Ranger Energy Services, Inc. (NYSE:RNGR) Short Interest Down 18.3% in December

Ranger Energy Services, Inc. (NYSE:RNGR) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 304,008 shares, a drop of 18.3% from the December 15th total of 371,912 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average trading volume of 153,980 shares, the short-interest ratio is presently 2.0 days. Based on an average trading volume of 153,980 shares, the short-interest ratio is presently 2.0 days. Approximately 1.4% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities analysts recently weighed in on RNGR shares. Wall Street Zen lowered shares of Ranger Energy Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research lowered shares of Ranger Energy Services from a “hold” rating to a “strong sell” rating in a research note on Friday, December 19th. Piper Sandler raised Ranger Energy Services from a “neutral” rating to an “overweight” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ranger Energy Services in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ranger Energy Services has a consensus rating of “Hold” and an average target price of $13.00.

Hedge Funds Weigh In On Ranger Energy Services

Large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ranger Energy Services in the 2nd quarter worth about $317,000. Inspire Investing LLC purchased a new stake in Ranger Energy Services in the 3rd quarter worth $1,040,000. CSM Advisors LLC purchased a new position in Ranger Energy Services during the second quarter valued at $3,691,000. Rhumbline Advisers grew its holdings in Ranger Energy Services by 8.5% during the 1st quarter. Rhumbline Advisers now owns 24,277 shares of the company’s stock valued at $344,000 after buying an additional 1,906 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Ranger Energy Services in the 2nd quarter worth about $220,000. 68.10% of the stock is owned by hedge funds and other institutional investors.

Ranger Energy Services Trading Down 3.4%

Shares of NYSE RNGR traded down $0.50 during midday trading on Tuesday, reaching $14.20. The company’s stock had a trading volume of 30,938 shares, compared to its average volume of 198,086. The stock has a 50 day simple moving average of $13.90 and a 200-day simple moving average of $13.49. The stock has a market capitalization of $306.84 million, a price-to-earnings ratio of 21.85 and a beta of 0.15. Ranger Energy Services has a fifty-two week low of $10.56 and a fifty-two week high of $18.45.

Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33). Ranger Energy Services had a return on equity of 5.60% and a net margin of 2.72%.The firm had revenue of $128.90 million for the quarter, compared to the consensus estimate of $141.00 million.

Ranger Energy Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.24 annualized dividend and a dividend yield of 1.7%. Ranger Energy Services’s dividend payout ratio (DPR) is currently 36.92%.

About Ranger Energy Services

Ranger Energy Services, Inc, based in The Woodlands, Texas, is a North American land drilling contractor serving exploration and production companies in the oil and natural gas industry. The company provides contract drilling, well servicing, pressure pumping and completion support services designed to enhance operational efficiency and optimize well performance.

Through its diversified fleet of drilling and service rigs and ancillary equipment, Ranger offers turnkey solutions across all phases of the drilling lifecycle—from pad construction and drilling to completion and workover operations.