Brett T. Agee, a director and ten percent owner at Ranger Energy Services , Inc. (NYSE:RNGR), sold shares valued at approximately $2.81 million, according to a recent SEC filing. The transactions involved selling a total of 167,952 shares of Class A Common Stock at prices ranging from $16.6754 to $16.8033 per share. Following these sales, Agee holds 2,446,155 shares indirectly through Bayou Well Holdings Company, LLC. The transactions were executed on November 21 and November 25.
In other recent news, Ranger Energy Services posted robust Q3 results, despite a challenging market environment. The company reported an 11% increase in revenues to $153 million from the previous quarter, though there was 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, while Ancillary Services saw a significant revenue boost, primarily due to a 33% increase in coiled tubing revenues.
Ranger Energy also highlighted 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 is optimistic about growth in 2025, particularly in High Specification Rigs and Ancillary Services, and expects to see stabilization in Wireline services. These are among the recent developments at Ranger Energy Services.
InvestingPro Insights
The recent insider sale by Brett T. Agee at Ranger Energy Services, Inc. (NYSE:RNGR) comes at a time when the company's stock is showing strong performance. According to InvestingPro data, RNGR has seen impressive price returns, with a 34.26% gain over the past month and a 60.17% increase over the last six months. The stock is currently trading near its 52-week high, with the price at 96.24% of its peak.
Despite the insider sale, InvestingPro Tips highlight that management has been aggressively buying back shares, which could signal confidence in the company's future prospects. This buyback activity may help support the stock price and potentially offset any negative sentiment from insider sales.
Investors should note that RNGR operates with a moderate level of debt and its liquid assets exceed short-term obligations, suggesting a stable financial position. The company's P/E ratio of 25.79 indicates that investors are willing to pay a premium for its earnings, possibly due to growth expectations.
For those interested in a deeper analysis, InvestingPro offers 12 additional tips for Ranger Energy Services, providing a more comprehensive view of the company's financial health and market position.
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