Ranger Energy Services (NYSE:RNGR) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Ranger Energy Services (NYSE:RNGR) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ranger Energy Services in a research note on Monday, December 29th. Piper Sandler raised shares of Ranger Energy Services from a “neutral” rating to an “overweight” rating in a research report on Thursday, December 18th. Finally, Wall Street Zen cut shares of Ranger Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ranger Energy Services has a consensus rating of “Hold” and a consensus target price of $13.00.

Ranger Energy Services Stock Performance

Ranger Energy Services stock opened at $14.21 on Monday. The company’s 50 day simple moving average is $13.90 and its 200-day simple moving average is $13.50. Ranger Energy Services has a 1 year low of $10.56 and a 1 year high of $18.45. The company has a market capitalization of $307.12 million, a price-to-earnings ratio of 21.86 and a beta of 0.15.

Ranger Energy Services (NYSE:RNGR) last announced its earnings results on Monday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). Ranger Energy Services had a net margin of 2.72% and a return on equity of 5.60%. The firm had revenue of $128.90 million during the quarter, compared to analysts’ expectations of $141.00 million.

Ranger Energy Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, November 21st. Ranger Energy Services’s payout ratio is 36.92%.

Hedge Funds Weigh In On Ranger Energy Services

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP raised its stake in Ranger Energy Services by 51.7% in the second quarter. Quantbot Technologies LP now owns 6,277 shares of the company’s stock valued at $75,000 after buying an additional 2,140 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Ranger Energy Services by 97.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,602 shares of the company’s stock worth $79,000 after acquiring an additional 2,758 shares in the last quarter. CWM LLC raised its position in shares of Ranger Energy Services by 20.3% during the 2nd quarter. CWM LLC now owns 7,035 shares of the company’s stock worth $84,000 after acquiring an additional 1,185 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Ranger Energy Services by 46.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company’s stock worth $112,000 after acquiring an additional 2,525 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in Ranger Energy Services in the second quarter valued at approximately $125,000. Institutional investors and hedge funds own 68.10% of the company’s stock.

Ranger Energy Services Company Profile

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.