In a report released yesterday, Tom Curran from B.Riley FBR maintained a Hold rating on Ranger Energy Services (RNGR), with a price target of $6.00. The company’s shares closed last Thursday at $4.21.
According to TipRanks.com, Curran ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -19.1% and a 30.7% success rate. Curran covers the Services sector, focusing on stocks such as Solaris Oilfield Infrastructure, Independence Contract Drilling, and Liberty Oilfield Services.
The word on The Street in general, suggests a Hold analyst consensus rating for Ranger Energy Services with a $6.50 average price target, implying a 62.5% upside from current levels. In a report issued on April 15, Piper Sandler also downgraded the stock to Hold with a $6.00 price target.
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Based on Ranger Energy Services’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $80.2 million and GAAP net loss of $700K. In comparison, last year the company earned revenue of $85.3 million and had a net profit of $1 million.
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Ranger Energy Services, Inc. engages in the provision of service rigs and associated services. It operate through the following segments: High Specification Rigs; Completion and Other Services; and Processing Solutions. The High Specification Rig segment provides service rigs and complementary equipment and services. The Completion and Other Services segment consists of wireline and snubbing lines of business. The Processing Solutions segment is involved in rental, installation, commissioning, start-up, operation and maintenance of mechanical refrigeration units, natural gas liquid (NGL) stabilizer units, NGL storage units, and related equipment. The company was founded in February 2017 and is headquartered in Houston, TX.
