Ring Energy Inc (NYSEAMERICAN:REI) – Stock analysts at Capital One Financial raised their FY2019 EPS estimates for shares of Ring Energy in a research report issued on Wednesday, November 7th. Capital One Financial analyst R. Tullis now expects that the company will post earnings per share of $0.91 for the year, up from their previous estimate of $0.90.
Several other brokerages have also weighed in on REI. Zacks Investment Research lowered Ring Energy from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. Seaport Global Securities lowered Ring Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $12.00 in a report on Tuesday, October 2nd. Imperial Capital set a $15.00 price objective on Ring Energy and gave the company an “outperform” rating in a report on Thursday, October 4th. Finally, Ifs Securities restated an “outperform” rating on shares of Ring Energy in a report on Monday, October 29th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $17.75.
Ring Energy (NYSEAMERICAN:REI) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm had revenue of $32.69 million during the quarter, compared to analyst estimates of $30.83 million.
Several hedge funds and other institutional investors have recently made changes to their positions in REI. Neuburgh Advisers LLC raised its position in Ring Energy by 103.5% during the second quarter. Neuburgh Advisers LLC now owns 9,962 shares of the company’s stock valued at $126,000 after buying an additional 5,066 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Ring Energy during the second quarter valued at $145,000. CIBC World Markets Inc. acquired a new position in Ring Energy during the second quarter valued at $151,000. Jane Street Group LLC acquired a new position in Ring Energy during the second quarter valued at $165,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Ring Energy during the first quarter valued at $170,000.
In other news, President David A. Fowler sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $11.54, for a total transaction of $115,400.00. Following the completion of the sale, the president now directly owns 135,200 shares of the company’s stock, valued at $1,560,208. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel D. Wilson sold 25,000 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $11.13, for a total value of $278,250.00. Following the sale, the insider now directly owns 40,000 shares of the company’s stock, valued at $445,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 370,375 shares of company stock valued at $4,183,691.
Ring Energy Company Profile
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.
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