Ranger Energy Director Brett Agee sells $1.39 million worth of stock via Investing.com
HOUSTON—Brett T. Agee, director of the organization Ranger Energy Services Inc. (NYSE: ), sold shares of the company’s Class A Common Stock in transactions totaling $1.39 million, according to the latest SEC filing. The selling 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’s analysis, the company is currently undervalued.
On December 5, Agee sold 54,608 shares at an average price of $17.0602, and on December 6, he sold an additional 27,635 shares at an average price of $16.5782. Following this transaction, Agee retains indirect ownership of 2,031,864 shares through Bayou Well Holdings Company, LLC, of which it is the managing member. InvestingPro data shows the company maintains strong financial health with a current ratio of 2.0 and moderate debt levels.
These transactions reflect Agee’s ongoing management of his assets at the Houston-based oil and gas services company. Ranger Energy Services, specializing in well service rigs and related services, continues to navigate the changing energy market environment. With a market capitalization of $352 million and a financial score of “GREAT” from InvestingPro, the company has shown strong returns over multiple timeframes, including the past year and five years.
In other recent news, Ranger Energy Services showed strong financial performance in Q3 2024, despite market challenges. The company reported that revenue rose 11% quarter over quarter, to $153 million, although this was expected to be down 7% year over year. Adjusted EBITDA also saw growth, rising 20% from the previous quarter to $25.1 million.
Highlights included $86.7 million in revenue in the High Specification Rigs segment, and increased revenue in Ancillary Services, driven primarily by a 33% increase in consolidated tubing revenue. Ranger Energy also maintained a strong balance sheet, boasting total debt of $86.1 million.
In addition, the company demonstrated its commitment to shareholder returns, repurchasing $15.5 million worth of shares. Looking ahead, Ranger Energy has expressed optimism for growth in 2025, particularly within the High Specification Rigs and Ancillary Services segments, and expects stability in Wireline services. This is among the latest developments of the company.
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