Following these transactions, Agee's indirect ownership, held through Bayou Well Holdings Company, LLC, stands at 1,893,999 shares. Agee maintains voting and dispositive power over these shares but disclaims beneficial ownership beyond his pecuniary interest. With a market capitalization of $350.14 million and an overall GREAT financial health score, InvestingPro analysis suggests Ranger Energy is currently trading below its Fair Value, making it one of several undervalued opportunities in the market. With a market capitalization of $350.14 million and an overall GREAT financial health score, InvestingPro analysis suggests Ranger Energy is currently trading below its Fair Value, making it one of several undervalued opportunities in the market.
Following these transactions, Agee's indirect ownership, held through Bayou Well Holdings Company, LLC, stands at 1,893,999 shares. Agee maintains voting and dispositive power over these shares but disclaims beneficial ownership beyond his pecuniary interest.
In other recent news, Ranger Energy Services (NYSE:RNGR) posted a robust financial performance for the third quarter of 2024, despite a challenging market environment. The company reported an 11% quarter-over-quarter increase in revenues to $153 million, although this represented a 7% year-over-year decline. Adjusted EBITDA rose by 20% from the previous quarter to $25.1 million.
The High Specification Rigs segment achieved a record revenue of $86.7 million, while the Ancillary Services segment saw a significant revenue boost, primarily due to a 33% increase in coiled tubing revenues. Furthermore, the company maintained a strong balance sheet, with zero net debt and an impressive $86.1 million in liquidity.
Ranger Energy also emphasized its commitment to shareholder returns, having repurchased $15.5 million in shares. Management expressed optimism about growth in 2025, particularly in the High Specification Rigs and Ancillary Services segments, and expects stabilization in Wireline services. These are among the recent developments for Ranger Energy Services, as the company navigates its way through the current market conditions.
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