Ring Energy (NYSEAMERICAN:REI) Issues Quarterly Earnings Results

by · The Cerbat Gem

Ring Energy (NYSEAMERICAN:REI – Get Free Report) released its earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09), FiscalAI reports. Ring Energy had a negative net margin of 5.01% and a positive return on equity of 6.07%. The company had revenue of $66.88 million during the quarter, compared to analysts’ expectations of $71.35 million.

Ring Energy Stock Performance

NYSEAMERICAN REI traded up $0.03 on Wednesday, reaching $1.50. 7,612,590 shares of the stock were exchanged, compared to its average volume of 3,763,757. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 0.51. Ring Energy has a one year low of $0.72 and a one year high of $1.64. The firm has a market capitalization of $310.83 million, a PE ratio of -21.43 and a beta of 0.83. The company’s 50-day simple moving average is $1.11 and its two-hundred day simple moving average is $1.03.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Ring Energy to a “hold” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2.50.

Get Our Latest Stock Analysis on REI

Institutional Trading of Ring Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Ring Energy by 18.0% in the 3rd quarter. Vanguard Group Inc. now owns 10,613,683 shares of the company’s stock worth $11,569,000 after buying an additional 1,617,668 shares during the period. Barclays PLC lifted its position in shares of Ring Energy by 32.8% in the third quarter. Barclays PLC now owns 8,000,090 shares of the company’s stock valued at $8,720,000 after acquiring an additional 1,975,000 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Ring Energy by 22.5% in the second quarter. Ameriprise Financial Inc. now owns 6,051,151 shares of the company’s stock worth $4,805,000 after acquiring an additional 1,109,514 shares during the period. UBS Group AG grew its position in shares of Ring Energy by 16.9% during the third quarter. UBS Group AG now owns 3,933,268 shares of the company’s stock worth $4,287,000 after purchasing an additional 569,626 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Ring Energy by 28.6% during the first quarter. AQR Capital Management LLC now owns 3,350,472 shares of the company’s stock worth $3,853,000 after purchasing an additional 744,284 shares in the last quarter. 77.14% of the stock is currently owned by institutional investors.

Ring Energy Company Profile

(Get Free Report)

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.

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