Ranger Energy Executive Sells Over $95K in Company Stock

In a recent development, J. Matt Hooker, the Senior Vice President of Well Services at Ranger Energy Services, Inc., sold 7,803 shares of the company’s Class A Common Stock. This transaction, disclosed on September 20, 2024, totaled approximately $95,733.

The shares were sold at a weighted average price of $12.2688, with individual sales prices ranging from $11.50 to $12.46. Following this sale, Hooker’s direct ownership in the company decreased to 92,600 shares of Class A Common Stock.

Headquartered in Houston, Texas, Ranger Energy Services operates in the oil and gas field services sector, specializing in high-spec well service rigs and associated services. The recent sale by Hooker occurred through multiple transactions, and detailed information regarding the specific number of shares sold at each price point is available from the relevant regulatory authority.

Investors typically keep a close watch on insider trading activities for insights into executive perceptions regarding a company’s valuation and future prospects. However, it’s essential to recognize that there can be various motivations behind an insider’s decision to sell shares, and such actions do not inherently indicate a lack of confidence in the company’s outlook.

In other news, Ranger Energy Services reported strong financial results for Q2, with revenues reaching $138.1 million and adjusted EBITDA of $21 million. The High Specification Rig segment achieved record revenues of $82.7 million, while the Processing and Ancillary Services segment noted a 27% increase. Conversely, the Wireline segment saw a 25% decline in revenue compared to the prior quarter.

The company also repurchased approximately 1.4 million shares in 2024. Looking to the future, Ranger Energy Services remains optimistic for Q3 and is actively pursuing potential mergers and acquisitions to enhance shareholder value, along with a focus on consolidating service lines and securing more long-term contracts.

Despite the challenges faced in the Wireline segment, the High Specification Rig and Processing and Ancillary Services segments have demonstrated solid growth. Ranger Energy Services is dedicated to conducting transactions that benefit shareholders. These are the latest updates regarding the company.

As investors evaluate the recent insider trading at Ranger Energy Services, it’s important to consider the company’s financial status and market performance. The company currently has a market capitalization of around $273.67 million and a Price/Earnings (P/E) ratio of 18.55. Notably, the adjusted P/E ratio for the last twelve months is slightly lower at 17.14, suggesting a potentially attractive valuation.

Significantly, management has been actively buying back shares, which can signal confidence in the company’s future and contribute to increased shareholder value. Nonetheless, the company experiences weak gross profit margins, currently at 15.64%.

On a positive note, Ranger Energy Services has more liquid assets than short-term obligations, indicating a solid liquidity position. Additionally, the company carries a moderate level of debt, reflecting prudent financial management. Over the past three months, the company’s stock has shown a return of 19.06%, and analysts expect profitability this year, consistent with the positive performance over the last twelve months.

For investors looking for deeper analysis, there are several insights into the financials, market position, and future outlook of Ranger Energy Services that could aid in making informed investment decisions.

The estimated fair value for the company stands at $14.61, which exceeds the previous close price of $12.14, implying the stock may be undervalued, presenting an opportunity for investors. The next earnings report is set for October 24, 2024, which will be crucial for stakeholders to evaluate the company’s financial results and guidance.

This article was produced with AI assistance and reviewed by an editor.