Ranger Energy Services (NYSE:RNGR) Announces Earnings Results

Ranger Energy Services (NYSE:RNGR) released its earnings results on Monday. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10, Zacks reports. Ranger Energy Services had a net margin of 2.61% and a return on equity of 5.73%. The business had revenue of $153.00 million for the quarter. During the same period last year, the business earned $0.38 earnings per share.

Ranger Energy Services Trading Up 0.8 %

Ranger Energy Services stock traded up $0.10 during trading on Tuesday, hitting $12.73. The company had a trading volume of 19,088 shares, compared to its average volume of 118,558. Ranger Energy Services has a 1-year low of $9.27 and a 1-year high of $13.72. The company’s 50 day simple moving average is $12.13 and its 200-day simple moving average is $11.19. The stock has a market cap of $291.30 million, a price-to-earnings ratio of 18.60 and a beta of 0.49.

Ranger Energy Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, November 8th. Ranger Energy Services’s payout ratio is presently 29.41%.

Insider Activity at Ranger Energy Services

In related news, SVP J. Matt Hooker sold 7,803 shares of Ranger Energy Services stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $12.27, for a total value of $95,742.81. Following the completion of the sale, the senior vice president now owns 92,600 shares in the company, valued at approximately $1,136,202. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on RNGR shares. Piper Sandler decreased their target price on shares of Ranger Energy Services from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Barclays lifted their price target on shares of Ranger Energy Services from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Friday, August 16th.

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.