Ranger Oil boosts share buyback program to $140M from $100M

• Ranger Oil Corporation (NASDAQ:ROCC) has increased its share repurchase program.
• The company's board authorized an increase in the share repurchase program from $100 million to $140 million, effectively reloading the capacity in the program for amounts repurchased to date.
• In addition, the board extended the term of the program by one quarter through June 30, 2023.
• Since early May 2022, the company has repurchased more than $40M of its Class A common stock, representing more than 2.5% of total common stock outstanding.
• The program is equivalent to ~9.8% of Ranger's current market capitalization.
• The company also initiated $0.075 quarterly dividend.