Imperial Capital Analysts Reduce Earnings Estimates for Ring Energy Inc (NYSEAMERICAN:REI)

Ring Energy Inc (NYSEAMERICAN:REI) – Stock analysts at Imperial Capital reduced their Q3 2019 earnings per share estimates for Ring Energy in a report issued on Thursday, October 17th. Imperial Capital analyst J. Wangler now expects that the company will post earnings of $0.08 per share for the quarter, down from their prior estimate of $0.13. Imperial Capital has a “Outperform” rating and a $4.00 price objective on the stock. Imperial Capital also issued estimates for Ring Energy’s Q4 2019 earnings at $0.13 EPS, FY2019 earnings at $0.50 EPS and FY2020 earnings at $0.54 EPS.

Ring Energy (NYSEAMERICAN:REI) last announced its earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $51.33 million during the quarter, compared to analyst estimates of $49.66 million.

REI has been the topic of a number of other reports. Zacks Investment Research cut shares of Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. LADENBURG THALM/SH SH cut shares of Ring Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $5.00 to $3.00 in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.30.

Shares of Ring Energy stock opened at $1.64 on Monday. The firm’s fifty day simple moving average is $1.65 and its 200-day simple moving average is $3.64. Ring Energy has a 12 month low of $1.23 and a 12 month high of $8.35.

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in shares of Ring Energy by 124.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 45,913 shares of the company’s stock worth $75,000 after purchasing an additional 25,495 shares in the last quarter. Magnus Financial Group LLC purchased a new stake in shares of Ring Energy during the 2nd quarter worth $78,000. WINTON GROUP Ltd boosted its position in shares of Ring Energy by 23.8% during the 2nd quarter. WINTON GROUP Ltd now owns 26,620 shares of the company’s stock worth $87,000 after purchasing an additional 5,119 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Ring Energy during the 2nd quarter worth $88,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Ring Energy during the 1st quarter worth $106,000.

In other news, President David A. Fowler acquired 20,750 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $1.66 per share, with a total value of $34,445.00. Following the purchase, the president now owns 152,900 shares of the company’s stock, valued at approximately $253,814. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kelly W. Hoffman acquired 22,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was purchased at an average cost of $1.60 per share, for a total transaction of $35,200.00. Following the completion of the purchase, the chief executive officer now directly owns 59,546 shares in the company, valued at approximately $95,273.60. The disclosure for this purchase can be found here. Insiders acquired a total of 115,250 shares of company stock worth $183,370 over the last three months.

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, 2018, the company's proved reserves consisted of approximately 36.6 million barrel of oil equivalent. As of the above date, it also had interests in 17,408 net developed acres and 58,620 net undeveloped acres in Andrews and Gaines counties; and 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties.

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Earnings History and Estimates for Ring Energy (NYSEAMERICAN:REI)

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