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HOUSTON—Brett T. Agee, a director at Ranger Vitality Providers , Inc. (NYSE:RNGR), bought shares of the corporate’s Class A Widespread Inventory in transactions totaling roughly $1.39 million, based on a latest SEC submitting. The gross sales occurred over two days, with costs starting from $16.5782 to $17.0602 per share, close to the inventory’s 52-week excessive of $17.20. In line with InvestingPro evaluation, the corporate is at present barely undervalued.
On December 5, Agee bought 54,608 shares at a weighted common worth of $17.0602, whereas on December 6, he bought an extra 27,635 shares at a weighted common worth of $16.5782. Following these transactions, Agee retains oblique possession of two,031,864 shares by way of Bayou Properly Holdings Firm, LLC, the place he’s a managing member. InvestingPro information reveals the corporate maintains robust monetary well being with a present ratio of two.0 and reasonable debt ranges.
The transactions mirror Agee’s ongoing administration of his holdings within the Houston-based oil and gasoline area providers firm. Ranger Vitality Providers, which focuses on properly service rigs and associated providers, continues to navigate the fluctuating vitality market panorama. With a market capitalization of $352 million and an “GREAT” monetary well being rating from InvestingPro, the corporate has demonstrated robust returns over a number of timeframes, together with the previous 12 months and 5 years.
In different latest information, Ranger Vitality Providers showcased a resilient monetary efficiency in Q3 of 2024, regardless of market challenges. The corporate reported an 11% quarter-over-quarter enhance in revenues, reaching $153 million, though this represented a 7% decline year-over-year. Adjusted EBITDA additionally noticed a lift, rising 20% from the earlier quarter to $25.1 million.
Main highlights included report income of $86.7 million within the Excessive Specification Rigs phase, together with a big income enhance in Ancillary Providers, primarily pushed by a 33% rise in coiled tubing revenues. Ranger Vitality additionally maintained a powerful stability sheet, boasting zero internet debt and $86.1 million in liquidity.
Moreover, the corporate demonstrated its dedication to shareholder returns, repurchasing $15.5 million in shares. Trying forward, Ranger Vitality expressed optimism about progress in 2025, particularly inside the Excessive Specification Rigs and Ancillary Providers segments, and anticipates stabilization in Wireline providers. These are among the many latest developments for the corporate.
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