Ranger Energy Services (NYSE:RNGR) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Ranger Energy Services (NYSE:RNGR) released its quarterly earnings data on Monday. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10, Zacks reports. Ranger Energy Services had a net margin of 2.61% and a return on equity of 5.73%. The business had revenue of $153.00 million for the quarter. During the same period in the previous year, the business earned $0.38 EPS.

Ranger Energy Services Price Performance

RNGR traded up $0.07 on Thursday, hitting $12.78. 1,964 shares of the stock were exchanged, compared to its average volume of 118,199. Ranger Energy Services has a 12 month low of $9.27 and a 12 month high of $13.54. The business has a 50-day moving average of $12.18 and a two-hundred day moving average of $11.21. The firm has a market capitalization of $292.44 million, a price-to-earnings ratio of 18.68 and a beta of 0.49.

Ranger Energy Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.56%. Ranger Energy Services’s payout ratio is presently 29.41%.

Insider Buying and Selling

In other Ranger Energy Services news, SVP J. Matt Hooker sold 7,803 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $12.27, for a total transaction of $95,742.81. Following the completion of the transaction, the senior vice president now owns 92,600 shares of the company’s stock, valued at approximately $1,136,202. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RNGR. Barclays boosted their target price on shares of Ranger Energy Services from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Friday, August 16th. Piper Sandler reduced their price objective on shares of Ranger Energy Services from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, July 15th.

About Ranger Energy Services

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.