Ranger Energy Services (NYSE:RNGR) Given New $9.00 Price Target at Wells Fargo & Co

Ranger Energy Services (NYSE:RNGR) had its price objective cut by Wells Fargo & Co from $10.00 to $9.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the stock.

RNGR has been the topic of several other reports. Zacks Investment Research cut shares of Ranger Energy Services from a hold rating to a sell rating in a report on Friday, September 6th. ValuEngine upgraded shares of Ranger Energy Services from a strong sell rating to a sell rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $9.96.

RNGR traded down $0.08 during trading on Thursday, hitting $6.51. The company had a trading volume of 1,856 shares, compared to its average volume of 6,279. The company has a market cap of $102.07 million, a PE ratio of 14.49 and a beta of 3.27. The business has a 50-day moving average of $6.38 and a 200-day moving average of $7.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 1.13. Ranger Energy Services has a 1-year low of $4.70 and a 1-year high of $8.76.

Ranger Energy Services (NYSE:RNGR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.12). The company had revenue of $84.30 million during the quarter, compared to analyst estimates of $91.73 million. Ranger Energy Services had a net margin of 1.79% and a return on equity of 3.13%. Research analysts forecast that Ranger Energy Services will post 0.71 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in RNGR. Private Capital Group LLC bought a new stake in Ranger Energy Services during the second quarter valued at $32,000. Royal Bank of Canada increased its stake in Ranger Energy Services by 250,000.0% during the second quarter. Royal Bank of Canada now owns 7,503 shares of the company’s stock valued at $60,000 after purchasing an additional 7,500 shares during the last quarter. BlackRock Inc. increased its stake in Ranger Energy Services by 15.5% during the second quarter. BlackRock Inc. now owns 14,358 shares of the company’s stock valued at $115,000 after purchasing an additional 1,928 shares during the last quarter. Finally, Creative Planning bought a new stake in Ranger Energy Services during the second quarter valued at $132,000. Hedge funds and other institutional investors own 26.76% of the company’s stock.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc provides well service rigs and related services in the United States. It operates through three segments: High Specification Rigs, Completion and Other Services, and Processing Solutions. The company offers well completion support services, such as milling out composite plugs used during hydraulic fracturing, wireline, and snubbing services; workover services, including retrieval and replacement of existing production tubing; well maintenance services comprising replacement of downhole artificial lift components; and decommissioning services consisting of plugging and abandonment services.

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Analyst Recommendations for Ranger Energy Services (NYSE:RNGR)

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