Zacks Investment Research upgraded shares of Ranger Energy Services (NYSE:RNGR) from a hold rating to a buy rating in a research note released on Tuesday morning. The firm currently has $6.75 price objective on the stock.
According to Zacks, “Ranger Energy Services Inc. is a provider of well service rigs and services primarily in the United States. It focuses on unconventional horizontal well completion and production operations. Ranger Energy Services Inc. is based in HOUSTON, United States. “
Several other analysts have also issued reports on the stock. ValuEngine lowered shares of Ranger Energy Services from a sell rating to a strong sell rating in a research report on Wednesday, January 2nd. B. Riley began coverage on shares of Ranger Energy Services in a research report on Tuesday, November 20th. They set a buy rating and a $10.00 price target for the company. Wells Fargo & Co cut their price target on shares of Ranger Energy Services from $9.00 to $8.00 and set a market perform rating for the company in a research report on Thursday, November 8th. Finally, Piper Jaffray Companies set a $13.00 price target on shares of Ranger Energy Services and gave the company a buy rating in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $9.55.
Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.09. Ranger Energy Services had a negative net margin of 2.76% and a positive return on equity of 0.14%. The business had revenue of $82.10 million during the quarter, compared to analyst estimates of $79.85 million. Sell-side analysts predict that Ranger Energy Services will post 0.28 earnings per share for the current fiscal year.
In other news, Director William M. Austin bought 10,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The stock was bought at an average cost of $8.08 per share, for a total transaction of $80,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have bought 15,520 shares of company stock valued at $122,350. 4.33% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Paloma Partners Management Co purchased a new stake in shares of Ranger Energy Services during the second quarter worth about $264,000. Millennium Management LLC purchased a new stake in shares of Ranger Energy Services during the second quarter worth about $670,000. Vanguard Group Inc. boosted its holdings in shares of Ranger Energy Services by 6.1% during the third quarter. Vanguard Group Inc. now owns 256,399 shares of the company’s stock worth $2,148,000 after purchasing an additional 14,832 shares during the period. Vanguard Group Inc boosted its holdings in shares of Ranger Energy Services by 6.1% during the third quarter. Vanguard Group Inc now owns 256,399 shares of the company’s stock worth $2,148,000 after purchasing an additional 14,832 shares during the period. Finally, B. Riley Financial Inc. boosted its holdings in shares of Ranger Energy Services by 30.3% during the second quarter. B. Riley Financial Inc. now owns 541,166 shares of the company’s stock worth $4,962,000 after purchasing an additional 125,996 shares during the period. Institutional investors own 28.78% of the company’s stock.
Ranger Energy Services Company Profile
Ranger Energy Services, Inc provides well service rigs and associated services in the United States. It operates through two segments, Well Services and Processing Solutions. The company offers well completion support srevices, such as milling out composite plugs used during hydraulic fracturing; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.
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