Ring Energy (NYSEAMERICAN:REI) Issues Earnings Results

Ring Energy (NYSEAMERICAN:REI) announced its earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03, FiscalAI reports. Ring Energy had a positive return on equity of 5.55% and a negative net margin of 68.02%. The firm had revenue of $102.34 million during the quarter, compared to analysts’ expectations of $91.87 million.

Ring Energy Trading Down 0.9%

Shares of NYSEAMERICAN REI traded down $0.01 during trading hours on Friday, hitting $1.11. 5,076,198 shares of the company traded hands, compared to its average volume of 3,233,781. Ring Energy has a 12 month low of $0.83 and a 12 month high of $2.00. The stock has a market capitalization of $289.18 million, a price-to-earnings ratio of -1.22, a price-to-earnings-growth ratio of 0.28 and a beta of 0.85. The company’s 50 day moving average price is $1.38 and its 200 day moving average price is $1.35. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.48.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on REI shares. Bank of America started coverage on Ring Energy in a report on Wednesday, July 15th. They set a “buy” rating and a $2.00 price objective on the stock. Mizuho initiated coverage on shares of Ring Energy in a research note on Wednesday, September 2nd. They issued a “neutral” rating and a $2.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.00.

Ring Energy Company Profile

Ring Energy, Inc (NYSE American: REI) is an independent oil and natural gas exploration and production company. The company focuses on the acquisition, development, exploration and operation of oil and gas properties, with an emphasis on generating production from established assets.

Ring Energy’s operations are concentrated in the Permian Basin, one of the most significant oil-producing regions in the United States. Its properties are primarily located in the Northwest Shelf of the Permian Basin in southeastern New Mexico and West Texas.