HOUSTON—Brett T. Agee, a director at Ranger Energy Services , Inc. (NYSE:RNGR), a $331 million market cap energy services company that has seen its stock surge over 55% in the past six months, sold 19,209 shares of Class A Common Stock, according to a recent SEC filing. According to InvestingPro analysis, the company maintains a GREAT financial health score, with management actively pursuing share buybacks. The shares were sold at a weighted average price of approximately $15.30, generating a total of $293,834. Following this transaction, Agee indirectly owns 1,843,999 shares through Bayou Well Holdings Company, LLC. Agee disclaims beneficial ownership of these shares except to the extent of his pecuniary interest. Discover more insights about RNGR with InvestingPro, which offers 8 additional ProTips and a comprehensive Pro Research Report analyzing the company's fundamentals and growth prospects.
In other recent news, Ranger Energy Services reported a solid performance in Q3 of 2024 despite a challenging market environment. The company reported an 11% quarter-over-quarter increase in revenues to $153 million, although this represented a 7% decline year-over-year. Adjusted EBITDA rose by 20% from the previous quarter to $25.1 million. The High Specification Rigs segment achieved a record revenue of $86.7 million, and Ancillary Services saw a significant revenue boost, primarily due to a 33% increase in coiled tubing revenues.
Ranger Energy also emphasized its strong balance sheet, with zero net debt and $86.1 million in liquidity, and its commitment to shareholder returns, having repurchased $15.5 million in shares. The company expressed optimism about growth in 2025, especially in High Specification Rigs and Ancillary Services, and expects to see stabilization in Wireline services. These are the recent developments for Ranger Energy Services, as the company navigates through the market challenges and sets its sights on future growth.
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