Ring Energy (NYSEAMERICAN:REI) Posts Earnings Results, Beats Expectations By $0.03 EPS

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

Ring Energy Stock Performance

Shares of NYSEAMERICAN:REI traded down $0.01 during trading on Friday, hitting $1.11. The stock had a trading volume of 5,076,198 shares, compared to its average volume of 3,233,781. Ring Energy has a 12-month low of $0.83 and a 12-month high of $2.00. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $289.18 million, a price-to-earnings ratio of -1.22, a price-to-earnings-growth ratio of 0.28 and a beta of 0.85. The stock has a 50-day simple moving average of $1.38 and a two-hundred day simple moving average of $1.35.

Analysts Set New Price Targets

REI has been the topic of several recent research reports. Mizuho started coverage on Ring Energy in a research note on Wednesday, September 2nd. They issued a “neutral” rating and a $2.00 price objective on the stock. Bank of America initiated coverage on shares of Ring Energy in a report on Wednesday, July 15th. They issued a “buy” rating and a $2.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.00.

About Ring Energy

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.