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

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 171,300 shares, a decline of 29.7% from the March 15th total of 243,800 shares. Based on an average daily volume of 119,500 shares, the short-interest ratio is presently 1.4 days. Approximately 0.8% of the company's shares are short sold.

Insider Activity

In other news, Director Brett T. Agee sold 13,343 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $14.52, for a total value of $193,740.36. Following the transaction, the director now owns 1,782,232 shares of the company's stock, valued at approximately $25,878,008.64. This trade represents a 0.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 43,882 shares of company stock valued at $639,858 in the last three months. Corporate insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Ranger Energy Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in shares of Ranger Energy Services during the fourth quarter worth $26,000. Rhumbline Advisers lifted its holdings in Ranger Energy Services by 8.5% in the 1st quarter. Rhumbline Advisers now owns 24,277 shares of the company's stock worth $344,000 after buying an additional 1,906 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Ranger Energy Services by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 9,195 shares of the company's stock worth $142,000 after buying an additional 2,003 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Ranger Energy Services by 17.2% during the fourth 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. Finally, AlphaQuest LLC increased its position in shares of Ranger Energy Services by 77.1% during the fourth quarter. AlphaQuest LLC now owns 6,529 shares of the company's stock worth $101,000 after acquiring an additional 2,842 shares during the last quarter. Hedge funds and other institutional investors own 68.10% of the company's stock.

Ranger Energy Services Trading Down 2.3 %

NYSE:RNGR traded down $0.29 during mid-day trading on Wednesday, hitting $12.15. The company had a trading volume of 80,449 shares, compared to its average volume of 109,790. The business has a fifty day simple moving average of $14.35 and a 200-day simple moving average of $15.00. The firm has a market capitalization of $270.37 million, a price-to-earnings ratio of 18.41 and a beta of 0.27. Ranger Energy Services has a 1 year low of $9.27 and a 1 year high of $18.45.

Ranger Energy Services Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Ranger Energy Services's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.98%. Ranger Energy Services's payout ratio 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.