Renaissance Technologies LLC Acquires 41,800 Shares of Ranger Energy Services, Inc. $RNGR

Renaissance Technologies LLC raised its holdings in Ranger Energy Services, Inc. (NYSE:RNGR) by 15.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,790 shares of the company’s stock after acquiring an additional 41,800 shares during the quarter. Renaissance Technologies LLC owned about 1.29% of Ranger Energy Services worth $5,258,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of Ranger Energy Services by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 244,598 shares of the company’s stock valued at $3,471,000 after purchasing an additional 25,923 shares in the last quarter. Empowered Funds LLC increased its position in Ranger Energy Services by 5.5% during the first quarter. Empowered Funds LLC now owns 137,775 shares of the company’s stock worth $1,955,000 after buying an additional 7,150 shares during the last quarter. Jane Street Group LLC increased its position in Ranger Energy Services by 71.5% during the first quarter. Jane Street Group LLC now owns 19,000 shares of the company’s stock worth $270,000 after buying an additional 7,924 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Ranger Energy Services during the second quarter valued at about $132,000. Finally, Geode Capital Management LLC lifted its position in shares of Ranger Energy Services by 6.7% in the second quarter. Geode Capital Management LLC now owns 387,100 shares of the company’s stock worth $4,623,000 after buying an additional 24,396 shares during the last quarter. 68.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RNGR has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Ranger Energy Services in a report on Wednesday, June 24th. Piper Sandler boosted their target price on Ranger Energy Services from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Wall Street Zen raised Ranger Energy Services from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, Zacks Research upgraded Ranger Energy Services from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Ranger Energy Services Stock Performance

Shares of NYSE:RNGR opened at $15.81 on Thursday. The stock’s 50-day moving average is $15.70 and its 200-day moving average is $16.30. The company has a market cap of $375.77 million, a P/E ratio of 26.36 and a beta of 0.12. Ranger Energy Services, Inc. has a 52-week low of $11.88 and a 52-week high of $18.82.

Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Ranger Energy Services had a return on equity of 4.87% and a net margin of 2.36%.The business had revenue of $176.50 million for the quarter, compared to analyst estimates of $163.93 million. As a group, equities analysts predict that Ranger Energy Services, Inc. will post 1.17 EPS for the current year.

Ranger Energy Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.5%. Ranger Energy Services’s payout ratio is 40.00%.

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.