Ranger Energy Services’ (NASDAQ:RNGR) quiet period will end on Wednesday, September 20th. Ranger Energy Services had issued 5,862,069 shares in its public offering on August 11th. The total size of the offering was $85,000,001 based on an initial share price of $14.50. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several research firms recently weighed in on RNGR. Capital One Financial Corporation restated an “overweight” rating and set a $17.00 target price on shares of Ranger Energy Services in a research note on Tuesday, September 12th. Howard Weil began coverage on Ranger Energy Services in a research note on Tuesday, September 5th. They set a “sector perform” rating and a $21.00 target price for the company. Evercore ISI began coverage on Ranger Energy Services in a research note on Tuesday, September 5th. They set an “outperform” rating and a $20.00 target price for the company. Barclays PLC began coverage on Ranger Energy Services in a research note on Tuesday, September 5th. They set an “equal weight” rating and a $16.00 target price for the company. Finally, Scotiabank restated a “sector perform” rating and set a $21.00 target price on shares of Ranger Energy Services in a research note on Tuesday, September 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ranger Energy Services has an average rating of “Buy” and an average price target of $18.75.
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Shares of Ranger Energy Services (NASDAQ RNGR) opened at 14.08 on Tuesday. The stock’s market cap is $118.46 million. Ranger Energy Services has a 1-year low of $13.50 and a 1-year high of $15.70. The company’s 50-day moving average price is $13.94 and its 200 day moving average price is $13.94.
In other news, Director Merrill A. Miller, Jr. bought 6,896 shares of Ranger Energy Services stock in a transaction on Wednesday, August 16th. The shares were bought at an average price of $14.50 per share, with a total value of $99,992.00. Following the acquisition, the director now directly owns 6,896 shares in the company, valued at approximately $99,992. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Energy Opportunity Gp I. L. Csl bought 612,069 shares of Ranger Energy Services stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $14.50 per share, for a total transaction of $8,875,000.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 620,005 shares of company stock valued at $8,990,073.
About Ranger Energy Services
Ranger Energy Services, Inc is an independent provider of high-specification (high-spec) well service rigs and associated services in the United States. The Company focuses on unconventional horizontal well completion and production operations. The Company operates through Well Services and Processing Solutions segment.
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