Ranger Energy Services (NYSE:RNGR) Raised to “Buy” at Wall Street Zen

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

Several other research analysts have also recently weighed in on the company. Zacks Research upgraded Ranger Energy Services from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Piper Sandler boosted their target price on Ranger Energy Services from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ranger Energy Services in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Ranger Energy Services has a consensus rating of “Hold” and a consensus price target of $20.00.

Ranger Energy Services Price Performance

Shares of Ranger Energy Services stock opened at $17.04 on Friday. The stock has a market cap of $401.17 million, a P/E ratio of 31.55 and a beta of 0.17. The stock’s 50 day simple moving average is $16.94 and its 200-day simple moving average is $15.03. Ranger Energy Services has a 1-year low of $10.56 and a 1-year high of $17.98.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RNGR. IES Holdings Inc. acquired a new position in Ranger Energy Services in the fourth quarter valued at approximately $15,201,000. JPMorgan Chase & Co. lifted its holdings in Ranger Energy Services by 2,718.0% in the second quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company’s stock valued at $5,186,000 after acquiring an additional 418,894 shares during the last quarter. Simcoe Capital LLC acquired a new position in Ranger Energy Services in the fourth quarter valued at approximately $2,801,000. AQR Capital Management LLC lifted its holdings in Ranger Energy Services by 44.4% in the fourth quarter. AQR Capital Management LLC now owns 580,611 shares of the company’s stock valued at $8,117,000 after acquiring an additional 178,486 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Ranger Energy Services by 84.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 288,857 shares of the company’s stock valued at $4,056,000 after acquiring an additional 132,297 shares during the last quarter. 68.10% of the stock is currently owned by institutional investors and hedge funds.

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.