Energy Ring (NYSE: REI – Get a rating) was updated by stock analysts to StockNews.com from a “hold” rating to a “buy” rating in a research report released on Friday.
Performance of ring energy stocks
NYSE REI opened at $2.37 on Friday. The company’s 50-day moving average is $3.52. The stock has a market capitalization of $252.88 million, a price-earnings ratio of 10.77 and a beta of 2.02. Ring Energy has a fifty-two week low of $1.81 and a fifty-two week high of $5.09. The company has a debt ratio of 0.91, a current ratio of 0.40 and a quick ratio of 0.40.
Energy Ring (NYSE: REI – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported earnings per share of $0.21 for the quarter, beating consensus analyst estimates of $0.17 by $0.04. The company posted revenue of $68.18 million in the quarter, versus analyst estimates of $54.10 million. Ring Energy achieved a return on equity of 14.87% and a net margin of 13.11%. As a group, analysts expect Ring Energy to post earnings per share of 0.87 for the current 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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