In a remarkable display of market confidence, Ranger Energy Services , Inc. (NYSE:RNGR) stock soared to an all-time high, reaching a price level of $17.23. With a market capitalization of $382 million and an "GREAT" financial health score according to InvestingPro, the company shows strong fundamental positioning. This peak comes as a testament to the company's strong performance and investor optimism. Over the past year, Ranger Energy Services has witnessed an impressive 1-year change, with its stock value surging by 76%. InvestingPro analysis indicates the stock is currently fairly valued, with management actively buying back shares. The company's ascent to this record price reflects a significant turnaround and robust growth, capturing the attention of investors and industry analysts alike. As Ranger Energy Services continues to capitalize on favorable market conditions, stakeholders are closely monitoring whether the stock can sustain its upward trajectory in the face of evolving industry dynamics. InvestingPro subscribers have access to 12 additional key insights about RNGR's performance and outlook.
In other recent news, Ranger Energy Services posted impressive Q3 results amidst a challenging market environment. The company announced an 11% quarter-over-quarter revenue increase to $153 million, despite a 7% decline year-over-year. Adjusted EBITDA also saw a rise, increasing by 20% from the previous quarter to $25.1 million. The High Specification Rigs segment reported record revenue of $86.7 million, and the Ancillary Services segment saw a significant boost, largely due to a 33% increase in coiled tubing revenues.
Ranger Energy also showcased its robust balance sheet, with no net debt and $86.1 million in liquidity, and demonstrated its commitment to shareholder returns by repurchasing $15.5 million in shares. Looking ahead, the company expressed optimism about growth in 2025, particularly in the High Specification Rigs and Ancillary Services sectors, and anticipates stabilization in Wireline services. Despite year-over-year revenue decline, these recent developments highlight Ranger Energy's resilience and strategic focus on high-margin service lines.
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