Equities analysts predict that Ring Energy (NYSE:REI) will post $0.05 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Ring Energy’s earnings. The lowest EPS estimate is $0.03 and the highest is $0.06. Ring Energy posted earnings per share of $0.01 in the same quarter last year, which would suggest a positive year over year growth rate of 400%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 14th.

On average, analysts expect that Ring Energy will report full-year earnings of $0.22 per share for the current year, with EPS estimates ranging from $0.16 to $0.26. For the next year, analysts forecast that the business will report earnings of $0.57 per share, with EPS estimates ranging from $0.33 to $0.78. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Ring Energy.

Ring Energy (NYSE:REI) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $14.50 million for the quarter, compared to the consensus estimate of $14.20 million.

A number of research firms have weighed in on REI. Roth Capital set a $20.00 price target on Ring Energy and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Imperial Capital began coverage on Ring Energy in a research report on Tuesday, August 15th. They set an “outperform” rating and a $18.00 price target on the stock. Northland Securities set a $20.00 price target on Ring Energy and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, Zacks Investment Research upgraded Ring Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ring Energy presently has an average rating of “Buy” and an average target price of $17.33.

Shares of Ring Energy (NYSE:REI) traded down 4.35% during midday trading on Friday, reaching $12.32. The company had a trading volume of 277,192 shares. The company has a 50 day moving average of $12.71 and a 200 day moving average of $12.26. The company’s market capitalization is $667.07 million. Ring Energy has a one year low of $8.76 and a one year high of $14.14.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. purchased a new stake in Ring Energy during the second quarter valued at about $4,980,000. Fisher Asset Management LLC grew its stake in shares of Ring Energy by 42.7% during the second quarter. Fisher Asset Management LLC now owns 181,286 shares of the company’s stock valued at $2,357,000 after buying an additional 54,235 shares during the last quarter. Eagle Boston Investment Management Inc. grew its stake in shares of Ring Energy by 3.0% during the second quarter. Eagle Boston Investment Management Inc. now owns 810,453 shares of the company’s stock valued at $10,535,000 after buying an additional 23,619 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Ring Energy by 407.3% during the first quarter. Bank of America Corp DE now owns 28,811 shares of the company’s stock valued at $311,000 after buying an additional 23,132 shares during the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of Ring Energy by 22.6% during the second quarter. Federated Investors Inc. PA now owns 578,262 shares of the company’s stock valued at $7,518,000 after buying an additional 106,647 shares during the last quarter.

About Ring Energy

Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.

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