Ring Energy (REI) to Release Quarterly Earnings on Wednesday

Ring Energy (NYSEAMERICAN:REI) is projected to release its earnings data before the market opens on Wednesday, March 5th. Analysts expect Ring Energy to post earnings of $0.09 per share and revenue of $85.41 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Ring Energy Stock Down 6.3 %

Shares of Ring Energy stock opened at $1.20 on Tuesday. Ring Energy has a one year low of $1.18 and a one year high of $2.20. The firm has a market capitalization of $237.84 million, a P/E ratio of 2.11 and a beta of 1.55. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.46.

Analysts Set New Price Targets

Separately, StockNews.com cut Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Insider Buying and Selling

In other Ring Energy news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1.23, for a total transaction of $8,087,250.00. Following the sale, the insider now directly owns 28,945,643 shares of the company’s stock, valued at $35,603,140.89. This trade represents a 18.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Ring Energy Company Profile

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.