ROCC - Ranger Oil announces $100M stock buyback plan

Ranger Oil Corporation (NASDAQ:ROCC) has reduced its leverage to its previously stated target, and its board has authorized to repurchase up to $100M of its outstanding Class A common stock. As of March 31, 2022, Ranger had a net debt balance of ~$521.6M, down ~$64.9M (11%) from its net debt balance as of December 31, 2021. The board The share repurchase authorization is effective immediately and valid through March 31, 2023. The program is equivalent to ~6% of Ranger's current market capitalization. The Company intends to fund repurchases from available working capital and cash provided by operating activities.

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Ranger Oil announces $100M stock buyback plan