147,400 Shares in Ranger Energy Services, Inc. (NYSE:RNGR) Acquired by Kestrel Investment Management Corp

Kestrel Investment Management Corp bought a new stake in shares of Ranger Energy Services, Inc. (NYSE:RNGR) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 147,400 shares of the company’s stock, valued at approximately $1,551,000.

A number of other hedge funds also recently modified their holdings of the business. Gladius Capital Management LP purchased a new position in Ranger Energy Services during the second quarter valued at approximately $30,000. CWM LLC increased its stake in shares of Ranger Energy Services by 60.2% in the second quarter. CWM LLC now owns 3,512 shares of the company’s stock worth $37,000 after acquiring an additional 1,320 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Ranger Energy Services during the fourth quarter worth $96,000. Acadian Asset Management LLC acquired a new stake in Ranger Energy Services during the second quarter valued at $125,000. Finally, Quadrature Capital Ltd acquired a new position in Ranger Energy Services in the 4th quarter worth about $220,000. Hedge funds and other institutional investors own 68.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler dropped their price objective on Ranger Energy Services from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Barclays raised their price target on shares of Ranger Energy Services from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday, August 16th.

Ranger Energy Services Stock Performance

RNGR opened at $11.84 on Monday. Ranger Energy Services, Inc. has a twelve month low of $9.27 and a twelve month high of $14.64. The business has a 50 day moving average price of $11.60 and a 200 day moving average price of $11.00. The firm has a market cap of $263.08 million, a P/E ratio of 17.41 and a beta of 0.49.

Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.15. The business had revenue of $138.10 million during the quarter, compared to the consensus estimate of $138.00 million. Ranger Energy Services had a net margin of 2.61% and a return on equity of 5.73%. During the same period in the prior year, the firm earned $0.24 EPS.

Ranger Energy Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.20 annualized dividend and a dividend yield of 1.69%. Ranger Energy Services’s dividend payout ratio is presently 29.41%.

Insider Activity at Ranger Energy Services

In other news, SVP J. Matt Hooker sold 7,803 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.92, for a total transaction of $93,011.76. Following the completion of the transaction, the senior vice president now directly owns 100,403 shares in the company, valued at $1,196,803.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.

Ranger Energy Services 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.