Ring Energy (NYSEAMERICAN:REI) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Ring Energy (NYSEAMERICAN:REI) announced its quarterly earnings data on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04), reports. The business had revenue of $99.94 million during the quarter, compared to analysts’ expectations of $95.39 million. Ring Energy had a return on equity of 12.75% and a net margin of 29.04%.

Ring Energy Stock Up 7.6 %

Ring Energy stock traded up $0.11 during mid-day trading on Friday, hitting $1.56. The company’s stock had a trading volume of 4,411,701 shares, compared to its average volume of 1,311,248. The company has a market cap of $305.18 million, a P/E ratio of 3.02 and a beta of 1.72. The company has a current ratio of 0.39, a quick ratio of 0.35 and a debt-to-equity ratio of 0.58. Ring Energy has a 52-week low of $1.25 and a 52-week high of $2.43.

Institutional Investors Weigh In On Ring Energy

Several hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in Ring Energy in the 4th quarter worth about $103,000. Price T Rowe Associates Inc. MD raised its stake in shares of Ring Energy by 93.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 124,203 shares of the company’s stock worth $182,000 after purchasing an additional 60,024 shares in the last quarter. Barclays PLC raised its stake in shares of Ring Energy by 558.0% during the 4th quarter. Barclays PLC now owns 164,737 shares of the company’s stock worth $240,000 after purchasing an additional 139,701 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Ring Energy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 4,005,872 shares of the company’s stock worth $5,849,000 after purchasing an additional 50,690 shares in the last quarter. Finally, Warburg Pincus LLC raised its stake in shares of Ring Energy by 8.2% during the 4th quarter. Warburg Pincus LLC now owns 46,120,643 shares of the company’s stock worth $67,336,000 after purchasing an additional 3,479,865 shares in the last quarter. 46.98% of the stock is owned by hedge funds and other institutional investors.

Ring Energy Company Profile

Ring Energy, Inc, an independent exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. It had interests in 54,959 net developed acres and 2,337 net undeveloped acres in Andrews, Gaines, Crane, Winkler, and Ward counties, Texas; and 13,930 net developed acres and 12,512 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.