Piper Sandler Lowers Ranger Energy Services (NYSE:RNGR) Price Target to $12.00

Ranger Energy Services (NYSE:RNGR) had its price target cut by equities research analysts at Piper Sandler from $13.00 to $12.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 13.21% from the company’s current price.

Ranger Energy Services Stock Performance

Shares of NYSE RNGR opened at $10.60 on Monday. The company has a market capitalization of $242.53 million, a P/E ratio of 15.59 and a beta of 0.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.90. Ranger Energy Services has a one year low of $9.27 and a one year high of $14.64. The business’s 50-day moving average price is $10.28 and its two-hundred day moving average price is $10.45.

Ranger Energy Services (NYSE:RNGR) last posted its earnings results on Tuesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.08). Ranger Energy Services had a return on equity of 6.18% and a net margin of 2.73%. The business had revenue of $136.90 million during the quarter, compared to the consensus estimate of $135.00 million. Analysts anticipate that Ranger Energy Services will post 0.43 earnings per share for the current fiscal year.

Insider Transactions at Ranger Energy Services

In other news, CFO Melissa Cougle bought 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average cost of $9.60 per share, with a total value of $72,000.00. Following the completion of the transaction, the chief financial officer now directly owns 71,842 shares in the company, valued at $689,683.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Ranger Energy Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ritholtz Wealth Management lifted its stake in Ranger Energy Services by 53.6% during the fourth quarter. Ritholtz Wealth Management now owns 19,444 shares of the company’s stock worth $199,000 after purchasing an additional 6,788 shares during the period. Copeland Capital Management LLC acquired a new stake in shares of Ranger Energy Services during the 4th quarter worth about $29,000. Strs Ohio grew its stake in Ranger Energy Services by 19.5% during the fourth quarter. Strs Ohio now owns 50,800 shares of the company’s stock worth $519,000 after buying an additional 8,300 shares during the last quarter. Foundry Partners LLC grew its stake in Ranger Energy Services by 419.5% during the fourth quarter. Foundry Partners LLC now owns 255,830 shares of the company’s stock worth $2,617,000 after buying an additional 206,580 shares during the last quarter. Finally, Bailard Inc. raised its stake in shares of Ranger Energy Services by 40.7% in the fourth quarter. Bailard Inc. now owns 25,600 shares of the company’s stock valued at $262,000 after acquiring an additional 7,400 shares during the last quarter. Institutional investors own 68.10% of the company’s stock.

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.