Ring Energy (NYSEAMERICAN:REI) Posts Earnings Results

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

Ring Energy Stock Down 0.9%

Ring Energy stock traded down $0.01 during trading on Friday, reaching $1.11. 5,076,198 shares of the company’s stock were exchanged, compared to its average volume of 3,233,781. The company’s 50-day moving average is $1.38 and its two-hundred day moving average is $1.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.49 and a current ratio of 0.54. Ring Energy has a 52-week low of $0.83 and a 52-week high of $2.00. The firm has a market cap of $289.18 million, a price-to-earnings ratio of -1.22, a PEG ratio of 0.28 and a beta of 0.85.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America assumed coverage on Ring Energy in a report on Wednesday, July 15th. They set a “buy” rating and a $2.00 price objective for the company. Mizuho assumed coverage on Ring Energy in a report on Wednesday, September 2nd. They issued a “neutral” rating and a $2.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.