Ranger Energy Services, Inc. (NYSE:RNGR) Increases Dividend to $0.06 Per Share

Ranger Energy Services, Inc. (NYSE:RNGR) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.06 per share on Friday, March 28th. This represents a $0.24 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Ranger Energy Services’s previous quarterly dividend of $0.05.

Ranger Energy Services has a dividend payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings.

Ranger Energy Services Stock Down 2.2 %

Shares of RNGR stock traded down $0.35 during trading hours on Tuesday, hitting $15.80. 317,203 shares of the company’s stock were exchanged, compared to its average volume of 114,691. The firm has a market cap of $351.47 million, a P/E ratio of 23.94 and a beta of 0.55. The firm has a 50 day moving average of $16.71 and a two-hundred day moving average of $14.64. Ranger Energy Services has a fifty-two week low of $9.27 and a fifty-two week high of $18.45.

Insider Buying and Selling at Ranger Energy Services

In other Ranger Energy Services news, Director Brett T. Agee sold 19,209 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.30, for a total value of $293,897.70. Following the completion of the sale, the director now directly owns 1,843,999 shares of the company’s stock, valued at $28,213,184.70. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 126,337 shares of company stock valued at $2,047,139 over the last quarter. 3.00% of the stock is currently owned by insiders.

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.