Ring Energy (NYSEAMERICAN:REI) Posts Earnings Results, Misses Estimates By $0.01 EPS

Ring Energy (NYSEAMERICAN:REI) released its quarterly earnings data on Wednesday. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01), FiscalAI reports. The business had revenue of $66.88 million during the quarter, compared to analysts’ expectations of $71.35 million. Ring Energy had a negative net margin of 11.31% and a positive return on equity of 5.07%.

Ring Energy Stock Up 3.3%

REI opened at $1.55 on Friday. Ring Energy has a one year low of $0.72 and a one year high of $1.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.50 and a current ratio of 0.55. The stock has a market capitalization of $321.19 million, a P/E ratio of -9.69 and a beta of 0.83. The business’s 50-day simple moving average is $1.14 and its 200-day simple moving average is $1.04.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of Ring Energy in the fourth quarter valued at approximately $236,000. Sprott Inc. purchased a new stake in Ring Energy in the 4th quarter valued at $248,000. Victory Capital Management Inc. raised its position in Ring Energy by 44.6% in the 3rd quarter. Victory Capital Management Inc. now owns 374,896 shares of the company’s stock valued at $409,000 after purchasing an additional 115,572 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Ring Energy during the 2nd quarter worth $439,000. Finally, AQR Capital Management LLC grew its position in Ring Energy by 28.6% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 77.14% of the company’s stock.

Ring Energy Company Profile

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.