Ranger Energy Services, Inc. (NYSE:RNGR) Sees Significant Increase in Short Interest

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) saw a large increase in short interest in the month of 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. Based on an average daily trading volume, of 119,700 shares, the short-interest ratio is currently 2.0 days. Approximately 1.1% of the shares of the company are short sold.

Ranger Energy Services Stock Performance

NYSE RNGR traded down $1.27 on Thursday, hitting $13.21. The stock had a trading volume of 115,328 shares, compared to its average volume of 108,943. The firm has a 50-day moving average of $15.93 and a 200-day moving average of $15.00. Ranger Energy Services has a 52-week low of $9.27 and a 52-week high of $18.45. The company has a market capitalization of $294.05 million, a price-to-earnings ratio of 20.02 and a beta of 0.27.

Ranger Energy Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.06 per share. This is a positive change from Ranger Energy Services's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.24 annualized dividend and a yield of 1.82%. Ranger Energy Services's dividend payout ratio (DPR) is currently 29.27%.

Insider Buying and Selling

In other news, Director Brett T. Agee sold 13,343 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $14.52, for a total value of $193,740.36. Following the sale, the director now directly owns 1,782,232 shares of the company's stock, valued at approximately $25,878,008.64. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 43,882 shares of company stock valued at $639,858. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Ranger Energy Services

Institutional investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. bought a new stake in shares of Ranger Energy Services during the 4th quarter valued at about $3,756,000. Acuitas Investments LLC bought a new stake in Ranger Energy Services during the fourth quarter valued at approximately $2,294,000. Prudential Financial Inc. lifted its position in Ranger Energy Services by 102.4% during the fourth quarter. Prudential Financial Inc. now owns 219,222 shares of the company's stock valued at $3,394,000 after purchasing an additional 110,907 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Ranger Energy Services by 54.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 288,805 shares of the company's stock worth $4,471,000 after buying an additional 102,313 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new position in shares of Ranger Energy Services in the 4th quarter worth $1,570,000. 68.10% of the stock is currently owned by institutional investors.

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.