Ranger Energy Services (NYSE:RNGR) Announces Earnings Results

Ranger Energy Services (NYSE:RNGR) posted its earnings results on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.11), FiscalAI reports. The company had revenue of $162.80 million for the quarter, compared to analysts’ expectations of $175.25 million. Ranger Energy Services had a return on equity of 5.18% and a net margin of 2.44%.

Ranger Energy Services Stock Performance

RNGR stock traded up $0.49 during trading on Wednesday, hitting $11.74. 99,543 shares of the company traded hands, compared to its average volume of 205,331. Ranger Energy Services has a 1 year low of $10.85 and a 1 year high of $18.82. The firm has a market capitalization of $274.67 million, a PE ratio of 18.06 and a beta of 0.25. The company has a 50-day moving average of $15.30 and a 200-day moving average of $16.14.

Ranger Energy Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 20th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, November 20th. This represents a $0.24 annualized dividend and a yield of 2.0%. Ranger Energy Services’s dividend payout ratio is currently 36.92%.

Insider Transactions at Ranger Energy Services

In other Ranger Energy Services news, CEO Stuart Bodden sold 95,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.16, for a total value of $1,630,200.00. Following the sale, the chief executive officer owned 273,800 shares of the company’s stock, valued at $4,698,408. This trade represents a 25.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Ranger Energy Services in a report on Monday, September 21st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

About Ranger Energy Services

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.