Ring Energy (REI) Earning Somewhat Favorable Media Coverage, Analysis Finds
News coverage about Ring Energy (NYSE:REI) has trended somewhat positive on Sunday, Accern reports. The research firm rates the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ring Energy earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave news headlines about the company an impact score of 45.7654541857828 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Ring Energy (NYSE REI) traded down 0.84% during mid-day trading on Friday, hitting $12.94. 200,542 shares of the company were exchanged. The company has a 50 day moving average of $12.70 and a 200 day moving average of $12.28. Ring Energy has a 12-month low of $8.76 and a 12-month high of $14.14. The stock’s market cap is $700.64 million.
Ring Energy (NYSE:REI) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $14.50 million for the quarter, compared to the consensus estimate of $14.20 million. On average, equities research analysts expect that Ring Energy will post $0.19 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on REI shares. Northland Securities set a $20.00 price target on shares of Ring Energy and gave the stock a “buy” rating in a research note on Monday, August 14th. Roth Capital set a $20.00 price target on shares of Ring Energy and gave the stock a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Ring Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Imperial Capital started coverage on shares of Ring Energy in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $18.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $18.60.
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Ring Energy Company Profile
Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.
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