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

Ranger Energy Services, Inc. (NYSE:RNGR) was the recipient of a large 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. Based on an average daily trading volume, of 153,980 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.4% of the shares of the company are short sold. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 153,980 shares, the days-to-cover ratio is presently 2.0 days.

Ranger Energy Services Stock Down 0.1%

RNGR traded down $0.02 during trading hours on Monday, hitting $14.70. The stock had a trading volume of 110,139 shares, compared to its average volume of 162,052. Ranger Energy Services has a 1 year low of $10.56 and a 1 year high of $18.45. The company’s fifty day simple moving average is $13.88 and its 200 day simple moving average is $13.47. The stock has a market cap of $317.62 million, a PE ratio of 22.61 and a beta of 0.15.

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

Ranger Energy Services Announces Dividend

The business 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 was Friday, November 21st. This represents a $0.24 annualized dividend and a dividend yield of 1.6%. Ranger Energy Services’s dividend payout ratio is currently 36.92%.

Institutional Trading of Ranger Energy Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its stake in Ranger Energy Services by 20.3% in the 2nd quarter. CWM LLC now owns 7,035 shares of the company’s stock worth $84,000 after purchasing an additional 1,185 shares during the period. Rhumbline Advisers lifted its holdings in shares of Ranger Energy Services by 6.9% in the third quarter. Rhumbline Advisers now owns 28,662 shares of the company’s stock worth $402,000 after buying an additional 1,849 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Ranger Energy Services by 51.7% in the second quarter. Quantbot Technologies LP now owns 6,277 shares of the company’s stock valued at $75,000 after acquiring an additional 2,140 shares during the period. Russell Investments Group Ltd. grew its stake in Ranger Energy Services by 46.0% during the third quarter. Russell Investments Group Ltd. now owns 8,009 shares of the company’s stock valued at $112,000 after acquiring an additional 2,525 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Ranger Energy Services by 97.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,602 shares of the company’s stock worth $79,000 after acquiring an additional 2,758 shares during the period. 68.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RNGR has been the subject of a number of research analyst reports. Zacks Research downgraded Ranger Energy Services from a “hold” rating to a “strong sell” rating in a research report on Friday, December 19th. Piper Sandler raised Ranger Energy Services from a “neutral” rating to an “overweight” rating in a research report on Thursday, December 18th. Wall Street Zen downgraded shares of Ranger Energy Services from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ranger Energy Services in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.00.

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.