Ring Energy (REI) to Release Earnings on Thursday

Ring Energy (NYSEAMERICAN:REI) is expected to post its quarterly earnings results before the market opens on Thursday, March 6th. Analysts expect Ring Energy to post earnings of $0.09 per share and revenue of $85.41 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Ring Energy Trading Up 0.8 %

Ring Energy stock opened at $1.28 on Thursday. The company has a market capitalization of $253.70 million, a P/E ratio of 2.25 and a beta of 1.55. Ring Energy has a 1-year low of $1.21 and a 1-year high of $2.20. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.46.

Insider Activity

In related news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $1.23, for a total transaction of $8,087,250.00. Following the transaction, the insider now owns 28,945,643 shares of the company’s stock, valued at approximately $35,603,140.89. This trade represents a 18.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Ring Energy Company Profile

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.