Ring Energy (NYSEAMERICAN:REI) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Ring Energy (NYSEAMERICAN:REI) issued its earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.09), FiscalAI reports. The company had revenue of $66.88 million for the quarter, compared to the consensus estimate of $71.35 million. Ring Energy had a positive return on equity of 6.07% and a negative net margin of 5.01%.

Ring Energy Trading Up 2.0%

Shares of NYSEAMERICAN:REI traded up $0.03 during trading hours on Wednesday, hitting $1.50. 7,612,590 shares of the company’s stock traded hands, compared to its average volume of 3,763,757. The firm has a market capitalization of $310.83 million, a P/E ratio of -21.43 and a beta of 0.83. The business has a fifty day moving average price of $1.11 and a 200-day moving average price of $1.03. Ring Energy has a 1 year low of $0.72 and a 1 year high of $1.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.55 and a quick ratio of 0.50.

Institutional Trading of Ring Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van Den Berg Management I Inc. grew its stake in Ring Energy by 39.9% during the 3rd quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock worth $55,000 after buying an additional 14,523 shares during the last quarter. Centiva Capital LP acquired a new stake in Ring Energy in the third quarter worth about $26,000. HRT Financial LP acquired a new stake in Ring Energy in the fourth quarter worth about $31,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ring Energy during the first quarter worth about $42,000. Finally, Virtu Financial LLC acquired a new position in shares of Ring Energy during the third quarter valued at about $41,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

Analyst Ratings Changes

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

About Ring Energy

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.