SunTrust Banks Research Analysts Lift Earnings Estimates for Ring Energy Inc (REI)

Ring Energy Inc (NYSEAMERICAN:REI) – Equities researchers at SunTrust Banks lifted their Q4 2017 earnings per share estimates for shares of Ring Energy in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst N. Dingmann now anticipates that the company will post earnings of $0.10 per share for the quarter, up from their prior estimate of $0.06. SunTrust Banks has a “Buy” rating and a $19.00 price objective on the stock. SunTrust Banks also issued estimates for Ring Energy’s FY2018 earnings at $0.66 EPS and FY2020 earnings at $1.87 EPS.

A number of other brokerages have also recently weighed in on REI. KLR Group assumed coverage on shares of Ring Energy in a report on Thursday, December 21st. They issued a “buy” rating and a $20.00 price objective for the company. Northland Securities set a $18.00 price objective on shares of Ring Energy and gave the company a “buy” rating in a report on Monday, December 11th. B. Riley assumed coverage on shares of Ring Energy in a report on Monday. They issued a “buy” rating and a $22.00 price objective for the company. Roth Capital set a $22.00 price objective on shares of Ring Energy and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, Zacks Investment Research cut shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Ring Energy has an average rating of “Buy” and a consensus target price of $19.00.

Shares of Ring Energy (NYSEAMERICAN REI) opened at $15.13 on Thursday. The stock has a market cap of $705.70, a P/E ratio of 137.55 and a beta of 0.23. Ring Energy has a 52 week low of $9.22 and a 52 week high of $15.95.

Ring Energy (NYSEAMERICAN:REI) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.06 earnings per share (EPS) 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%.

In related news, insider Daniel D. Wilson sold 50,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $13.77, for a total value of $688,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kelly W. Hoffman sold 51,238 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $13.79, for a total transaction of $706,572.02. The disclosure for this sale can be found here. Insiders have sold a total of 262,724 shares of company stock valued at $3,727,430 in the last 90 days.

Large investors have recently bought and sold shares of the company. Dalton Greiner Hartman Maher & Co. grew 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 worth $3,377,000 after purchasing an additional 75,194 shares during the period. Perkins Capital Management Inc. grew 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 worth $1,205,000 after purchasing an additional 76,725 shares during the period. Northpointe Capital LLC grew 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 worth $4,102,000 after purchasing an additional 45,142 shares during the period. Mutual of America Capital Management LLC grew its stake 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 during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Ring Energy by 12.0% during the 4th quarter. Fisher Asset Management LLC now owns 226,201 shares of the company’s stock worth $3,144,000 after purchasing an additional 24,307 shares during the period.

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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.

Earnings History and Estimates for Ring Energy (NYSEAMERICAN:REI)

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