Ring Energy (NYSEAMERICAN:REI) Posts Earnings Results, Misses Estimates By $0.09 EPS

Ring Energy (NYSEAMERICAN:REI) posted its quarterly earnings results on Wednesday. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.09), FiscalAI reports. The firm had revenue of $66.88 million during the quarter, compared to analyst estimates of $71.35 million. Ring Energy had a negative net margin of 5.01% and a positive return on equity of 6.07%.

Ring Energy Price Performance

NYSEAMERICAN REI traded up $0.03 on Wednesday, hitting $1.50. 7,612,590 shares of the company’s stock were exchanged, compared to its average volume of 3,763,757. The stock has a 50-day moving average of $1.11 and a 200-day moving average of $1.03. The stock has a market cap of $310.83 million, a price-to-earnings ratio of -21.43 and a beta of 0.83. Ring Energy has a 52 week low of $0.72 and a 52 week high of $1.64. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 0.51.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Ring Energy to a “hold” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.50.

Hedge Funds Weigh In On Ring Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van Den Berg Management I Inc. lifted its position in shares of Ring Energy by 39.9% during the 3rd quarter. Van Den Berg Management I Inc. now owns 50,884 shares of the company’s stock valued at $55,000 after acquiring an additional 14,523 shares during the period. Centiva Capital LP bought a new stake in Ring Energy in the third quarter valued at $26,000. HRT Financial LP acquired a new position in shares of Ring Energy during the fourth quarter valued at about $31,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Ring Energy during the 1st quarter worth about $42,000. Finally, Virtu Financial LLC acquired a new stake in shares of Ring Energy in the 3rd quarter valued at about $41,000. Institutional investors own 77.14% of the company’s stock.

Ring Energy Company Profile

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.