Ring Energy (NYSE:REI) Downgraded by StockNews.com

Ring Energy (NYSE:REIGet Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Ring Energy Stock Up 6.0 %

REI opened at $2.81 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $299.83 million, a price-to-earnings ratio of 12.77 and a beta of 2.02. Ring Energy has a 52 week low of $1.81 and a 52 week high of $5.09. The firm’s fifty day moving average is $3.37.

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