Ranger Energy Services, Inc. (NYSE:RNGR) Short Interest Up 49.8% in March

Ranger Energy Services, Inc. (NYSE:RNGR) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 243,800 shares, a growth of 49.8% from the February 28th total of 162,700 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 119,700 shares, the short-interest ratio is presently 2.0 days.

Insider Activity at Ranger Energy Services

In other news, Director Brett T. Agee sold 13,343 shares of the business’s 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 transaction, the director now directly owns 1,782,232 shares of the company’s stock, valued at approximately $25,878,008.64. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 43,882 shares of company stock worth $639,858 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Ranger Energy Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its holdings in Ranger Energy Services by 5.8% in the fourth quarter. Royce & Associates LP now owns 1,038,772 shares of the company’s stock worth $16,080,000 after purchasing an additional 56,774 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Ranger Energy Services by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,034,476 shares of the company’s stock worth $16,013,000 after acquiring an additional 75,088 shares during the period. American Century Companies Inc. lifted its stake in shares of Ranger Energy Services by 12.4% during the 4th quarter. American Century Companies Inc. now owns 408,927 shares of the company’s stock worth $6,330,000 after buying an additional 45,074 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Ranger Energy Services by 1.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 377,231 shares of the company’s stock valued at $5,840,000 after buying an additional 4,381 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ranger Energy Services by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 355,976 shares of the company’s stock valued at $5,511,000 after buying an additional 4,183 shares in the last quarter. Institutional investors and hedge funds own 68.10% of the company’s stock.

Ranger Energy Services Price Performance

Shares of RNGR traded down $0.11 during midday trading on Monday, reaching $14.15. The stock had a trading volume of 100,558 shares, compared to its average volume of 109,536. 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 $314.88 million, a P/E ratio of 21.44 and a beta of 0.56. The firm’s 50 day moving average price is $16.22 and its 200-day moving average price is $14.99.

Ranger Energy Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.70%. This is a boost from Ranger Energy Services’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, March 14th. Ranger Energy Services’s dividend payout ratio 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.