Ranger Energy Services, Inc. (NYSE:RNGR) Plans Dividend Increase – $0.06 Per Share

Ranger Energy Services, Inc. (NYSE:RNGR) declared a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.06 per share on Friday, March 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Ranger Energy Services’s previous quarterly dividend of $0.05.

Ranger Energy Services has a dividend payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings.

Ranger Energy Services Price Performance

Shares of RNGR stock traded down $0.35 on Tuesday, hitting $15.80. 317,203 shares of the stock traded hands, compared to its average volume of 114,691. Ranger Energy Services has a 52 week low of $9.27 and a 52 week high of $18.45. The firm has a 50 day simple moving average of $16.71 and a two-hundred day simple moving average of $14.64. The firm has a market cap of $351.47 million, a price-to-earnings ratio of 23.94 and a beta of 0.55.

Insider Activity at Ranger Energy Services

In other news, Director Brett T. Agee sold 54,608 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $17.06, for a total transaction of $931,612.48. Following the transaction, the director now owns 2,059,499 shares of the company’s stock, valued at approximately $35,135,052.94. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 126,337 shares of company stock valued at $2,047,139. Insiders own 3.00% of the company’s stock.

About Ranger Energy Services

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.