Ring Energy Inc (NYSEAMERICAN:REI) – Analysts at Capital One Financial lifted their FY2017 earnings per share estimates for shares of Ring Energy in a research note issued to investors on Wednesday. Capital One Financial analyst R. Tullis now anticipates that the company will earn $0.25 per share for the year, up from their prior estimate of $0.23. Capital One Financial also issued estimates for Ring Energy’s Q4 2017 earnings at $0.08 EPS, Q1 2018 earnings at $0.18 EPS and Q2 2018 earnings at $0.23 EPS.
Several other analysts also recently commented on the company. Zacks Investment Research downgraded Ring Energy from a “strong-buy” rating to a “hold” rating in a research note on Saturday. KLR Group began coverage on Ring Energy in a research note on Thursday. They issued a “buy” rating on the stock. Northland Securities set a $18.00 price target on Ring Energy and gave the stock a “buy” rating in a research note on Monday, December 11th. SunTrust Banks restated a “buy” rating and issued a $19.00 price target on shares of Ring Energy in a research note on Friday, November 10th. Finally, Roth Capital set a $20.00 price target on Ring Energy and gave the stock a “buy” rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.29.
Shares of Ring Energy (REI) opened at $15.70 on Friday. Ring Energy has a 52 week low of $9.22 and a 52 week high of $15.92. The company has a market capitalization of $850.31, a price-to-earnings ratio of 142.73 and a beta of 0.79.
A hedge fund recently raised its stake in Ring Energy stock. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Ring Energy Inc (NYSEAMERICAN:REI) by 44.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 242,973 shares of the company’s stock after purchasing an additional 75,194 shares during the period. Dalton Greiner Hartman Maher & Co. owned about 0.45% of Ring Energy worth $3,377,000 at the end of the most recent quarter.
In related news, CFO William Randall Broaddrick sold 75,000 shares of Ring Energy stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $14.02, for a total transaction of $1,051,500.00. Following the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at $701,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rochford Living Trust Lloyd Ti sold 86,486 shares of Ring Energy stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $14.81, for a total value of $1,280,857.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 262,724 shares of company stock worth $3,727,430.
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.
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