Roth Capital reduced the shares by Energy Ring (NYSE: REI – Get a rating) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports. Roth Capital currently has a price target of $7.50 on the stock, up from its previous price target of $4.90.
Separately, StockNews.com downgraded Ring Energy from a buy rating to a hold rating in a research rating on Saturday.
Ring energy stock down 2.5%
Shares of REI opened at $2.74 on Monday. Ring Energy has a 52-week low of $1.81 and a 52-week high of $5.09. The company has a market capitalization of $292.36 million, a P/E ratio of 12.46 and a beta of 1.96. The company has a fifty-day moving average of $3.34. The company has a quick ratio of 0.40, a current ratio of 0.40 and a leverage ratio of 0.91.
Energy Ring (NYSE: REI – Get a rating) last released its results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.21 for the quarter, beating analyst consensus estimates of $0.17 by $0.04. Ring Energy achieved a return on equity of 14.87% and a net margin of 13.11%. The company posted revenue of $68.18 million in the quarter, versus a consensus estimate of $54.10 million. As a group, stock analysts expect Ring Energy to post earnings per share of 0.87 for the current fiscal year.
About Ring Energy
Ring Energy, Inc, an exploration and production company, is engaged in the acquisition, exploration, development and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company’s proven reserves consisted of approximately 77.8 million barrels of oil equivalent. It also held interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels and Coke counties, Texas, and Lea County, New Mexico.
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