Ranger Energy Services (NYSE:RNGR) Issues Earnings Results, Misses Estimates By $0.33 EPS

Ranger Energy Services (NYSE:RNGR) announced its earnings results on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33), Zacks reports. Ranger Energy Services had a net margin of 3.92% and a return on equity of 8.36%.

Ranger Energy Services Stock Down 7.3%

RNGR stock opened at $12.75 on Monday. The firm has a market cap of $278.44 million, a P/E ratio of 12.88 and a beta of 0.39. The company’s 50-day moving average price is $13.69 and its two-hundred day moving average price is $12.75. Ranger Energy Services has a 12 month low of $10.56 and a 12 month high of $18.45.

Insiders Place Their Bets

In other Ranger Energy Services news, Director Brett T. Agee sold 14,014 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $14.51, for a total transaction of $203,343.14. Following the completion of the transaction, the director owned 987,791 shares of the company’s stock, valued at approximately $14,332,847.41. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 81,688 shares of company stock worth $1,140,042 in the last three months. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ranger Energy Services

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Ranger Energy Services by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 845,875 shares of the company’s stock worth $11,876,000 after acquiring an additional 13,970 shares during the period. Rhumbline Advisers grew its stake in Ranger Energy Services by 6.9% during the third quarter. Rhumbline Advisers now owns 28,662 shares of the company’s stock worth $402,000 after purchasing an additional 1,849 shares during the period. Envestnet Asset Management Inc. grew its stake in Ranger Energy Services by 30.4% during the third quarter. Envestnet Asset Management Inc. now owns 14,437 shares of the company’s stock worth $203,000 after purchasing an additional 3,363 shares during the period. Osaic Holdings Inc. lifted its stake in Ranger Energy Services by 134.1% in the second quarter. Osaic Holdings Inc. now owns 10,626 shares of the company’s stock valued at $127,000 after buying an additional 6,087 shares during the period. Finally, Oxford Asset Management LLP acquired a new stake in shares of Ranger Energy Services during the 2nd quarter worth approximately $174,000. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RNGR has been the subject of several research reports. Zacks Research downgraded Ranger Energy Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Wall Street Zen downgraded shares of Ranger Energy Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Piper Sandler assumed coverage on shares of Ranger Energy Services in a report on Monday, July 14th. They issued a “neutral” rating and a $13.00 price target on the stock. Finally, Weiss Ratings upgraded Ranger Energy Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.00.

About Ranger Energy Services

Ranger Energy Services, Inc provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States. It operates through three segments: High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services.