Ranger Energy Services , Inc. (NYSE:RNGR) has reached an all-time high, with its stock price soaring to $16.13. This milestone reflects a significant uptrend for the company, which has seen an impressive 58.94% increase over the past year. Investors have shown growing confidence in Ranger Energy Services, as the company continues to capitalize on the robust demand within the energy sector. The all-time high represents a notable achievement for RNGR, marking a period of strong performance and heightened investor interest.
In other recent news, Ranger Energy Services reported robust Q3 results despite a challenging market landscape. The company announced an 11% quarter-over-quarter increase in revenues, reaching $153 million, although it faced a 7% decline year-over-year. The company's Adjusted EBITDA also saw a 20% rise from the previous quarter, reaching $25.1 million. The High Specification Rigs segment and Ancillary Services were noteworthy, with the former achieving record revenues of $86.7 million and the latter seeing a significant boost due to a 33% increase in coiled tubing revenues.
Ranger Energy also emphasized its solid balance sheet, with no net debt and substantial liquidity of $86.1 million. The company returned over 80% of its free cash flow to shareholders through dividends and share repurchases, with a total repurchase of $15.5 million in shares. Looking ahead, Ranger Energy expressed confidence in its growth prospects for 2025, particularly in the High Specification Rigs and Ancillary Services sectors, and anticipates stabilization in Wireline services. These developments underscore Ranger Energy's resilience and strategic focus on high-margin service lines amid market challenges.
InvestingPro Insights
Ranger Energy Services' (RNGR) recent all-time high of $16.13 is further supported by InvestingPro data, which shows the stock trading at 99.61% of its 52-week high. This impressive performance is underscored by strong returns across multiple timeframes, with a 28.96% gain in the past month and a 51.14% increase over the last six months.
InvestingPro Tips highlight that management has been aggressively buying back shares, which often signals confidence in the company's future prospects. Additionally, the stock generally trades with low price volatility, potentially appealing to investors seeking stability in the volatile energy sector.
Despite the recent surge, InvestingPro's fair value estimate of $17.56 suggests there may still be room for growth. Investors considering RNGR should note that InvestingPro offers 11 additional tips for a more comprehensive analysis of the company's potential.
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