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

Ranger Energy Services, Inc. (NYSE:RNGR) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 162,700 shares, a decline of 17.0% from the February 13th total of 196,100 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 133,000 shares, the short-interest ratio is currently 1.2 days.

Ranger Energy Services Stock Up 2.0 %

Shares of Ranger Energy Services stock traded up $0.29 during trading on Wednesday, hitting $14.44. 74,333 shares of the company were exchanged, compared to its average volume of 110,425. Ranger Energy Services has a fifty-two week low of $9.27 and a fifty-two week high of $18.45. The stock has a market capitalization of $321.22 million, a price-to-earnings ratio of 21.87 and a beta of 0.56. The firm has a 50 day moving average price of $16.54 and a 200 day moving average price of $14.84.

Ranger Energy Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from Ranger Energy Services’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, March 14th. Ranger Energy Services’s dividend payout ratio is presently 29.27%.

Insider Activity

In related news, Director Brett T. Agee sold 30,000 shares of Ranger Energy Services stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $14.61, for a total value of $438,300.00. Following the sale, the director now directly owns 1,803,539 shares in the company, valued at $26,349,704.79. The trade was a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 30,539 shares of company stock valued at $446,118. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Ranger Energy Services

Several large investors have recently made changes to their positions in RNGR. Foundry Partners LLC raised its position in shares of Ranger Energy Services by 10.1% in the 3rd quarter. Foundry Partners LLC now owns 450,897 shares of the company’s stock valued at $5,370,000 after purchasing an additional 41,321 shares in the last quarter. Geode Capital Management LLC increased its stake in Ranger Energy Services by 3.5% during the third quarter. Geode Capital Management LLC now owns 351,793 shares of the company’s stock valued at $4,190,000 after purchasing an additional 11,921 shares during the last quarter. Barclays PLC raised its holdings in shares of Ranger Energy Services by 82.9% during the third quarter. Barclays PLC now owns 33,404 shares of the company’s stock worth $398,000 after purchasing an additional 15,139 shares during the period. Quest Partners LLC grew its position in shares of Ranger Energy Services by 24.4% during the 3rd quarter. Quest Partners LLC now owns 3,687 shares of the company’s stock valued at $44,000 after buying an additional 723 shares during the last quarter. Finally, Inspire Advisors LLC acquired a new stake in Ranger Energy Services during the fourth quarter worth about $411,000. Institutional investors and hedge funds 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.