Ring Energy (NYSEAMERICAN:REI) Announces Earnings Results

Ring Energy (NYSEAMERICAN:REI) issued its quarterly earnings results on Wednesday. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01, FiscalAI reports. Ring Energy had a negative net margin of 87.63% and a positive return on equity of 5.10%. The firm had revenue of $73.67 million for the quarter, compared to analyst estimates of $69.90 million.

Ring Energy Trading Down 2.4%

Shares of Ring Energy stock traded down $0.04 during trading on Friday, reaching $1.61. The company’s stock had a trading volume of 2,897,884 shares, compared to its average volume of 4,295,493. The company has a quick ratio of 0.56, a current ratio of 0.40 and a debt-to-equity ratio of 0.69. Ring Energy has a 52-week low of $0.72 and a 52-week high of $2.00. The firm’s 50-day moving average is $1.50 and its two-hundred day moving average is $1.18. The company has a market cap of $337.15 million, a price-to-earnings ratio of -1.27 and a beta of 0.92.

Institutional Trading of Ring Energy

Institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP purchased a new position in shares of Ring Energy in the third quarter worth about $26,000. Jump Financial LLC purchased a new stake in Ring Energy during the 2nd quarter valued at about $31,000. HRT Financial LP bought a new position in Ring Energy during the 4th quarter worth approximately $31,000. Hudson Bay Capital Management LP bought a new position in Ring Energy during the 2nd quarter worth approximately $34,000. Finally, State of Wyoming purchased a new position in Ring Energy in the 2nd quarter worth approximately $39,000. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Zacks Research upgraded Ring Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus price target of $2.50.

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.