Ring Energy (REI) to Release Quarterly Earnings on Wednesday

Ring Energy (NYSEAMERICAN:REI) is anticipated to announce its earnings results before the market opens on Wednesday, March 5th. Analysts expect the company to announce earnings of $0.09 per share and revenue of $85.41 million for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Ring Energy Stock Down 6.3 %

REI opened at $1.20 on Tuesday. The company has a market cap of $237.84 million, a price-to-earnings ratio of 2.11 and a beta of 1.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.49. Ring Energy has a one year low of $1.18 and a one year high of $2.20.

Insider Transactions at Ring Energy

In related news, major shareholder Warburg Pincus (E&P) Xii Llc sold 6,575,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $1.23, for a total value of $8,087,250.00. Following the sale, the insider now owns 28,945,643 shares in the company, valued at $35,603,140.89. This represents a 18.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Ring Energy from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Ring Energy Company Profile

Ring Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico.