Ranger Energy Services (NYSE:RNGR) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Ranger Energy Services (NYSE:RNGR) from a strong-buy rating to a strong sell rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other brokerages have also issued reports on RNGR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ranger Energy Services in a research report on Friday, March 27th. Piper Sandler increased their price target on Ranger Energy Services from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Finally, Wall Street Zen upgraded Ranger Energy Services from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Ranger Energy Services Trading Down 3.5%

Shares of RNGR stock opened at $15.87 on Wednesday. The firm has a fifty day simple moving average of $17.11 and a 200-day simple moving average of $15.40. The company has a market capitalization of $373.71 million, a PE ratio of 25.19 and a beta of 0.15. Ranger Energy Services has a twelve month low of $10.56 and a twelve month high of $18.82.

Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings results on Monday, April 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.24). Ranger Energy Services had a return on equity of 5.12% and a net margin of 2.58%.The firm had revenue of $159.10 million for the quarter, compared to analysts’ expectations of $156.20 million. Equities research analysts predict that Ranger Energy Services will post 1.13 EPS for the current year.

Ranger Energy Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.5%. Ranger Energy Services’s payout ratio is presently 38.10%.

Hedge Funds Weigh In On Ranger Energy Services

Large investors have recently modified their holdings of the stock. CSM Advisors LLC increased its holdings in Ranger Energy Services by 0.4% in the fourth quarter. CSM Advisors LLC now owns 300,849 shares of the company’s stock valued at $4,207,000 after buying an additional 1,055 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Ranger Energy Services by 2.5% during the first quarter. Janney Montgomery Scott LLC now owns 48,909 shares of the company’s stock valued at $838,000 after buying an additional 1,177 shares in the last quarter. Nuveen LLC lifted its holdings in Ranger Energy Services by 2.0% during the 4th quarter. Nuveen LLC now owns 63,266 shares of the company’s stock worth $884,000 after buying an additional 1,251 shares during the last quarter. First Trust Advisors LP lifted its holdings in Ranger Energy Services by 2.8% during the 4th quarter. First Trust Advisors LP now owns 45,567 shares of the company’s stock worth $637,000 after buying an additional 1,260 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Ranger Energy Services by 16.1% in the 4th quarter. Russell Investments Group Ltd. now owns 9,299 shares of the company’s stock worth $130,000 after acquiring an additional 1,290 shares in the last quarter. Institutional investors own 68.10% of the company’s stock.

About Ranger Energy Services

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.