Ring Energy Inc (NYSEAMERICAN:REI) – Equities researchers at Capital One Financial issued their Q2 2018 earnings per share (EPS) estimates for Ring Energy in a research report issued on Wednesday. Capital One Financial analyst R. Tullis expects that the company will post earnings per share of $0.22 for the quarter. Capital One Financial also issued estimates for Ring Energy’s Q3 2018 earnings at $0.28 EPS and Q4 2018 earnings at $0.33 EPS.
Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Ring Energy from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Thursday, January 11th. KLR Group started coverage on shares of Ring Energy in a research report on Thursday, December 21st. They set a “buy” rating and a $20.00 price target on the stock. SunTrust Banks restated a “buy” rating and set a $19.00 price target on shares of Ring Energy in a research report on Friday, November 10th. Roth Capital set a $22.00 price target on shares of Ring Energy and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Northland Securities set a $18.00 price target on shares of Ring Energy and gave the stock a “buy” rating in a research report on Monday, December 11th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Ring Energy currently has a consensus rating of “Buy” and an average target price of $19.00.
Shares of Ring Energy (NYSEAMERICAN REI) opened at $14.65 on Friday. Ring Energy has a 52-week low of $9.22 and a 52-week high of $16.09. The stock has a market cap of $857.35, a PE ratio of 133.18 and a beta of 0.23.
A number of large investors have recently bought and sold shares of the business. UBS Asset Management Americas Inc. boosted its holdings in 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 purchasing an additional 7,600 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in 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 purchasing an additional 8,620 shares during the last quarter. Ranger Investment Management L.P. boosted its holdings in 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 purchasing an additional 11,490 shares during the last quarter. Jefferies Group LLC purchased a new stake in shares of Ring Energy in the 4th quarter valued at approximately $229,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Ring Energy in the 4th quarter valued at approximately $238,000.
In other Ring Energy news, CFO William Randall Broaddrick sold 75,000 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $14.02, for a total value of $1,051,500.00. Following the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $701,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel D. Wilson sold 50,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $13.77, for a total transaction of $688,500.00. The disclosure for this sale can be found here. Insiders have sold 262,724 shares of company stock worth $3,727,430 over the last 90 days.
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About Ring Energy
Ring Energy, Inc (Ring) is an exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company’s exploration and production interests are focused on Texas and Kansas. Its operations are all oil and gas exploration and production related activities in the United States.
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