Ranger Energy Services (NYSE:RNGR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Ranger Energy Services Inc. is a provider of well service rigs and services primarily in the United States. It focuses on unconventional horizontal well completion and production operations. Ranger Energy Services Inc. is based in HOUSTON, United States. “
A number of other research firms also recently commented on RNGR. Piper Jaffray Companies restated a “buy” rating and issued a $12.00 price objective on shares of Ranger Energy Services in a report on Monday, August 13th. ValuEngine downgraded Ranger Energy Services from a “hold” rating to a “sell” rating in a report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $12.25.
Ranger Energy Services stock opened at $7.64 on Friday. The stock has a market capitalization of $132.17 million, a PE ratio of -9.79, a PEG ratio of 5.41 and a beta of 2.09. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. Ranger Energy Services has a 12 month low of $6.88 and a 12 month high of $14.88.
Ranger Energy Services (NYSE:RNGR) last released its quarterly earnings data on Tuesday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.18). The firm had revenue of $73.10 million during the quarter, compared to analysts’ expectations of $75.75 million. Ranger Energy Services had a negative return on equity of 2.77% and a negative net margin of 5.73%. On average, equities analysts forecast that Ranger Energy Services will post 0.31 earnings per share for the current fiscal year.
In related news, Director Merrill A. Miller, Jr. bought 11,850 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were acquired at an average cost of $8.47 per share, for a total transaction of $100,369.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.33% of the company’s stock.
Large investors have recently made changes to their positions in the stock. LMR Partners LLP purchased a new stake in shares of Ranger Energy Services during the 2nd quarter valued at about $179,000. Paloma Partners Management Co purchased a new stake in shares of Ranger Energy Services during the 2nd quarter valued at about $264,000. Millennium Management LLC purchased a new stake in shares of Ranger Energy Services during the 2nd quarter valued at about $670,000. B. Riley Financial Inc. raised its holdings in shares of Ranger Energy Services by 30.3% during the 2nd quarter. B. Riley Financial Inc. now owns 541,166 shares of the company’s stock valued at $4,962,000 after buying an additional 125,996 shares during the period. Finally, Royce & Associates LP grew its stake in Ranger Energy Services by 51.6% during the 2nd quarter. Royce & Associates LP now owns 602,790 shares of the company’s stock valued at $5,528,000 after purchasing an additional 205,177 shares in the last quarter. Institutional investors and hedge funds own 28.96% of the company’s stock.
About Ranger Energy Services
Ranger Energy Services, Inc provides well service rigs and associated services in the United States. It operates through two segments, Well Services and Processing Solutions. The company offers well completion support srevices, such as milling out composite plugs used during hydraulic fracturing; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.
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