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

Ranger Energy Services, Inc. (NYSE:RNGR) saw a significant growth in short interest during 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. Based on an average daily trading volume, of 119,700 shares, the short-interest ratio is presently 2.0 days. Approximately 1.1% of the shares of the company are sold short.

Insider Activity at Ranger Energy Services

In related news, Director Brett T. Agee sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $14.61, for a total transaction of $438,300.00. Following the transaction, the director now owns 1,803,539 shares in the company, valued at $26,349,704.79. This represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 43,882 shares of company stock valued at $639,858 over the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RNGR. Meeder Asset Management Inc. purchased a new stake in shares of Ranger Energy Services during the 4th quarter valued at about $26,000. Quest Partners LLC grew its position in Ranger Energy Services by 24.4% during the third quarter. Quest Partners LLC now owns 3,687 shares of the company’s stock valued at $44,000 after buying an additional 723 shares during the period. Quarry LP purchased a new stake in Ranger Energy Services during the fourth quarter valued at approximately $65,000. Deutsche Bank AG bought a new position in Ranger Energy Services in the fourth quarter worth approximately $92,000. Finally, AlphaQuest LLC boosted its stake in shares of Ranger Energy Services by 77.1% during the 4th 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. 68.10% of the stock is owned by hedge funds and other institutional investors.

Ranger Energy Services Stock Performance

Shares of NYSE RNGR traded down $0.64 during midday trading on Friday, hitting $14.26. 77,395 shares of the stock traded hands, compared to its average volume of 109,572. The firm has a market capitalization of $317.22 million, a P/E ratio of 21.60 and a beta of 0.56. Ranger Energy Services has a one year low of $9.27 and a one year high of $18.45. The firm has a 50-day moving average of $16.22 and a two-hundred day moving average of $14.99.

Ranger Energy Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.06 dividend. This is an increase from Ranger Energy Services’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.68%. Ranger Energy Services’s dividend payout ratio is currently 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.