Wall Street brokerages expect that Ring Energy (NYSE:REI) will report sales of $15.37 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Ring Energy’s earnings, with the lowest sales estimate coming in at $14.60 million and the highest estimate coming in at $16.26 million. Ring Energy posted sales of $7.11 million during the same quarter last year, which suggests a positive year-over-year growth rate of 116.2%. The company is expected to issue its next quarterly earnings report on Monday, August 14th.

On average, analysts expect that Ring Energy will report full-year sales of $15.37 million for the current fiscal year, with estimates ranging from $65.20 million to $84.00 million. For the next year, analysts forecast that the company will post sales of $143.97 million per share, with estimates ranging from $124.00 million to $169.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Ring Energy.

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 business had revenue of $12.24 million during the quarter, compared to the consensus estimate of $11.47 million.

A number of equities research analysts have recently issued reports on REI shares. Canaccord Genuity reaffirmed a “buy” rating on shares of Ring Energy in a report on Wednesday, April 5th. Roth Capital set a $19.00 target price on shares of Ring Energy and gave the stock a “buy” rating in a report on Thursday, March 16th. Zacks Investment Research lowered shares of Ring Energy from a “hold” rating to a “sell” rating in a report on Wednesday, March 1st. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $17.00 target price (up previously from $15.00) on shares of Ring Energy in a report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Ring Energy currently has an average rating of “Buy” and an average price target of $16.79.

In other news, CEO Kelly W. Hoffman sold 60,000 shares of the company’s stock in a transaction on Wednesday, April 19th. The shares were 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 owns 67,546 shares of the company’s stock, valued at $810,552. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Several large investors have recently made changes to their positions in REI. FMR LLC raised its stake in shares of Ring Energy by 25.0% in the fourth quarter. FMR LLC now owns 2,100,848 shares of the company’s stock worth $27,290,000 after buying an additional 420,200 shares in the last quarter. Formula Growth Ltd. raised its stake in shares of Ring Energy by 29.9% in the first quarter. Formula Growth Ltd. now owns 2,077,964 shares of the company’s stock worth $22,484,000 after buying an additional 478,125 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Ring Energy by 9.6% in the first quarter. Vanguard Group Inc. now owns 1,913,458 shares of the company’s stock worth $20,704,000 after buying an additional 167,435 shares in the last quarter. Cannell Capital LLC raised its stake in shares of Ring Energy by 2.8% in the first quarter. Cannell Capital LLC now owns 1,767,301 shares of the company’s stock worth $19,122,000 after buying an additional 48,097 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its stake in shares of Ring Energy by 18.3% in the first quarter. Hodges Capital Management Inc. now owns 1,418,125 shares of the company’s stock worth $15,344,000 after buying an additional 219,540 shares in the last quarter.

Ring Energy (NYSE REI) traded up 4.07% on Friday, reaching $12.28. 836,443 shares of the company’s stock traded hands. Ring Energy has a 12-month low of $7.48 and a 12-month high of $14.14. The stock’s market cap is $603.76 million. The stock has a 50 day moving average price of $12.87 and a 200 day moving average price of $12.34.

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