Ranger Energy Services, Inc. (NYSE:RNGR) Increases Dividend to $0.06 Per Share

Ranger Energy Services, Inc. (NYSE:RNGR) declared a quarterly dividend on Monday, March 3rd, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.06 per share on Friday, March 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, March 14th. This is a boost from Ranger Energy Services’s previous quarterly dividend of $0.05.

Ranger Energy Services has a dividend payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings.

Ranger Energy Services Stock Performance

RNGR traded down $0.35 during mid-day trading on Tuesday, reaching $15.80. The stock had a trading volume of 317,203 shares, compared to its average volume of 114,691. The firm’s fifty day simple moving average is $16.71 and its two-hundred day simple moving average is $14.64. The stock has a market capitalization of $351.47 million, a P/E ratio of 23.94 and a beta of 0.55. Ranger Energy Services has a 52 week low of $9.27 and a 52 week high of $18.45.

Insider Buying and Selling

In other news, Director Brett T. Agee sold 19,209 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.30, for a total transaction of $293,897.70. Following the completion of the transaction, the director now directly owns 1,843,999 shares of the company’s stock, valued at $28,213,184.70. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 126,337 shares of company stock valued at $2,047,139. 3.00% of the stock is owned by company insiders.

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.