In a recent transaction, an insider at Ranger Energy Services , Inc. (NYSE:RNGR), a company specializing in oil and gas field services, has sold a significant amount of stock. The insider, identified as Charles S. Leykum, who is both a director and a ten-percent owner of the company, sold shares totaling over $1.8 million.
The transactions took place over two days, with Leykum selling 132,000 shares at $11.08 each on March 27, 2024, and an additional 37,000 shares at $11.31 each on March 28, 2024. These sales resulted in a total of $1,881,030, with share prices ranging from $11.08 to $11.31.
Leykum's sales were conducted through CSL (OTC:CSLLY) Fund II Preferred Holdings LLC, of which he may be deemed to share voting and dispositive power due to his managing roles in related entities. Further details disclosed in the footnotes of the SEC filing indicate that CSL Energy Opportunities Fund II, L.P. and CSL Energy Holdings II, LLC are members of CSL Preferred Holdings, with CSL Energy Opportunity GP II, LLC being the general partner and managing member, respectively. Leykum, as the managing member of CSL Energy Opportunity GP II, LLC, is thus considered the indirect beneficial owner of the shares sold.
Despite the transactions, Leykum maintains a significant indirect interest in Ranger Energy Services, Inc. through his positions in these entities. It is important to note that Leykum has disclaimed beneficial ownership of the reported securities in excess of his pecuniary interest therein.
Investors and market watchers often pay close attention to insider sales and purchases as they can provide insights into the company’s performance and insider perspectives. Ranger Energy Services, Inc. has not issued any official statement regarding the transactions, and the sales represent a routine disclosure of stock market activity by a company insider.
InvestingPro Insights
Following the news of insider sales by a significant shareholder at Ranger Energy Services, Inc. (NYSE:RNGR), investors may be curious about the company's financial health and market performance. According to InvestingPro metrics, Ranger Energy Services currently boasts a market capitalization of $266.28 million. The company is trading at a low P/E ratio of 11.63, which is adjusted to 10.08 when considering the last twelve months as of Q4 2023. This suggests that the company's shares may be undervalued relative to its near-term earnings growth.
Additionally, Ranger Energy Services has demonstrated a shareholder-friendly approach, as reflected in an InvestingPro Tip that management has been aggressively buying back shares. This action is often interpreted as a signal of confidence from management in the company's future prospects. Furthermore, Ranger Energy Services offers a high shareholder yield, which is a positive sign for investors seeking returns through dividends and buybacks.
From a financial standpoint, the company has a moderate level of debt and its liquid assets exceed short-term obligations, indicating a strong liquidity position. Analysts following RNGR predict the company will be profitable this year, and it has already been profitable over the last twelve months. However, it's worth noting that the company suffers from weak gross profit margins, which stands at 16.48% for the last twelve months as of Q4 2023.
For those interested in further insights and detailed analysis, InvestingPro offers additional tips on Ranger Energy Services. There are a total of 7 InvestingPro Tips available, which can provide a deeper understanding of the company's financial situation and market potential. For a more comprehensive analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/RNGR.
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