Ranger Energy Services (NYSE:RNGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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 equities research analysts have also commented on the stock. Piper Jaffray Companies set a $13.00 price target on shares of Ranger Energy Services and gave the company a “buy” rating in a report on Wednesday, October 3rd. ValuEngine lowered shares of Ranger Energy Services from a “hold” rating to a “sell” rating in a report on Monday, August 20th. Finally, Wells Fargo & Co lowered their price target on shares of Ranger Energy Services from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Ranger Energy Services currently has a consensus rating of “Hold” and an average price target of $9.90.
NYSE:RNGR opened at $7.70 on Friday. Ranger Energy Services has a 52 week low of $6.35 and a 52 week high of $11.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.93. The firm has a market cap of $111.98 million, a P/E ratio of 355.00, a PEG ratio of 6.93 and a beta of 2.20.
In related news, Director Merrill A. Miller, Jr. acquired 11,850 shares of Ranger Energy Services stock in a transaction on Tuesday, September 4th. The shares were acquired at an average cost of $8.47 per share, with a total value of $100,369.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.33% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of RNGR. LMR Partners LLP purchased a new position in Ranger Energy Services during the 2nd quarter valued at $179,000. Paloma Partners Management Co purchased a new position in Ranger Energy Services during the 2nd quarter valued at $264,000. Millennium Management LLC purchased a new position in Ranger Energy Services during the 2nd quarter valued at $670,000. B. Riley Financial Inc. increased its position in 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 purchasing an additional 125,996 shares during the period. Finally, Royce & Associates LP increased its position 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 during the period. 29.02% of the stock is currently owned by institutional investors and hedge funds.
Ranger Energy Services Company Profile
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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