inc. increased its holdings in Ranger Energy Services by 134.1% in the 2nd quarter. Osaic Holdings Inc. now owns 10,626 shares of the company’s stock worth $127,000 after buying an additional 6,087 shares during the period. 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.