Ring Energy Inc (NYSEAMERICAN:REI) – Investment analysts at SunTrust Banks reduced their FY2018 earnings per share (EPS) estimates for shares of Ring Energy in a report released on Thursday, October 4th. SunTrust Banks analyst N. Dingmann now forecasts that the company will earn $0.40 per share for the year, down from their previous forecast of $0.44. SunTrust Banks also issued estimates for Ring Energy’s Q4 2018 earnings at $0.12 EPS.
A number of other research firms also recently commented on REI. Zacks Investment Research downgraded Ring Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Imperial Capital set a $15.00 price target on Ring Energy and gave the stock an “outperform” rating in a research note on Thursday, October 4th. Finally, Seaport Global Securities downgraded Ring Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $12.00 in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.89.
NYSEAMERICAN:REI opened at $8.33 on Monday. Ring Energy has a one year low of $7.80 and a one year high of $17.35.
Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.04). The firm had revenue of $29.93 million during the quarter, compared to analyst estimates of $30.05 million. Ring Energy had a return on equity of 3.75% and a net margin of 18.47%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vident Investment Advisory LLC lifted its holdings in Ring Energy by 12.5% in the second quarter. Vident Investment Advisory LLC now owns 41,795 shares of the company’s stock worth $527,000 after acquiring an additional 4,638 shares during the last quarter. Neuburgh Advisers LLC lifted its holdings in Ring Energy by 103.5% in the second quarter. Neuburgh Advisers LLC now owns 9,962 shares of the company’s stock worth $126,000 after acquiring an additional 5,066 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Ring Energy by 52.7% in the first quarter. BNP Paribas Arbitrage SA now owns 16,184 shares of the company’s stock worth $232,000 after acquiring an additional 5,582 shares during the last quarter. Greenwood Capital Associates LLC lifted its holdings in Ring Energy by 56.3% in the second quarter. Greenwood Capital Associates LLC now owns 19,010 shares of the company’s stock worth $240,000 after acquiring an additional 6,850 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Ring Energy by 7.1% in the second quarter. Legal & General Group Plc now owns 107,399 shares of the company’s stock worth $1,375,000 after acquiring an additional 7,139 shares during the last quarter.
In other Ring Energy news, insider Daniel D. Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $11.13, for a total value of $278,250.00. Following the transaction, the insider now owns 40,000 shares of the company’s stock, valued at $445,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rochford Living Trust Lloyd Ti sold 100,000 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $11.40, for a total transaction of $1,140,000.00. The disclosure for this sale can be found here. Insiders sold 370,375 shares of company stock worth $4,183,691 in the last three months.
Ring Energy Company Profile
Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2017, the company's proved reserves consisted of approximately 31.9 million barrel of oil equivalent. As of the above date, it also had interests in 8,102 net developed acres and 61,772 net undeveloped acres in Andrews and Gaines counties; and 10,235 net developed acres and 9,682 net undeveloped acres in Culberson and Reeves counties.
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