Ring Energy (NYSEAMERICAN:REI) – Equities researchers at Capital One Financial reduced their Q1 2018 earnings per share (EPS) estimates for shares of Ring Energy in a note issued to investors on Thursday, April 12th. Capital One Financial analyst R. Tullis now forecasts that the company will post earnings of $0.12 per share for the quarter, down from their previous estimate of $0.15. Capital One Financial also issued estimates for Ring Energy’s Q2 2018 earnings at $0.14 EPS.
Several other equities analysts have also recently commented on the stock. B. Riley set a $20.00 target price on shares of Ring Energy and gave the company a “buy” rating in a research report on Tuesday, March 20th. Roth Capital set a $22.00 target price on shares of Ring Energy and gave the company a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research cut shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, KLR Group initiated coverage on shares of Ring Energy in a research report on Thursday, January 11th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $18.75.
Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings data on Thursday, March 15th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.09. The firm had revenue of $23.31 million during the quarter, compared to the consensus estimate of $21.32 million. Ring Energy had a net margin of 18.47% and a return on equity of 3.75%.
Several large investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. raised its position in shares of Ring Energy by 73.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 17,995 shares of the company’s stock valued at $250,000 after buying an additional 7,600 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Ring Energy by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 132,282 shares of the company’s stock valued at $1,839,000 after buying an additional 8,620 shares in the last quarter. Ranger Investment Management L.P. raised its position in shares of Ring Energy by 6.8% in the 4th quarter. Ranger Investment Management L.P. now owns 179,625 shares of the company’s stock valued at $2,497,000 after buying an additional 11,490 shares in the last quarter. Jefferies Group LLC acquired a new position in shares of Ring Energy in the 4th quarter valued at approximately $229,000. Finally, Teacher Retirement System of Texas acquired a new position in Ring Energy during the 4th quarter worth approximately $238,000.
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, 2017, the company's proved reserves consisted of approximately 31.9 million barrel of oil equivalent. As of the above date, it also had interests in 8,102 net developed acres and 61,772 net undeveloped acres in Andrews and Gaines counties; and 10,235 net developed acres and 9,682 net undeveloped acres in Culberson and Reeves counties.
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