Ring Energy (NYSE:REI) Earning Somewhat Favorable Press Coverage, Accern Reports
News articles about Ring Energy (NYSE:REI) have been trending somewhat positive this week, Accern reports. Accern ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Ring Energy earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 100 out of 100, meaning that recent news coverage is extremely likely to have an effect on the company’s share price in the next few days.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- ETFs with exposure to Ring Energy, Inc. : July 14, 2017 (finance.yahoo.com)
- Zacks: Analysts Anticipate Ring Energy (REI) Will Post Quarterly Sales of $14.84 Million (americanbankingnews.com)
- Ring Energy, Inc. breached its 50 day moving average in a Bearish Manner : REI-US : July 13, 2017 (finance.yahoo.com)
- Ring Energy, Inc. Releases Second Quarter 2017 Operations Update (finance.yahoo.com)
- Ring Energy (REI) Short Interest Up 12.5% in June (americanbankingnews.com)
Ring Energy (REI) traded down 1.21% during mid-day trading on Friday, hitting $13.03. The stock had a trading volume of 263,482 shares. The firm’s market capitalization is $640.63 million. The stock’s 50 day moving average price is $12.79 and its 200 day moving average price is $12.32. Ring Energy has a one year low of $7.48 and a one year high of $14.14.
Ring Energy (NYSE:REI) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The firm had revenue of $12.24 million for the quarter, compared to analyst estimates of $11.47 million. Analysts forecast that Ring Energy will post $0.21 EPS for the current year.
REI has been the topic of several recent analyst reports. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $17.00 price target (up from $15.00) on shares of Ring Energy in a research report on Saturday, April 22nd. Roth Capital set a $19.00 price objective on Ring Energy and gave the company a “buy” rating in a research report on Monday, April 17th. Canaccord Genuity restated a “buy” rating on shares of Ring Energy in a research report on Wednesday, April 5th. Finally, Zacks Investment Research cut Ring Energy from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $16.79.
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In related news, CEO Kelly W. Hoffman sold 60,000 shares of Ring Energy stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $12.00, for a total transaction of $720,000.00. Following the completion of the sale, the chief executive officer now directly owns 67,546 shares of the company’s stock, valued at approximately $810,552. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
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