Ring Energy Inc (NYSEAMERICAN:REI) – Research analysts at Seaport Global Securities raised their Q4 2018 EPS estimates for shares of Ring Energy in a research note issued to investors on Tuesday, November 6th. Seaport Global Securities analyst J. Aschenbeck now anticipates that the company will post earnings per share of $0.14 for the quarter, up from their prior estimate of $0.13. Seaport Global Securities has a “Neutral” rating and a $12.00 price objective on the stock.
Other equities analysts have also issued reports about the company. Imperial Capital set a $15.00 price target on Ring Energy and gave the company an “outperform” rating in a research note on Thursday, October 4th. Zacks Investment Research lowered Ring Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Finally, Ifs Securities restated an “outperform” rating on shares of Ring Energy in a research note on Monday, October 29th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $17.89.
Ring Energy (NYSEAMERICAN:REI) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The firm had revenue of $32.69 million for the quarter, compared to the consensus estimate of $30.83 million.
Institutional investors and hedge funds have recently made changes to their positions in the company. Neuburgh Advisers LLC boosted its holdings in shares of Ring Energy by 103.5% in the 2nd quarter. Neuburgh Advisers LLC now owns 9,962 shares of the company’s stock worth $126,000 after acquiring an additional 5,066 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Ring Energy in the 2nd quarter worth approximately $145,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ring Energy in the 1st quarter worth approximately $170,000. CIBC World Markets Inc. acquired a new position in shares of Ring Energy in the 2nd quarter worth approximately $151,000. Finally, Jane Street Group LLC acquired a new position in shares of Ring Energy in the 2nd quarter worth approximately $165,000.
In other Ring Energy news, Director Stanley Myron Mccabe sold 100,000 shares of Ring Energy stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $11.23, for a total transaction of $1,123,000.00. Following the sale, the director now directly owns 1,720,634 shares of the company’s stock, valued at $19,322,719.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President David A. Fowler sold 10,000 shares of Ring Energy stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $11.54, for a total value of $115,400.00. Following the sale, the president now directly owns 135,200 shares in the company, valued at $1,560,208. The disclosure for this sale can be found here. Insiders have sold 370,375 shares of company stock worth $4,183,691 over the last ninety days.
About Ring Energy
Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2017, the company's proved reserves consisted of approximately 31.9 million barrel of oil equivalent. As of the above date, it also had interests in 8,102 net developed acres and 61,772 net undeveloped acres in Andrews and Gaines counties; and 10,235 net developed acres and 9,682 net undeveloped acres in Culberson and Reeves counties.
Featured Article: How accurate is the Rule of 72?
Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.