The stock of Ring Energy Inc. (AMEX:REI) last traded at $2.01, up 1.01% from the previous session.
Data from the available sources indicates that Ring Energy Inc. (AMEX:REI) is covered by 3 analysts. 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 $1.99, this indicates a potential upside of 75.88 percent. REI stock price is now -0.72% away from the 50-day moving average and -2.09% away from the 200-day moving average. The market capitalization of the company currently stands at $382.42M.
In total, 2 analysts have assigned it a hold rating, and 1 have given it a buy rating. 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, Petrelli Anthony Benedict, Director bought 50,000 shares of the company’s stock on Sep 12. The stock was bought for $95,980 at an average price of $1.92. Upon completion of the transaction, the Director now directly owns 611,294 shares in the company, valued at $1.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 09, 10% Owner Warburg Pincus (E&P) XII LLC sold 12,600,000 shares of the business’s stock. A total of $25,956,000 was realized by selling the stock at an average price of $2.06. This leaves the insider owning 46,994,853 shares of the company worth $94.46 million. Insiders disposed of 13,153,215 shares of company stock worth roughly $26.44 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 AMERIPRISE FINANCIAL INC during the first quarter worth $7,390,000. EA SERIES TRUST invested $516,000 in shares of REI during the first quarter. In the first quarter, EMPOWERED FUNDS, LLC acquired a new stake in Ring Energy Inc. valued at approximately $516,000. WINTON GROUP LTD acquired a new stake in REI for approximately $132,000. STATE OF WYOMING purchased a new stake in REI valued at around $124,000 in the second quarter. In total, there are 172 active investors with 52.40% ownership of the company’s stock.
With an opening price of $2.0300 on Thursday morning, Ring Energy Inc. (AMEX: REI) set off the trading day. 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 $788.61M, which is based on a 2.23 price-to-earnings ratio, a 0.06 price-to-earnings-growth ratio, and a beta of 2.03. The fifty day moving average price for REI is $2.0296 and a two-hundred day moving average price translates $2.0490 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 net profit margin was 41.80% and return on equity was 23.20% for REI. 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 $87.23M 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.
