Ring Energy (REI) Earning Favorable Press Coverage, Analysis Finds

Press coverage about Ring Energy (NYSE:REI) has trended positive recently, AlphaOne reports. The research firm, a subsidiary of Accern, rates the sentiment of news coverage by reviewing more than twenty million news and blog sources in real time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ring Energy earned a news sentiment score of 0.33 on AlphaOne’s scale. AlphaOne also assigned news stories about the company an impact score of 63 out of 100, meaning that recent news coverage is somewhat likely to have an impact on the company’s share price in the near future.

Several equities analysts have recently commented on REI shares. Roth Capital set a $19.00 price objective 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. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $17.00 price objective (up from $15.00) on shares of Ring Energy in a report on Saturday, April 22nd. Finally, Canaccord Genuity restated a “buy” rating on shares of Ring Energy in a report on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $16.79.

Ring Energy (NYSE:REI) traded up 2.84% during midday trading on Tuesday, reaching $13.38. 1,662,488 shares of the company’s stock were exchanged. Ring Energy has a 52 week low of $7.48 and a 52 week high of $14.14. The firm’s market capitalization is $657.84 million. The stock’s 50 day moving average is $12.73 and its 200 day moving average is $12.34.

Ring Energy (NYSE:REI) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $12.24 million for the quarter, compared to analysts’ expectations of $11.47 million. On average, analysts expect that Ring Energy will post $0.27 EPS for the current fiscal year.

In other Ring Energy news, CEO Kelly W. Hoffman sold 60,000 shares of the business’s stock in a transaction that occurred 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 directly owns 67,546 shares in the company, valued at $810,552. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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