Ring Energy Inc (NYSEAMERICAN:REI) – Analysts at Capital One Financial reduced their Q3 2018 earnings estimates for shares of Ring Energy in a research note issued to investors on Wednesday, September 12th, according to Zacks Investment Research. Capital One Financial analyst R. Tullis now forecasts that the company will post earnings per share of $0.13 for the quarter, down from their previous estimate of $0.17. Capital One Financial also issued estimates for Ring Energy’s Q4 2018 earnings at $0.16 EPS, FY2018 earnings at $0.49 EPS and FY2019 earnings at $1.02 EPS.
Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.04). Ring Energy had a net margin of 18.47% and a return on equity of 3.75%. The business had revenue of $29.93 million for the quarter, compared to the consensus estimate of $30.05 million.
REI has been the topic of several other research reports. Zacks Investment Research downgraded shares of Ring Energy from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Imperial Capital set a $15.00 target price on shares of Ring Energy and gave the company an “outperform” rating in a research note on Thursday. Finally, Seaport Global Securities downgraded shares of Ring Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $20.00 to $12.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $17.89.
REI stock traded up $0.05 during trading on Thursday, hitting $8.19. 913,379 shares of the company’s stock traded hands, compared to its average volume of 726,199. Ring Energy has a 52 week low of $7.80 and a 52 week high of $17.35.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Neuburgh Advisers LLC increased its position in Ring Energy by 103.5% during the 2nd quarter. Neuburgh Advisers LLC now owns 9,962 shares of the company’s stock valued at $126,000 after purchasing an additional 5,066 shares during the period. Profund Advisors LLC purchased a new position in Ring Energy during the 1st quarter valued at about $146,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Ring Energy during the 2nd quarter valued at about $145,000. Cubist Systematic Strategies LLC purchased a new position in Ring Energy during the 1st quarter valued at about $170,000. Finally, CIBC World Markets Inc. purchased a new position in Ring Energy during the 2nd quarter valued at about $151,000.
In related news, Director Stanley Myron Mccabe sold 45,000 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $11.22, for a total value of $504,900.00. Following the transaction, the director now owns 1,720,634 shares of the company’s stock, valued at approximately $19,305,513.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel D. Wilson sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $11.13, for a total transaction of $278,250.00. Following the completion of the transaction, the insider now directly owns 40,000 shares in the company, valued at approximately $445,200. The disclosure for this sale can be found here. Insiders sold a total of 370,375 shares of company stock worth $4,183,691 in the last ninety days.
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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