Ranger Energy Services, Inc. (NYSE:RNGR) Sees Large Drop in Short Interest

Ranger Energy Services, Inc. (NYSE:RNGR – Get Rating) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totalling 10,300 shares, a decline of 51.6% from the April 15th total of 21,300 shares. Based on an average daily trading volume, of 41,000 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are short sold.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Ranger Energy Services by 6.7% in the third quarter. BlackRock Inc. now owns 28,176 shares of the company’s stock valued at $259,000 after buying an additional 1,761 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Ranger Energy Services by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 31,080 shares of the company’s stock valued at $319,000 after buying an additional 2,535 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ranger Energy Services by 2.0% in the first quarter. Vanguard Group Inc. now owns 259,651 shares of the company’s stock valued at $2,661,000 after buying an additional 5,051 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ranger Energy Services by 14.8% in the first quarter. Dimensional Fund Advisors LP now owns 43,235 shares of the company’s stock valued at $443,000 after buying an additional 5,565 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Ranger Energy Services by 1.4% in the first quarter. Royce & Associates LP now owns 416,490 shares of the company’s stock valued at $4,269,000 after buying an additional 5,600 shares during the last quarter. 92.40% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Ranger Energy Services from a “buy” rating to a “hold” rating in a research note on Tuesday, January 18th. Barclays lifted their price objective on Ranger Energy Services from $12.00 to $14.00 in a report on Monday, May 2nd.

Shares of NYSE RNGR traded up $0.15 during midday trading on Friday, reaching $9.81. 15,054 shares of the company traded hands, compared to its average volume of 66,263. The firm has a market cap of $242.31 million, a PE ratio of -23.36 and a beta of 1.68. The stock’s 50-day simple moving average is $10.21 and its 200-day simple moving average is $10.18. Ranger Energy Services has a 12 month low of $5.96 and a 12 month high of $12.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.07 and a current ratio of 1.10.

Ranger Energy Services (NYSE:RNGR – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.40). Ranger Energy Services had a net margin of 1.98% and a negative return on equity of 10.58%. The company had revenue of $123.60 million for the quarter, compared to the consensus estimate of $128.10 million. On average, equities research analysts expect that Ranger Energy Services will post 1.09 EPS for the current year.

Ranger Energy Services Company Profile (Get Rating)

Ranger Energy Services, Inc provides onshore high specification well service rigs, wireline completion 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.

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