Ring Energy Inc (NYSEAMERICAN:REI) – Investment analysts at Capital One Financial cut their FY2020 earnings estimates for shares of Ring Energy in a report issued on Tuesday, March 10th. Capital One Financial analyst R. Tullis now expects that the company will post earnings per share of $0.11 for the year, down from their prior forecast of $0.24.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Ring Energy from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. SunTrust Banks downgraded shares of Ring Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $5.00 to $1.00 in a research note on Monday, March 9th. Northland Securities downgraded shares of Ring Energy from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Roth Capital downgraded shares of Ring Energy to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $2.66.
Ring Energy stock opened at $0.87 on Friday. Ring Energy has a fifty-two week low of $0.58 and a fifty-two week high of $6.26. The firm has a 50 day moving average of $1.65.
Several large investors have recently bought and sold shares of REI. Marshall Wace LLP purchased a new stake in shares of Ring Energy during the 1st quarter worth $208,000. Rhumbline Advisers lifted its position in shares of Ring Energy by 3.2% during the 3rd quarter. Rhumbline Advisers now owns 201,917 shares of the company’s stock worth $331,000 after purchasing an additional 6,258 shares during the last quarter. State Street Corp lifted its position in shares of Ring Energy by 6.9% during the 3rd quarter. State Street Corp now owns 1,845,535 shares of the company’s stock worth $3,027,000 after purchasing an additional 118,420 shares during the last quarter. Ancora Advisors LLC purchased a new stake in shares of Ring Energy during the 3rd quarter worth $410,000. Finally, Barclays PLC lifted its position in shares of Ring Energy by 151.6% during the 3rd quarter. Barclays PLC now owns 212,235 shares of the company’s stock worth $349,000 after purchasing an additional 127,891 shares during the last quarter.
Ring Energy Company Profile
Ring Energy, Inc, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2018, the company’s proved reserves consisted of approximately 36.6 million barrel of oil equivalent. As of the above date, it also had interests in 17,408 net developed acres and 58,620 net undeveloped acres in Andrews and Gaines counties; and 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties.