Bank of New York Mellon Corp Has $2.32 Million Position in Ranger Energy Services, Inc. (NYSE:RNGR)

Bank of New York Mellon Corp lifted its position in Ranger Energy Services, Inc. (NYSE:RNGR) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,488 shares of the company’s stock after acquiring an additional 8,798 shares during the period. Bank of New York Mellon Corp owned approximately 0.96% of Ranger Energy Services worth $2,320,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Gladius Capital Management LP acquired a new stake in Ranger Energy Services in the second quarter worth $30,000. CWM LLC raised its stake in Ranger Energy Services by 60.2% during 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 period. Victory Capital Management Inc. acquired a new stake in Ranger Energy Services during the 4th quarter worth $96,000. Quadrature Capital Ltd bought a new position in Ranger Energy Services during the fourth quarter worth about $220,000. Finally, Jump Financial LLC grew its stake in Ranger Energy Services by 172.6% in the fourth quarter. Jump Financial LLC now owns 34,304 shares of the company’s stock valued at $351,000 after acquiring an additional 21,719 shares during the period. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ranger Energy Services news, SVP J. Matt Hooker sold 7,803 shares of Ranger Energy Services stock in a transaction 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 sale, the senior vice president now directly owns 100,403 shares in the company, valued at approximately $1,196,803.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RNGR has been the topic of a number of research analyst reports. Barclays raised their price target on Ranger Energy Services from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Piper Sandler dropped their target price on shares of Ranger Energy Services from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, July 15th.

Ranger Energy Services Trading Up 1.4 %

Shares of NYSE RNGR opened at $12.00 on Tuesday. The company has a fifty day moving average price of $11.64 and a 200 day moving average price of $11.01. The firm has a market cap of $266.64 million, a PE ratio of 17.65 and a beta of 0.49. Ranger Energy Services, Inc. has a 1-year low of $9.27 and a 1-year high of $14.64.

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

Ranger Energy Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, August 9th. Ranger Energy Services’s dividend payout ratio is presently 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.