B.Riley FBR Reaffirms Their Buy Rating on Ranger Energy Services Inc (RNGR)

By Austin Angelo

In a report released today, Tom Curran from B.Riley FBR maintained a Buy rating on Ranger Energy Services Inc (RNGRResearch Report), with a price target of $10. The company’s shares opened today at $6.28.

Curran said:

“After the close on 3/5, Ranger Energy (RNGR) reported 4Q18 earnings results that beat consensus’ estimates at both the top and bottom lines. The company reported revenue, adjusted $0.11, versus consensus of $79.9M, $10.5M, and $0.10, and our $82.8M, $10.8M, and $0.12. The solid results are mainly attributable to higher average hourly high-spec rig rates, an increase in wireline activity, and a rise in Processing Solutions revenue, demonstrating the diversity and strength of RNGR’s portfolio. The Processing Solutions segment’s revenue increased by 58%, or $2.3M, due to higher pricing, two additional units placed into service, and an increase in installation revenue.”

According to TipRanks.com, Curran has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.0% and a 37.6% success rate. Curran covers the Basic Materials sector, focusing on stocks such as Select Energy Services Inc, Tetra Technologies, and Forum Energy Tech.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ranger Energy Services Inc with a $9.50 average price target.

See today’s analyst top recommended stocks >>

Based on Ranger Energy Services Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $2.1 million. In comparison, last year the company had a GAAP net loss of $3.1 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RNGR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ranger Energy Services, Inc. is a holding company, which engages in the provision of services in the oil and gas industry. It operates through two segments: Well Services and Processing Solutions. The Well Services segment includes well completion, work over, maintenance, and decommissioning solutions.