Ring Energy Inc (NYSEAMERICAN:REI) – Research analysts at Imperial Capital upped their Q1 2018 earnings per share estimates for Ring Energy in a research report issued to clients and investors on Monday. Imperial Capital analyst J. Wangler now anticipates that the company will post earnings per share of $0.12 for the quarter, up from their previous forecast of $0.11. Imperial Capital also issued estimates for Ring Energy’s Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.17 EPS, Q4 2018 earnings at $0.20 EPS, FY2018 earnings at $0.63 EPS and FY2019 earnings at $1.23 EPS.
A number of other brokerages have also recently issued reports on REI. B. Riley set a $20.00 price objective on shares of Ring Energy and gave the company a “buy” rating in a report on Tuesday. 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. 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. KLR Group started coverage on shares of Ring Energy in a report on Thursday, January 11th. They set a “buy” rating for the company. 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 analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Ring Energy currently has an average rating of “Buy” and a consensus target price of $18.75.
Shares of REI stock opened at $14.37 on Wednesday. The firm has a market cap of $765.35, a P/E ratio of 130.64 and a beta of 0.27. Ring Energy has a 12 month low of $9.22 and a 12 month high of $16.09.
Several institutional investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its holdings in shares of Ring Energy by 73.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 17,995 shares of the company’s stock valued at $250,000 after buying an additional 7,600 shares during the period. Victory Capital Management Inc. lifted its position in shares of Ring Energy by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 132,282 shares of the company’s stock worth $1,839,000 after purchasing an additional 8,620 shares in the last quarter. Ranger Investment Management L.P. lifted its position in shares of Ring Energy by 6.8% in the fourth quarter. Ranger Investment Management L.P. now owns 179,625 shares of the company’s stock worth $2,497,000 after purchasing an additional 11,490 shares in the last quarter. Jefferies Group LLC bought a new stake in shares of Ring Energy in the fourth quarter worth $229,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Ring Energy in the fourth quarter worth $238,000.
In other news, CFO William Randall Broaddrick sold 75,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $701,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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.
Receive News & Ratings for Ring Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ring Energy and related companies with MarketBeat.com's FREE daily email newsletter.