Ranger Energy Services, Inc. (NYSE:RNGR) to Issue $0.06 Quarterly Dividend

Ranger Energy Services, Inc. (NYSE:RNGR) announced a quarterly dividend on Monday, July 27th. Investors of record on Friday, August 7th will be paid a dividend of 0.06 per share on Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 7th.

Ranger Energy Services has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Ranger Energy Services to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 15.9%.

Ranger Energy Services Stock Performance

NYSE RNGR opened at $15.44 on Tuesday. The stock has a market capitalization of $366.81 million, a price-to-earnings ratio of 24.51 and a beta of 0.12. The stock’s 50 day moving average price is $15.78 and its two-hundred day moving average price is $16.25. Ranger Energy Services has a 52 week low of $11.88 and a 52 week high of $18.82.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings results on Monday, July 27th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $176.50 million for the quarter, compared to analyst estimates of $163.93 million. Ranger Energy Services had a return on equity of 5.12% and a net margin of 2.58%. On average, equities research analysts forecast that Ranger Energy Services will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on RNGR. Zacks Research upgraded shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Wall Street Zen upgraded shares of Ranger Energy Services from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Piper Sandler boosted their price target on shares of Ranger Energy Services from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ranger Energy Services in a research note on Wednesday, June 24th. One 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 currently has an average rating of “Hold” and an average target price of $20.00.

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.