Ranger Energy Services (NYSE:RNGR) Issues Quarterly Earnings Results

Ranger Energy Services (NYSE:RNGR) announced its quarterly earnings results on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16), FiscalAI reports. Ranger Energy Services had a return on equity of 4.87% and a net margin of 2.36%. The firm had revenue of $162.80 million for the quarter, compared to analyst estimates of $175.83 million.

Ranger Energy Services Stock Performance

Ranger Energy Services stock opened at $12.42 on Tuesday. The firm has a 50 day moving average price of $15.41 and a 200 day moving average price of $16.16. Ranger Energy Services has a 1 year low of $11.88 and a 1 year high of $18.82. The company has a market cap of $290.60 million, a price-to-earnings ratio of 20.70 and a beta of 0.25.

Ranger Energy Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 20th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.9%. Ranger Energy Services’s payout ratio is currently 40.00%.

Insider Activity at Ranger Energy Services

In other news, CEO Stuart Bodden sold 95,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.16, for a total transaction of $1,630,200.00. Following the transaction, the chief executive officer directly owned 273,800 shares of the company’s stock, valued at approximately $4,698,408. The trade was a 25.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Ranger Energy Services in a research note on Monday, September 21st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc is an oilfield services company that supports the development, maintenance and production of oil and natural gas wells. The company primarily serves the onshore U.S. energy market, providing services throughout the life cycle of mature and producing wells.

Its operations include well servicing, workover and completion services, wireline and electric-line services, and equipment rental. Ranger’s well-servicing business uses a fleet of rigs to perform activities such as well maintenance, recompletions, remedial work and plugging and abandonment.