|Over a week ago|
Ranger Energy downgraded to Equal Weight from Overweight at Barclays » 07:4503/1903/19/20
Barclays analyst J. David…
Barclays analyst J. David Anderson downgraded Ranger Energy to Equal Weight from Overweight with a $5 price target.
B. Riley FBR says be 'highly selective' in Oilfield Services, downgrades three » 08:4103/1703/17/20
PUMP, RNGR, USAC, WTTR, LBRT, SOI, AROC
B. Riley FBR analyst…
B. Riley FBR analyst Thomas Curran downgraded ProPetro Holding (PUMP), Ranger Energy (RNGR) and USA Compression (USAC) to Neutral from Buy. Despite the "historic meltdown" that has occurred in Oilfield Services stocks, investors should "remain highly selective in attempted bottom fishing," Curran tells investors in a research note. The analyst now forecasts onshore exploration and production capital expenditure declines by 41% and narrowed his top completion and production picks to just four names: Select Energy Services (WTTR), Liberty Oilfield Services (LBRT), Solaris Oilfield (SOI) and Archrock (AROC).
Ranger Energy downgraded to Neutral from Buy at B. Riley FBR » 04:4603/1703/17/20
B. Riley FBR analyst…
B. Riley FBR analyst Thomas Curran downgraded Ranger Energy Services to Neutral from Buy with a price target of $6, down from $9.
Ranger Energy receives $6.00 per share non-binding take private offer » 08:2003/1603/16/20
Ranger Energy announced…
Ranger Energy announced that it has received a non-binding offer from CSL Capital and Bayou Well, proposing to acquire all of the outstanding shares of common stock of Ranger not owned by CSL, Bayou and T. Rowe Price Associates in a cash merger transaction for $6.00 per share. The take private offer is subject to obtaining debt and equity financing, the approval of a special committee of independent directors of the board of directors of Ranger, the informed approval by the holders of a majority of the outstanding shares of Ranger not owned by CSL, Bayou and the T. Rowe Price Investors, the approval of CSL's investment committee, the approval of Bayou's board of managers and the entry into a definitive merger agreement. The offer letter indicated the take private offer may be withdrawn at any time. The board intends to form a special committee to consider the take private offer. The board expects that the special committee will retain independent advisors, including independent financial and legal advisors, to assist it in this process. CSL, Bayou and certain of their affiliates purport to beneficially own, in the aggregate, 3,189,676 shares of Class A common stock and 6,866,154 shares of Class B common stock, representing approximately 64.9% of the total shares of Class A common stock of Ranger on an as-converted basis. CSL and Bayou further represented in the letter that the T. Rowe Price Investors own an additional 1,363,569 shares of Class A common stock, representing approximately 8.8% of the total shares of Class A common atock of Ranger on an as-converted basis. Ranger cautions its stockholders and others trading in its securities that the take private offer constitutes only a preliminary proposal that does not constitute a binding commitment and that no decision has been made with respect to Ranger's response to the offer. There can be no assurance that a definitive agreement will be executed or that the transaction contemplated in the take private offer or any other transaction will be consummated.
Ranger Energy rises 31.5% » 10:0003/1303/13/20
Ranger Energy is up…
Ranger Energy is up 31.5%, or $1.35 to $5.64.
Fly Intel: Apple upgrade, drillers downgrades among top Wall Street calls » 09:4503/1303/13/20
AAPL, CTVA, FMC, LIN, SHW, MOS, VNTR, RIG, TTI, DO, NE, VAL, NINE, NCSM, APY, BKR, FTSI, HP, HFC, LBRT, NOV, OII, OIS, PTEN, PUMP, RNGR, SLB, CCL, RCL, NCLH
Check out today's top…
Drillers downgraded at Wells Fargo on recent sell off in commodity prices » 06:5603/1303/13/20
DO, NE, VAL, NINE, NCSM, TTI, APY, BKR, FTSI, HP, HFC, LBRT, NOV, OII, OIS, PTEN, PUMP, RNGR, SLB, RIG
Wells Fargo analyst…
Wells Fargo analyst Christopher Voie downgraded several stocks in the drilling space, citing the recent sell off in commodity prices and degradation in his outlook for OFS. The analyst downgraded Transocean (RIG) and Tetra Technologies (TTI) to Equal Weight from Overweight and Diamond Offshore (DO), Noble Corp (NE), Valaris (VAL), Nine Energy Service (NINE) NCS Multistage (NCSM) to Underweight from Equal Weight. Additionally, the firm lowered its price targets for Apergy (APY) to $32 from $16, for Baker Hughes (BKR) to $25 from $33, for FTS International (FTSI) to 50c from $1.75, for Helmerich & Payne (HP) to $20 from $34, for HollyFrontier (HFC) to $26 from $50, for Liberty Oilfield Services (LBRT) to $7 from $14, for National Oilwell Vargo (NOV) to $13 from $26, for Oceaneering (OII) to $5 from $14, for Oil States (OIS) to $3.50 from $11, for Patterson-UTI (PTEN) to $1.75 from $7, for ProPetro (PUMP) to $10 from $14, for Ranger Energy (RNGR) to $6 from $9, for Schlumberger (SLB) to $25 from $44 and for Transocean (RIG) to $2 from $8.
Ranger Energy downgraded to In Line from Outperform at Evercore ISI » 07:0403/0903/09/20
Evercore ISI analyst…
Evercore ISI analyst James West downgraded Ranger Energy to In Line from Outperform.
|Over a month ago|
Ranger Energy Services reports Q4 EPS (1c), consensus (1c) » 17:0102/2702/27/20
Reports Q4 revenue…
Reports Q4 revenue $80.2M, consensus $78.62M. "As we close out 2019, I would like to reflect on the strategic focus Ranger laid out early last year," said the CEO. "Our primary focus entering 2019 was cash flow generation and using that cash to further pay down the modest level of debt carried on our balance sheet. Operationally, we were seeking to drive efficiencies from the wellhead to our back-office systems and process. At the same time, driving to broaden our customer base by increasing our exposure to existing and new top-tier customers. I'm very proud of our team as they delivered on each of these initiatives throughout the year, which resulted in strong, stable performance in spite of market conditions."
|Over a quarter ago|
Fly Intel: Top five analyst upgrades » 10:0812/0312/03/19
WING, SAM, APTV, DAC, RNGR
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wingstop (WING) upgraded to Buy from Neutral at BTIG with analyst Peter Saleh saying he is positive on the company's strong concept fundamentals and looks ahead to its inaugural investment day for some "eventful developments" that may include the unveiling of new kitchen equipment that materially reduces chicken wing cook times. 2. Boston Beer (SAM) upgraded to Buy from Neutral at UBS with analyst Sean King saying he expects continued double-digit sales and earnings growth from Boston Beer in fiscal 2020 and 2021 and sees upside to 2020 shipment and depletion guidance. 3. Aptiv (APTV) upgraded to Overweight from Neutral at Piper Jaffray with analyst Alexander Potter saying relative to "plain vanilla" auto suppliers, Aptiv's growth profile has "inarguably sheltered" the company from weakening auto production. 4. Danaos (DAC) upgraded to Buy from Hold at Jefferies with analyst Randy Giveans saying Danaos recently completed a secondary offering of 9M shares, which removes an overhang. 5. Ranger Energy (RNGR) upgraded to Outperform from Neutral at Credit Suisse with analyst Jacob Lundberg saying the company's high spec service rig business looks set to outperform the service market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.