Insider Selling: Ranger Energy Services (NYSE:RNGR) VP Sells $21,301.50 in Stock

Ranger Energy Services, Inc. (NYSE:RNGR) VP J. Matt Hooker sold 1,291 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $16.50, for a total transaction of $21,301.50. Following the sale, the vice president directly owned 99,148 shares of the company’s stock, valued at $1,635,942. This trade represents a 1.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ranger Energy Services Trading Up 2.6%

RNGR stock opened at $15.54 on Friday. The stock has a market capitalization of $369.26 million, a PE ratio of 36.14 and a beta of 0.12. Ranger Energy Services, Inc. has a 12-month low of $11.88 and a 12-month high of $18.82. The stock’s 50 day simple moving average is $15.70 and its 200 day simple moving average is $16.27.

Ranger Energy Services (NYSE:RNGR) last issued its earnings results on Monday, July 27th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $176.50 million for the quarter, compared to analysts’ expectations of $163.93 million. Ranger Energy Services had a net margin of 1.76% and a return on equity of 3.55%. On average, research analysts predict that Ranger Energy Services, Inc. will post 1.13 earnings per share for the current year.

Ranger Energy Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.5%. Ranger Energy Services’s dividend payout ratio (DPR) is 55.81%.

Institutional Trading of Ranger Energy Services

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Ranger Energy Services by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,273,108 shares of the company’s stock valued at $21,822,000 after acquiring an additional 41,648 shares during the last quarter. IES Holdings Inc. purchased a new position in Ranger Energy Services in the fourth quarter worth about $15,201,000. Vanguard Group Inc. boosted its position in Ranger Energy Services by 1.7% in the third quarter. Vanguard Group Inc. now owns 845,875 shares of the company’s stock worth $11,876,000 after purchasing an additional 13,970 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Ranger Energy Services by 44.4% during the 4th quarter. AQR Capital Management LLC now owns 580,611 shares of the company’s stock valued at $8,117,000 after purchasing an additional 178,486 shares during the period. Finally, JPMorgan Chase & Co. grew its stake 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 valued at $5,186,000 after purchasing an additional 418,894 shares during the period. Institutional investors own 68.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ranger Energy Services in a research report on Wednesday, June 24th. Piper Sandler raised their price target on shares of Ranger Energy Services from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. 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. Finally, Zacks Research upgraded shares of Ranger Energy Services from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.