Ranger Energy Services (NYSE:RNGR) Announces Quarterly Earnings Results, Misses Estimates By $0.33 EPS

Ranger Energy Services (NYSE:RNGR) announced its quarterly earnings results on Monday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33), Zacks reports. Ranger Energy Services had a net margin of 3.92% and a return on equity of 8.36%.

Ranger Energy Services Price Performance

Ranger Energy Services stock opened at $13.79 on Monday. The stock has a market capitalization of $301.06 million, a P/E ratio of 13.92 and a beta of 0.39. Ranger Energy Services has a 12-month low of $10.56 and a 12-month high of $18.45. The firm’s 50-day moving average is $13.69 and its two-hundred day moving average is $12.75.

Insider Buying and Selling at Ranger Energy Services

In related news, Director Brett T. Agee sold 36,374 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $14.49, for a total transaction of $527,059.26. Following the transaction, the director owned 1,001,805 shares of the company’s stock, valued at approximately $14,516,154.45. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 81,688 shares of company stock valued at $1,140,042 over the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Ranger Energy Services by 2,718.0% during the second quarter. JPMorgan Chase & Co. now owns 434,306 shares of the company’s stock worth $5,186,000 after purchasing an additional 418,894 shares during the last quarter. AQR Capital Management LLC increased its stake in Ranger Energy Services by 45.1% in the second quarter. AQR Capital Management LLC now owns 354,809 shares of the company’s stock valued at $4,236,000 after purchasing an additional 110,211 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Ranger Energy Services by 15.4% during the second quarter. Bridgeway Capital Management LLC now owns 414,921 shares of the company’s stock worth $4,954,000 after buying an additional 55,240 shares during the period. Qube Research & Technologies Ltd lifted its position in Ranger Energy Services by 66.5% during the second quarter. Qube Research & Technologies Ltd now owns 119,327 shares of the company’s stock worth $1,425,000 after buying an additional 47,662 shares during the period. Finally, Jane Street Group LLC boosted its stake in Ranger Energy Services by 151.1% in the 2nd quarter. Jane Street Group LLC now owns 47,709 shares of the company’s stock worth $570,000 after buying an additional 28,709 shares during the last quarter. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Ranger Energy Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Wall Street Zen downgraded shares of Ranger Energy Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Zacks Research cut shares of Ranger Energy Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Piper Sandler began coverage on Ranger Energy Services in a research report on Monday, July 14th. They set a “neutral” rating and a $13.00 price objective for the company. One equities 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 company has a consensus rating of “Hold” and an average target price of $13.00.

Ranger Energy Services Company Profile

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.