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

Ranger Energy Services, Inc. (NYSE:RNGR - Get Free Report) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 162,700 shares, a drop of 17.0% from the February 13th total of 196,100 shares. Currently, 0.8% of the company's shares are short sold. Based on an average daily volume of 133,000 shares, the short-interest ratio is presently 1.2 days.

Ranger Energy Services Stock Performance

Shares of NYSE:RNGR traded down $0.33 during midday trading on Friday, reaching $14.17. The company's stock had a trading volume of 302,823 shares, compared to its average volume of 110,665. Ranger Energy Services has a fifty-two week low of $9.27 and a fifty-two week high of $18.45. The firm has a 50 day moving average price of $16.47 and a two-hundred day moving average price of $14.84. The firm has a market capitalization of $315.33 million, a price-to-earnings ratio of 21.47 and a beta of 0.56.

Ranger Energy Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Ranger Energy Services's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, March 14th. Ranger Energy Services's dividend payout ratio is presently 29.27%.

Insider Buying and Selling

In other news, Director Brett T. Agee sold 13,343 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $14.52, for a total transaction of $193,740.36. Following the completion of the sale, the director now directly owns 1,782,232 shares in the company, valued at $25,878,008.64. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 43,882 shares of company stock valued at $639,858 in the last three months. Insiders own 2.00% of the company's stock.

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Institutional Trading of Ranger Energy Services

Several large investors have recently modified their holdings of RNGR. Meeder Asset Management Inc. bought a new position in Ranger Energy Services during the fourth quarter worth $26,000. Quest Partners LLC boosted its position in shares of Ranger Energy Services by 24.4% during the 3rd quarter. Quest Partners LLC now owns 3,687 shares of the company's stock worth $44,000 after purchasing an additional 723 shares in the last quarter. Quarry LP acquired a new stake in shares of Ranger Energy Services in the 4th quarter valued at about $65,000. Deutsche Bank AG bought a new stake in Ranger Energy Services in the 4th quarter valued at about $92,000. Finally, AlphaQuest LLC increased its position in Ranger Energy Services by 77.1% in the 4th quarter. AlphaQuest LLC now owns 6,529 shares of the company's stock valued at $101,000 after buying an additional 2,842 shares in the last quarter. Institutional investors and hedge funds own 68.10% of the company's stock.

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.