Ranger Energy Services (NYSE:RNGR) Rating Lowered to “Hold” at Wall Street Zen

Ranger Energy Services (NYSE:RNGR) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

RNGR has been the topic of several other reports. Piper Sandler raised shares of Ranger Energy Services from a “neutral” rating to an “overweight” rating in a research note on Thursday, December 18th. Zacks Research raised shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ranger Energy Services in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.00.

Ranger Energy Services Price Performance

Shares of Ranger Energy Services stock opened at $16.78 on Friday. The stock has a market capitalization of $362.62 million, a price-to-earnings ratio of 31.07 and a beta of 0.17. The business has a 50-day moving average of $16.73 and a 200 day moving average of $14.84. Ranger Energy Services has a 12 month low of $10.56 and a 12 month high of $17.98.

Ranger Energy Services (NYSE:RNGR) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). Ranger Energy Services had a return on equity of 4.54% and a net margin of 2.25%.The business had revenue of $142.20 million for the quarter, compared to analysts’ expectations of $140.67 million.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. IES Holdings Inc. acquired a new position in Ranger Energy Services during the 4th quarter worth approximately $15,201,000. JPMorgan Chase & Co. lifted its position in shares of Ranger Energy Services by 2,718.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company’s stock worth $5,186,000 after purchasing an additional 418,894 shares during the last quarter. Simcoe Capital LLC purchased a new stake in shares of Ranger Energy Services during the 4th quarter worth $2,801,000. AQR Capital Management LLC grew its stake in shares of Ranger Energy Services by 44.4% during the fourth quarter. AQR Capital Management LLC now owns 580,611 shares of the company’s stock worth $8,117,000 after purchasing an additional 178,486 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Ranger Energy Services by 84.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 288,857 shares of the company’s stock worth $4,056,000 after purchasing an additional 132,297 shares in the last quarter. Hedge funds and other institutional investors 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.