HOUSTON—Brett T. Agee, a director at Ranger Energy Services , Inc. (NYSE:), sold shares of the company’s Class A Common Stock in transactions totaling approximately $1.39 million, according to a recent SEC filing. The sales occurred over two days, with prices ranging from $16.5782 to $17.0602 per share, near the stock’s 52-week high of $17.20. According to InvestingPro analysis, the company is currently slightly undervalued.
On December 5, Agee sold 54,608 shares at a weighted average price of $17.0602, while on December 6, he sold an additional 27,635 shares at a weighted average price of $16.5782. Following these transactions, Agee retains indirect ownership of 2,031,864 shares through Bayou Well Holdings Company, LLC, where he is a managing member. InvestingPro data shows the company maintains strong financial health with a current ratio of 2.0 and moderate debt levels.
The transactions reflect Agee’s ongoing management of his holdings in the Houston-based oil and gas field services company. Ranger Energy Services, which specializes in well service rigs and related services, continues to navigate the fluctuating energy market landscape. With a market capitalization of $352 million and an “GREAT” financial health score from InvestingPro, the company has demonstrated strong returns over multiple timeframes, including the past year and five years.
In other recent news, Ranger Energy Services showcased a resilient financial performance in Q3 of 2024, despite market challenges. The company reported an 11% quarter-over-quarter increase in revenues, reaching $153 million, although this represented a 7% decline year-over-year. Adjusted EBITDA also saw a boost, rising 20% from the previous quarter to $25.1 million.
Major highlights included record revenue of $86.7 million in the High Specification Rigs segment, along with a significant revenue increase in Ancillary Services, primarily driven by a 33% rise in coiled tubing revenues. Ranger Energy also maintained a strong balance sheet, boasting zero net debt and $86.1 million in liquidity.
Furthermore, the company demonstrated its commitment to shareholder returns, repurchasing $15.5 million in shares. Looking ahead, Ranger Energy expressed optimism about growth in 2025, especially within the High Specification Rigs and Ancillary Services segments, and anticipates stabilization in Wireline services. These are among the recent developments for the company.
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