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

Ranger Energy Services, Inc. (NYSE:RNGR) announced a quarterly dividend on Thursday, March 5th. Investors of record on Friday, March 20th will be given a dividend of 0.06 per share on Monday, April 6th. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, March 20th.

Ranger Energy Services has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings.

Ranger Energy Services Stock Performance

Shares of RNGR stock opened at $16.98 on Friday. Ranger Energy Services has a fifty-two week low of $10.56 and a fifty-two week high of $17.89. The firm has a market cap of $366.94 million, a P/E ratio of 26.12 and a beta of 0.15. The business’s 50 day moving average price is $15.65 and its 200-day moving average price is $14.35.

Ranger Energy Services (NYSE:RNGR) last released 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). The company had revenue of $142.20 million during the quarter, compared to the consensus estimate of $140.67 million. Ranger Energy Services had a return on equity of 5.60% and a net margin of 2.72%.

Analysts Set New Price Targets

RNGR has been the subject of several analyst reports. Piper Sandler upgraded Ranger Energy Services from a “neutral” rating to an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Ranger Energy Services in a research note on Monday, December 29th. Wall Street Zen cut shares of Ranger Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Zacks Research upgraded shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.00.

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.