The price of Ring Energy Inc. (AMEX:REI) shares last traded on Wall Street fell -2.91% to $2.00.
Based on available information, 3 analysts follow 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 $3.50 and a low of $3.50, we find $3.50. Given the previous closing price of $2.06, this indicates a potential upside of 69.9 percent. REI stock price is now 1.82% away from the 50-day moving average and -8.70% away from the 200-day moving average. The market capitalization of the company currently stands at $418.00M.
Among analysts, 2 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $3.50 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).
In other news, McKinney Paul D., CEO and Chairman of the Board bought 25,000 shares of the company’s stock on May 12. The stock was bought for $42,500 at an average price of $1.70. Upon completion of the transaction, the CEO and Chairman of the Board now directly owns 1,345,192 shares in the company, valued at $2.69 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 20, Director HARRIS RICHARD E sold 77,400 shares of the business’s stock. A total of $136,147 was realized by selling the stock at an average price of $1.76. This leaves the insider owning 227,694 shares of the company worth $0.46 million. Insiders disposed of 13,153,215 shares of company stock worth roughly $26.31 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 EA SERIES TRUST during the first quarter worth $514,000. EMPOWERED FUNDS, LLC invested $514,000 in shares of REI during the first quarter. In the first quarter, EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in Ring Energy Inc. valued at approximately $252,000. XTX TOPCO LTD acquired a new stake in REI for approximately $201,000. INTEGRATED WEALTH CONCEPTS LLC purchased a new stake in REI valued at around $121,000 in the second quarter. In total, there are 172 active investors with 52.40% ownership of the company’s stock.
A candlestick chart of Ring Energy Inc. (AMEX: REI) showed a price of $2.0600 on Thursday morning. During the past 12 months, Ring Energy Inc. has had a low of $1.62 and a high of $3.46. As of last week, the company has a debt-to-equity ratio of 0.54, a current ratio of 0.50, and a quick ratio of 0.50. According to the stock market information, the enterprise value for the company is $790.56M, which is based on a 1.86 price-to-earnings ratio, a 0.05 price-to-earnings-growth ratio, and a beta of 2.04. The fifty day moving average price for REI is $1.9688 and a two-hundred day moving average price translates $2.1854 for the stock.
The latest earnings results from Ring Energy Inc. (AMEX: REI) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.1 by 0.04. This compares to $0.32 EPS in the same period last year. The company reported revenue of $79.35 million for the quarter, compared to $84.96 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.61 percent. For the current quarter, analysts expect REI to generate $88.94M in revenue.
Ring Energy Inc.(REI) Company Profile
Ring Energy, Inc., an independent exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. It had interests in 54,959 net developed acres and 2,337 net undeveloped acres in Andrews, Gaines, Crane, Winkler, and Ward counties, Texas; and 13,930 net developed acres and 12,512 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.
