Ring Energy (NYSE:REI) Downgraded to “Neutral” at Roth Capital

Roth Capital lowered shares of Ring Energy (NYSE:REIGet Rating) from a buy rating to a neutral rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has $7.50 target price on the stock, up from their previous target price of $4.90.

Separately, StockNews.com lowered Ring Energy from a buy rating to a hold rating in a research report on Saturday.

Ring Energy Stock Down 2.5 %

Shares of NYSE REI opened at $2.74 on Monday. The firm has a 50 day moving average price of $3.34. The stock has a market capitalization of $292.36 million, a price-to-earnings ratio of 12.46 and a beta of 1.96. Ring Energy has a 52 week low of $1.81 and a 52 week high of $5.09. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.91.

Ring Energy (NYSE:REIGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Ring Energy had a return on equity of 14.87% and a net margin of 13.11%. The firm had revenue of $68.18 million for the quarter, compared to analyst estimates of $54.10 million. As a group, research analysts expect that Ring Energy will post 0.87 earnings per share for the current year.

Ring Energy Company Profile

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Ring Energy, Inc, an exploration and production company, engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and New Mexico. As of December 31, 2021, the company's proved reserves consisted of approximately 77.8 million barrel of oil equivalent. It also had interests in 18,882 net developed acres and 1,406 net undeveloped acres in Andrews and Gaines counties, Texas; 18,437 net developed acres in Culberson and Reeves counties, Texas; and 13,662 net developed acres and 11,993 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico.

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