Bank of New York Mellon Corp Has $2.76 Million Position in Ranger Energy Services, Inc. (NYSE:RNGR)

Bank of New York Mellon Corp cut its holdings in Ranger Energy Services, Inc. (NYSE:RNGR) by 14.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 178,095 shares of the company’s stock after selling 30,751 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ranger Energy Services were worth $2,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RNGR. Foundry Partners LLC boosted its stake in shares of Ranger Energy Services by 10.1% in the 3rd quarter. Foundry Partners LLC now owns 450,897 shares of the company’s stock valued at $5,370,000 after purchasing an additional 41,321 shares during the last quarter. Geode Capital Management LLC boosted its position in Ranger Energy Services by 3.5% during the third quarter. Geode Capital Management LLC now owns 351,793 shares of the company’s stock valued at $4,190,000 after purchasing an additional 11,921 shares during the last quarter. State Street Corp grew its stake in shares of Ranger Energy Services by 2.5% in the third quarter. State Street Corp now owns 323,244 shares of the company’s stock valued at $3,850,000 after buying an additional 8,008 shares in the last quarter. Acuitas Investments LLC acquired a new position in shares of Ranger Energy Services during the 4th quarter worth about $2,294,000. Finally, Empowered Funds LLC raised its stake in Ranger Energy Services by 5.1% in the fourth quarter. Empowered Funds LLC now owns 130,625 shares of the company’s stock valued at $2,022,000 after buying an additional 6,381 shares during the period. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ranger Energy Services

In related news, Director Brett T. Agee sold 13,343 shares of Ranger Energy Services stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $14.52, for a total value of $193,740.36. Following the transaction, the director now directly owns 1,782,232 shares of the company’s stock, valued at $25,878,008.64. This trade represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 43,882 shares of company stock worth $639,858. Company insiders own 2.00% of the company’s stock.

Ranger Energy Services Price Performance

NYSE:RNGR opened at $14.50 on Friday. Ranger Energy Services, Inc. has a one year low of $9.27 and a one year high of $18.45. The company has a market cap of $322.65 million, a P/E ratio of 21.97 and a beta of 0.56. The firm’s fifty day moving average price is $16.50 and its two-hundred day moving average price is $14.83.

Ranger Energy Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from Ranger Energy Services’s previous quarterly dividend of $0.05. Ranger Energy Services’s dividend payout ratio (DPR) is currently 29.27%.

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.