Zacks Investment Research cut shares of Ranger Energy Services (NYSE:RNGR) from a strong-buy rating to a hold rating in a report published on Wednesday.
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. “
RNGR has been the topic of a number of other reports. Piper Jaffray Companies reaffirmed a buy rating and issued a $12.00 price target on shares of Ranger Energy Services in a research note on Monday, August 13th. B. Riley began coverage on shares of Ranger Energy Services in a research note on Tuesday, November 20th. They issued a buy rating and a $10.00 price target on the stock. ValuEngine lowered shares of Ranger Energy Services from a hold rating to a sell rating in a research note on Monday, August 20th. Finally, Wells Fargo & Co decreased their price target on shares of Ranger Energy Services from $9.00 to $8.00 and set a market perform rating on the stock in a research note on Thursday, November 8th. One 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 has a consensus rating of Hold and a consensus price target of $10.05.
Shares of Ranger Energy Services stock opened at $7.87 on Wednesday. The stock has a market capitalization of $124.31 million, a P/E ratio of -10.09, a P/E/G ratio of 5.62 and a beta of 2.34. Ranger Energy Services has a twelve month low of $6.35 and a twelve month high of $11.39. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.84.
Ranger Energy Services (NYSE:RNGR) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.09. The firm had revenue of $82.10 million for the quarter, compared to analyst estimates of $79.85 million. Ranger Energy Services had a negative net margin of 2.76% and a positive return on equity of 0.14%. Sell-side analysts forecast that Ranger Energy Services will post 0.28 EPS for the current year.
In other Ranger Energy Services news, Director William M. Austin acquired 10,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average price of $8.08 per share, for a total transaction of $80,800.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.33% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Ranger Energy Services by 22.6% in the 2nd quarter. FMR LLC now owns 767,627 shares of the company’s stock valued at $7,039,000 after acquiring an additional 141,395 shares during the last quarter. LMR Partners LLP acquired a new stake in Ranger Energy Services in the 2nd quarter valued at about $179,000. Millennium Management LLC acquired a new stake in shares of Ranger Energy Services during the 2nd quarter worth approximately $670,000. Royce & Associates LP increased its holdings in shares of Ranger Energy Services by 51.6% during the 2nd quarter. Royce & Associates LP now owns 602,790 shares of the company’s stock worth $5,528,000 after buying an additional 205,177 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Ranger Energy Services during the 2nd quarter worth approximately $264,000. Institutional investors own 28.78% of the company’s stock.
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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