Ring Energy Inc (REI) Forecasted to Earn FY2019 Earnings of $1.30 Per Share

Ring Energy Inc (NYSEAMERICAN:REI) – Stock analysts at SunTrust Banks decreased their FY2019 earnings per share estimates for shares of Ring Energy in a research note issued on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the company will earn $1.30 per share for the year, down from their prior estimate of $1.51. SunTrust Banks has a “Buy” rating and a $19.00 price target on the stock.

A number of other research firms have also recently weighed in on REI. Zacks Investment Research cut shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 13th. Roth Capital set a $22.00 target price on shares of Ring Energy and gave the stock a “buy” rating in a report on Tuesday, January 16th. KLR Group started coverage on shares of Ring Energy in a report on Thursday, January 11th. They set a “buy” rating for the company. Northland Securities set a $18.00 price target on shares of Ring Energy and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, B. Riley started coverage on shares of Ring Energy in a report on Monday. They set a “buy” rating and a $22.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.00.

Ring Energy (NYSEAMERICAN:REI) traded up $0.58 during midday trading on Wednesday, reaching $14.98. 1,663,996 shares of the company’s stock were exchanged, compared to its average volume of 461,898. Ring Energy has a 12-month low of $9.22 and a 12-month high of $15.95. The company has a market cap of $705.70, a P/E ratio of 130.91 and a beta of 0.23.

Ring Energy (NYSEAMERICAN:REI) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Ring Energy had a net margin of 18.47% and a return on equity of 3.75%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mutual of America Capital Management LLC grew its holdings in shares of Ring Energy by 274.0% during the 4th quarter. Mutual of America Capital Management LLC now owns 321,598 shares of the company’s stock worth $4,470,000 after purchasing an additional 235,598 shares in the last quarter. Icon Advisers Inc. Co. raised its stake in shares of Ring Energy by 18.8% during the 4th quarter. Icon Advisers Inc. Co. now owns 583,100 shares of the company’s stock valued at $8,105,000 after purchasing an additional 92,300 shares during the period. Perkins Capital Management Inc. raised its stake in shares of Ring Energy by 767.3% during the 4th quarter. Perkins Capital Management Inc. now owns 86,725 shares of the company’s stock valued at $1,205,000 after purchasing an additional 76,725 shares during the period. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Ring Energy by 44.8% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 242,973 shares of the company’s stock valued at $3,377,000 after purchasing an additional 75,194 shares during the period. Finally, Northpointe Capital LLC raised its stake in shares of Ring Energy by 18.1% during the 4th quarter. Northpointe Capital LLC now owns 295,112 shares of the company’s stock valued at $4,102,000 after purchasing an additional 45,142 shares during the period.

In related news, insider Daniel D. Wilson sold 50,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $13.77, for a total value of $688,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kelly W. Hoffman sold 51,238 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $13.79, for a total value of $706,572.02. The disclosure for this sale can be found here. Insiders sold a total of 262,724 shares of company stock valued at $3,727,430 over the last quarter.

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Ring Energy Company Profile

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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