Ranger Energy Services, Inc. (NYSE:RNGR) Short Interest Up 49.8% in March

Ranger Energy Services, Inc. (NYSE:RNGR) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 243,800 shares, an increase of 49.8% from the February 28th total of 162,700 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average trading volume of 119,700 shares, the days-to-cover ratio is currently 2.0 days.

Insider Buying and Selling at Ranger Energy Services

In other Ranger Energy Services news, Director Brett T. Agee sold 30,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $14.61, for a total transaction of $438,300.00. Following the completion of the transaction, the director now owns 1,803,539 shares of the company’s stock, valued at approximately $26,349,704.79. This trade represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 43,882 shares of company stock valued at $639,858. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in shares of Ranger Energy Services during the fourth quarter valued at $26,000. Quest Partners LLC grew its position in 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 purchasing an additional 723 shares during the last quarter. Quarry LP bought a new stake in Ranger Energy Services during the 4th quarter valued at about $65,000. Deutsche Bank AG purchased a new position in Ranger Energy Services in the fourth quarter worth about $92,000. Finally, AlphaQuest LLC lifted its stake in shares of Ranger Energy Services by 77.1% in the fourth quarter. AlphaQuest LLC now owns 6,529 shares of the company’s stock worth $101,000 after buying an additional 2,842 shares in the last quarter. Hedge funds and other institutional investors own 68.10% of the company’s stock.

Ranger Energy Services Price Performance

NYSE RNGR traded down $0.64 during trading hours on Friday, reaching $14.26. 77,395 shares of the company’s stock traded hands, compared to its average volume of 109,572. Ranger Energy Services has a 52-week low of $9.27 and a 52-week high of $18.45. The firm has a 50-day simple moving average of $16.22 and a 200 day simple moving average of $14.99. The firm has a market cap of $317.22 million, a PE ratio of 21.60 and a beta of 0.56.

Ranger Energy Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Friday, March 14th. This is a positive change from Ranger Energy Services’s previous quarterly dividend of $0.05. Ranger Energy Services’s dividend payout ratio (DPR) is 29.27%.

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.