Ring Energy (NYSE:REI) Stock Price Down 7.2%

Ring Energy, Inc. (NYSE:REIGet Rating)’s stock price was down 7.2% during trading on Thursday . The company traded as low as $2.86 and last traded at $2.97. Approximately 4,379,488 shares changed hands during trading, an increase of 54% from the average daily volume of 2,848,275 shares. The stock had previously closed at $3.20.

Separately, StockNews.com started coverage on shares of Ring Energy in a report on Thursday, March 31st. They set a “hold” rating for the company.

The business’s fifty day simple moving average is $4.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $316.90 million, a P/E ratio of 13.50 and a beta of 1.86.

Ring Energy (NYSE:REIGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Ring Energy had a net margin of 13.11% and a return on equity of 14.87%. The company had revenue of $68.18 million during the quarter, compared to analyst estimates of $54.10 million. On average, equities research analysts predict that Ring Energy, Inc. will post 0.77 earnings per share for the current fiscal year.

About Ring Energy (NYSE:REI)

Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company's proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.

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