Ring Energy Inc to Post FY2017 Earnings of $0.21 Per Share, B. Riley Forecasts (REI)
Ring Energy Inc (NYSEAMERICAN:REI) – Stock analysts at B. Riley issued their FY2017 EPS estimates for shares of Ring Energy in a report issued on Monday. B. Riley analyst R. Rashid expects that the company will post earnings of $0.21 per share for the year. B. Riley currently has a “Buy” rating and a $22.00 target price on the stock. B. Riley also issued estimates for Ring Energy’s Q4 2017 earnings at $0.09 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.30 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.14 EPS, Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.64 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $2.41 EPS.
Several other analysts have also recently issued reports on REI. Northland Securities set a $20.00 target price on Ring Energy and gave the company a “buy” rating in a report on Saturday, October 21st. SunTrust Banks restated a “buy” rating and issued a $19.00 target price on shares of Ring Energy in a report on Friday, November 10th. KLR Group initiated coverage on Ring Energy in a report on Thursday, December 21st. They issued a “buy” rating and a $20.00 target price for the company. Zacks Investment Research upgraded Ring Energy from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a report on Thursday, January 11th. Finally, Roth Capital set a $22.00 price target on Ring Energy and gave the stock a “buy” rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Ring Energy currently has a consensus rating of “Buy” and a consensus target price of $19.00.
Ring Energy (NYSEAMERICAN:REI) last issued its earnings results on Wednesday, November 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Ring Energy had a return on equity of 3.75% and a net margin of 18.47%.
In other news, CFO William Randall Broaddrick sold 75,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $701,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rochford Living Trust Lloyd Ti sold 86,486 shares of the stock in a transaction on Tuesday, December 5th. The stock was 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 quarter, insiders have sold 262,724 shares of company stock valued at $3,727,430.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas acquired a new position in Ring Energy during the 4th quarter worth about $238,000. Perkins Capital Management Inc. lifted its stake in Ring Energy by 767.3% during the 4th quarter. Perkins Capital Management Inc. now owns 86,725 shares of the company’s stock worth $1,205,000 after acquiring an additional 76,725 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Ring Energy by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 132,282 shares of the company’s stock worth $1,839,000 after acquiring an additional 8,620 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Ring Energy by 12.0% during the 4th quarter. Fisher Asset Management LLC now owns 226,201 shares of the company’s stock worth $3,144,000 after acquiring an additional 24,307 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. lifted its stake in Ring Energy by 44.8% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 242,973 shares of the company’s stock worth $3,377,000 after acquiring an additional 75,194 shares in the last quarter.
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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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