In yesterday’s Wall Street session, Ring Energy Inc. (AMEX:REI) shares traded at $2.37, down -4.44% from the previous session.
As of this writing, 3 analysts cover Ring Energy Inc. (AMEX:REI). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $8.00 and a low of $3.00, we find $5.50. Given the previous closing price of $2.48, this indicates a potential upside of 121.77 percent. REI stock price is now -16.96% away from the 50-day moving average and -28.46% away from the 200-day moving average. The market capitalization of the company currently stands at $413.33M.
There are 2 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $5.50 as their price target over the next twelve months.
With the price target enhanced from $4.90 to $7.50, ROTH Capital Downgraded its rating from Buy to Neutral for Ring Energy Inc. (AMEX: REI). On October 14, 2021, ROTH Capital Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $4.75, while ‘Alliance Global Partners’ rates the stock as ‘Buy’.
In other news, Kruse William R, 10% Owner bought 507,214 shares of the company’s stock on Aug 01. The stock was bought for $1,354,261 at an average price of $2.67. Upon completion of the transaction, the 10% Owner now directly owns 13,446,948 shares in the company, valued at $31.87 million. Insiders disposed of 13,006,109 shares of company stock worth roughly $30.82 million over the past 1 year. A total of 9.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in REI stock. A new stake in Ring Energy Inc. shares was purchased by WARBURG PINCUS LLC during the first quarter worth $117,686,000. AQR CAPITAL MANAGEMENT LLC invested $1,124,000 in shares of REI during the first quarter. In the first quarter, GRAHAM CAPITAL MANAGEMENT, L.P. acquired a new stake in Ring Energy Inc. valued at approximately $1,053,000. FIRST TRUST ADVISORS LP acquired a new stake in REI for approximately $496,000. TWO SIGMA SECURITIES, LLC purchased a new stake in REI valued at around $99,000 in the second quarter. In total, there are 154 active investors with 52.40% ownership of the company’s stock.
Tuesday morning saw Ring Energy Inc. (AMEX: REI) opened at $2.4300. During the past 12 months, Ring Energy Inc. has had a low of $2.02 and a high of $5.09. As of last week, the company has a debt-to-equity ratio of 0.86, a current ratio of 0.50, and a quick ratio of 0.50. The fifty day moving average price for REI is $2.8542 and a two-hundred day moving average price translates $3.3128 for the stock.
The latest earnings results from Ring Energy Inc. (AMEX: REI) was released for Jun, 2022. According to the Oil & Gas E&P Company, earnings per share came in at $0.24, missing analysts’ expectations of $0.25 by -0.01. This compares to $0.12 EPS in the same period last year. The net profit margin was 48.30% and return on equity was 40.20% for REI. The company reported revenue of $94.41 million for the quarter, compared to $49.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 91.2 percent. For the current quarter, analysts expect REI to generate $72.53M in revenue.
Ring Energy Inc.(REI) Company Profile
Ring Energy, Inc., an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company’s proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico. Ring Energy, Inc. primarily sells its oil and natural gas production to end users, marketers, and other purchasers. The company was formerly known as Transglobal Mining Corp. and changed its name to Ring Energy, Inc. in March 2008. Ring Energy, Inc. was incorporated in 2004 and is headquartered in The Woodlands, Texas.