Franklin Resources Inc. Sells 54,200 Shares of Ranger Energy Services, Inc. (NYSE:RNGR)

Franklin Resources Inc. lowered its position in Ranger Energy Services, Inc. (NYSE:RNGR - Free Report) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,500 shares of the company's stock after selling 54,200 shares during the quarter. Franklin Resources Inc. owned approximately 1.53% of Ranger Energy Services worth $5,255,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Ranger Energy Services during the 4th quarter worth about $26,000. AlphaQuest LLC lifted its stake in Ranger Energy Services by 77.1% in the fourth quarter. AlphaQuest LLC now owns 6,529 shares of the company's stock valued at $101,000 after buying an additional 2,842 shares during the period. Quantbot Technologies LP bought a new stake in shares of Ranger Energy Services in the fourth quarter worth about $103,000. Globeflex Capital L P acquired a new position in shares of Ranger Energy Services during the fourth quarter worth about $115,000. Finally, SG Americas Securities LLC grew its holdings in shares of Ranger Energy Services by 17.2% in the 4th quarter. SG Americas Securities LLC now owns 14,417 shares of the company's stock valued at $223,000 after acquiring an additional 2,114 shares in the last quarter. 68.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Brett T. Agee sold 13,343 shares of Ranger Energy Services stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $14.52, for a total value of $193,740.36. Following the transaction, the director now directly owns 1,782,232 shares of the company's stock, valued at $25,878,008.64. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 43,882 shares of company stock worth $639,858. Corporate insiders own 3.00% of the company's stock.

Ranger Energy Services Stock Performance

RNGR traded up $0.29 during trading hours on Wednesday, reaching $12.47. The company's stock had a trading volume of 5,975 shares, compared to its average volume of 109,994. The company's 50-day moving average is $14.94 and its 200-day moving average is $15.00. The firm has a market cap of $277.49 million, a PE ratio of 18.89 and a beta of 0.27. Ranger Energy Services, Inc. has a 52 week low of $9.27 and a 52 week high of $18.45.

Ranger Energy Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.92%. This is a boost from Ranger Energy Services's previous quarterly dividend of $0.05. The ex-dividend date was Friday, March 14th. Ranger Energy Services's dividend payout ratio (DPR) is 29.27%.

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.