Equities analysts predict that Ring Energy, Inc. (NASDAQ:REI) will post sales of $28.04 million for the current quarter, according to Zacks. Seven analysts have made estimates for Ring Energy’s earnings, with the highest sales estimate coming in at $32.60 million and the lowest estimate coming in at $22.80 million. Ring Energy posted sales of $29.89 million in the same quarter last year, which suggests a negative year over year growth rate of 6.2%. The firm is expected to issue its next earnings report on Tuesday, May 14th.
On average, analysts expect that Ring Energy will report full year sales of $155.11 million for the current financial year, with estimates ranging from $121.49 million to $208.00 million. For the next year, analysts anticipate that the firm will post sales of $218.39 million, with estimates ranging from $147.40 million to $333.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Ring Energy.
Separately, Capital One Financial lowered shares of Ring Energy from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th.
NASDAQ:REI traded down $0.02 on Monday, reaching $5.96. 762,568 shares of the company’s stock were exchanged, compared to its average volume of 585,604. Ring Energy has a 52-week low of $4.01 and a 52-week high of $17.35.
Ring Energy Company Profile
Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.
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