Ring Energy, Inc. (NYSE: REI – Get a rating) the stock price was down 4.1% in Thursday’s session. The stock traded as low as $2.26 and last traded at $2.34. About 1,443,265 shares changed hands during trading, down 50% from the average daily volume of 2,885,717 shares. The stock had previously closed at $2.44.
Separately, StockNews.com began covering Ring Energy shares in a research note on Thursday, March 31. They have placed a “holding” rating on the stock.
The company has a debt ratio of 0.91, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization of $249.68 million, a P/E ratio of 10.64 and a beta of 2.02. The stock’s 50-day simple moving average is $3.74.
Energy Ring (NYSE: REI – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported EPS of $0.21 for the quarter, beating consensus analyst estimates of $0.17 by $0.04. The company posted revenue of $68.18 million for the quarter, versus analyst estimates of $54.10 million. Ring Energy posted a net margin of 13.11% and a return on equity of 14.87%. On average, analysts expect Ring Energy, Inc. to post 0.77 earnings per share for the current fiscal year.
Ring Energy Company Profile (NYSE: REI)
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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