Ranger Energy Services (NYSE:RNGR) had its target price cut by stock analysts at Wells Fargo & Co from $9.00 to $8.00 in a research note issued on Thursday. The firm currently has a “market perform” rating on the stock. Wells Fargo & Co’s price target would suggest a potential upside of 15.94% from the stock’s previous close.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Ranger Energy Services from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. 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. Finally, ValuEngine downgraded shares of Ranger Energy Services from a “hold” rating to a “sell” rating in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.90.
RNGR stock remained flat at $$6.90 during trading on Thursday. 828 shares of the company traded hands, compared to its average volume of 10,634. Ranger Energy Services has a 12-month low of $6.35 and a 12-month high of $11.47. The company has a market cap of $107.09 million, a P/E ratio of -8.85, a P/E/G ratio of 15.09 and a beta of 2.20. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.19.
Ranger Energy Services (NYSE:RNGR) last announced its quarterly earnings results on Tuesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.18). Ranger Energy Services had a negative net margin of 2.76% and a positive return on equity of 0.14%. The firm had revenue of $73.10 million for the quarter, compared to the consensus estimate of $75.75 million. As a group, equities research analysts predict that Ranger Energy Services will post 0.09 earnings per share for the current year.
In related news, Director Merrill A. Miller, Jr. bought 11,850 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was bought at an average cost of $8.47 per share, with a total value of $100,369.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.33% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. LMR Partners LLP bought a new position in shares of Ranger Energy Services in the second quarter worth about $179,000. Paloma Partners Management Co bought a new position in shares of Ranger Energy Services in the second quarter worth about $264,000. Millennium Management LLC bought a new position in shares of Ranger Energy Services in the second quarter worth about $670,000. B. Riley Financial Inc. raised its stake in shares of Ranger Energy Services by 30.3% in the second quarter. B. Riley Financial Inc. now owns 541,166 shares of the company’s stock worth $4,962,000 after acquiring an additional 125,996 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Ranger Energy Services by 51.6% in the second quarter. Royce & Associates LP now owns 602,790 shares of the company’s stock worth $5,528,000 after acquiring an additional 205,177 shares during the last quarter. 29.02% of the stock is owned by institutional investors.
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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