Ring Energy (NYSEAMERICAN:REI) Earns Neutral Rating from Analysts at Mizuho

Mizuho began coverage on shares of Ring Energy (NYSEAMERICAN:REI) in a research note released on Wednesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $2.00 price objective on the stock.

Several other equities analysts also recently issued reports on the stock. Zacks Research downgraded shares of Ring Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Bank of America assumed coverage on shares of Ring Energy in a research note on Wednesday, July 15th. They issued a “buy” rating and a $2.00 target price for the company. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.00.

Ring Energy Price Performance

Ring Energy stock opened at $1.50 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.54 and a quick ratio of 0.49. The stock has a market capitalization of $390.78 million, a price-to-earnings ratio of -1.36, a PEG ratio of 0.32 and a beta of 0.83. Ring Energy has a 1-year low of $0.83 and a 1-year high of $2.00. The business has a fifty day moving average price of $1.29 and a 200-day moving average price of $1.37.

Ring Energy (NYSEAMERICAN:REI) last announced its earnings results on Wednesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $104.68 million for the quarter, compared to analyst estimates of $93.29 million. Ring Energy had a positive return on equity of 5.55% and a negative net margin of 68.02%. Equities research analysts forecast that Ring Energy will post 0.11 EPS for the current fiscal year.

Insider Transactions at Ring Energy

In other news, CEO Paul D. Mckinney acquired 50,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $1.19 per share, with a total value of $59,500.00. Following the completion of the acquisition, the chief executive officer owned 4,158,463 shares of the company’s stock, valued at approximately $4,948,570.97. This trade represents a 1.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Sundip Singh Johl acquired 231,000 shares of Ring Energy stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $1.21 per share, with a total value of $279,510.00. Following the completion of the purchase, the executive vice president owned 548,460 shares of the company’s stock, valued at approximately $663,636.60. The trade was a 72.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Ring Energy

Several institutional investors and hedge funds have recently bought and sold shares of REI. Centiva Capital LP purchased a new stake in shares of Ring Energy in the 3rd quarter valued at $26,000. DGS Capital Management LLC lifted its position in Ring Energy by 65.4% during the fourth quarter. DGS Capital Management LLC now owns 31,196 shares of the company’s stock valued at $27,000 after purchasing an additional 12,331 shares during the period. HRT Financial LP acquired a new position in Ring Energy during the fourth quarter valued at $31,000. Jump Financial LLC purchased a new stake in Ring Energy in the second quarter valued at $31,000. Finally, Jefferies Financial Group Inc. grew its position in Ring Energy by 90.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 36,861 shares of the company’s stock worth $32,000 after purchasing an additional 17,461 shares during the period. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Ring Energy Company Profile

Ring Energy, Inc is an independent oil and natural gas exploration and production company focused on the development, acquisition and operation of upstream assets in the United States. Headquartered in Odessa, Texas, the company concentrates its activities on onshore hydrocarbon plays, where it seeks to optimize production through technical innovation, cost management and disciplined capital allocation. Ring Energy trades on the NYSE American under the ticker symbol REI.

The company’s core operations are centered in the Permian Basin, one of North America’s most prolific oil-producing regions.