Brett T. Agee, a director at Ranger Energy Services , Inc. (NYSE:RNGR), recently sold shares of the company's Class A common stock. The company, currently valued at $341.58 million, has shown remarkable strength with a 58.44% price return over the past six months and maintains a "GREAT" financial health score according to InvestingPro analysis. According to a recent SEC filing, Agee disposed of 30,791 shares on December 12, 2024, at an average price of approximately $15.52 per share. This transaction yielded a total value of about $477,774. The sale occurred with the stock trading near its 52-week high of $17.20, though InvestingPro's Fair Value analysis suggests the stock may still be slightly undervalued.
Following this sale, Agee, who is a managing member of Bayou Well Holdings Company, LLC, retains indirect ownership of 1,863,208 shares through the LLC. Agee has disclaimed beneficial ownership of these shares except to the extent of his pecuniary interest. For deeper insights into insider trading patterns and comprehensive analysis, investors can access the full Pro Research Report available on InvestingPro, which covers this and over 1,400 other US stocks.
In other recent news, Ranger Energy Services has showcased a robust financial performance in its third quarter of 2024, despite facing a challenging market environment. The company reported an 11% quarter-over-quarter increase in revenues, reaching $153 million, although this marked a 7% decline from the previous year. The adjusted EBITDA also saw a significant rise, up by 20% from the last quarter to $25.1 million.
The High Specification Rigs segment of the company recorded a revenue high of $86.7 million, while the Ancillary Services segment saw a substantial revenue boost, largely due to a 33% increase in coiled tubing revenues. The company's strong balance sheet was also highlighted, showing zero net debt and $86.1 million in liquidity. Ranger Energy also demonstrated its commitment to shareholder returns by repurchasing $15.5 million in shares.
Looking forward, Ranger Energy expressed optimism about potential growth in 2025, particularly in the High Specification Rigs and Ancillary Services segments. The company also anticipates stabilization in Wireline services. These recent developments underscore the company's resilience in navigating market challenges and its strategic focus on high-margin service lines.
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