HOUSTON – Ranger Energy Services , Inc. (NYSE:RNGR) saw a notable transaction from one of its insiders, as reported in a recent filing with the Securities and Exchange Commission. On March 20, 2024, a sale of 6,000 shares of Class A common stock was executed at a price of $11.64 per share, totaling $69,840.
The transaction was linked to CSL (OTC:CSLLY) Fund II Preferred Holdings LLC, a related entity of Ranger Energy Services. According to the footnotes in the filing, CSL Fund II Preferred Holdings LLC is associated with other entities and individuals who may have indirect beneficial ownership of the shares sold. Specifically, CSL Energy Opportunities Fund II, L.P. and CSL Energy Holdings II, LLC are members of CSL Preferred Holdings. Additionally, CSL Energy Opportunity GP II, LLC, for which Charles S. Leykum serves as the managing member, is the general partner and managing member of these entities, respectively.
Charles S. Leykum, who also has a direct relationship with the company as a director and a ten percent owner, may be deemed to share voting and dispositive power over the shares held by CSL Preferred Holdings due to his managing role. However, both CSL Energy Opportunity GP II, LLC and Mr. Leykum have disclaimed beneficial ownership of the reported securities beyond their pecuniary interest.
The shares owned following the transaction by CSL Preferred Holdings amount to 3,994,000, indicating a substantial holding even after the sale. Additionally, another holding of 1,816 shares is attributed to CSL Energy Opportunity GP I, LLC, where Mr. Leykum is also the managing member.
Investors and market watchers often pay close attention to insider transactions as they provide insights into the perspectives of those with an intimate knowledge of the company. The sale reported in this filing will likely be of interest to those following Ranger Energy Services' stock and its corporate activities.
Ranger Energy Services, Inc. is a Houston-based company specializing in oil and gas field services and operates under the Industrial sector, specifically within the Oil, Gas Field Services, NBC industry.
The filings were signed by Charles S. Leykum on March 21, 2024, affirming the accuracy of the reported transactions.
InvestingPro Insights
Amidst the recent insider transaction at Ranger Energy Services, Inc. (NYSE:RNGR), the company's financial health and market performance continue to draw attention. According to InvestingPro data, Ranger Energy Services boasts a market capitalization of $267.42 million and trades at a price-to-earnings (P/E) ratio of 12.26, reflecting investor sentiment on its earnings capacity. Notably, when adjusted for the last twelve months as of Q4 2023, the P/E ratio stands at an even more attractive 10.13.
InvestingPro Tips highlight that management has been actively engaged in share buybacks, a move that may indicate confidence in the company's future prospects. Additionally, Ranger Energy Services is recognized for its high shareholder yield and is trading at a low P/E ratio relative to near-term earnings growth, suggesting potential value for investors. With a PEG ratio of just 0.24 for the same period, the company's growth rate is factored into its earnings at a rate that could be appealing for those looking for growth at a reasonable price.
Moreover, the company's gross profit margin for the last twelve months as of Q4 2023 was reported at 16.48%, which, while not robust, is balanced by the fact that liquid assets exceed short-term obligations, indicating a solid liquidity position. With a moderate level of debt, the company operates with financial stability that could reassure investors. Over the last month, the stock has shown a strong return, with a 15.16% increase. Analysts have also predicted profitability for the company this year, adding to the positive outlook.
For those interested in a deeper dive into Ranger Energy Services' performance and strategic moves, InvestingPro offers additional insights and metrics. There are a total of 9 InvestingPro Tips available for RNGR at https://www.investing.com/pro/RNGR. For a limited time, readers can use the coupon code PRONEWS24 to receive an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable analysis and data to inform investment decisions.
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