Quest Partners LLC Sells 15,771 Shares of Ranger Energy Services, Inc. (NYSE:RNGR)

Quest Partners LLC lowered its position in shares of Ranger Energy Services, Inc. (NYSE:RNGR) by 84.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,964 shares of the company’s stock after selling 15,771 shares during the quarter. Quest Partners LLC’s holdings in Ranger Energy Services were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RNGR. Gladius Capital Management LP purchased a new position in Ranger Energy Services in the second quarter worth $30,000. CWM LLC boosted its holdings in shares of Ranger Energy Services by 60.2% in the 2nd quarter. CWM LLC now owns 3,512 shares of the company’s stock worth $37,000 after buying an additional 1,320 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Ranger Energy Services in the 4th quarter worth about $96,000. Acadian Asset Management LLC purchased a new stake in Ranger Energy Services during the second quarter worth about $125,000. Finally, Quadrature Capital Ltd bought a new stake in Ranger Energy Services in the fourth quarter worth about $220,000. Hedge funds and other institutional investors own 68.10% of the company’s stock.

Insider Activity

In other news, SVP J. Matt Hooker sold 7,803 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.92, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RNGR. Barclays raised their price target on shares of Ranger Energy Services from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Piper Sandler decreased their target price on Ranger Energy Services from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, July 15th.

Ranger Energy Services Stock Up 2.1 %

NYSE RNGR opened at $12.41 on Friday. The company has a market cap of $275.75 million, a PE ratio of 18.25 and a beta of 0.49. Ranger Energy Services, Inc. has a 52 week low of $9.27 and a 52 week high of $14.64. The firm’s 50-day simple moving average is $11.76 and its two-hundred day simple moving average is $11.04.

Ranger Energy Services (NYSE:RNGR) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.15. Ranger Energy Services had a net margin of 2.61% and a return on equity of 5.73%. The company had revenue of $138.10 million for the quarter, compared to analysts’ expectations of $138.00 million. During the same period in the prior year, the company posted $0.24 EPS.

Ranger Energy Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, August 9th. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. Ranger Energy Services’s dividend payout ratio (DPR) is 29.41%.

About Ranger Energy Services

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.