Ring Energy (AMEX:REI) Stock

Ring Energy

Ring Energy Inc is an independent exploration and production company based in The Woodlands, Texas and is engaged in oil and natural gas development, production, acquisition, and exploration activities currently focused in the Permian Basin of Texas. The drilling operations of the company target the oil and liquid rich producing formations in the Northwest Shelf, the Central Basin Platform, and the Delaware Basin all of which are part of the Permian Basin in Texas.

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Ring Energy Inc

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Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) reported quarterly earnings of $0.07 per share which met the analyst consensus estimate. The company reported quarterly sales of $89.200 million which beat the analyst consensus estimate of $86.737 million by 2.84 percent. This is a 4.78 percent decrease over sales of $93.682 million the same period last year.

Earnings

Earnings Beats

Ring Energy Q3 2024 Adj. EPS $0.07, Inline, Sales $89.200M Beat $86.737M Estimate

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) is gearing up to announce its quarterly earnings on Wednesday, 2024-11-06. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Ring Energy will report an earnings per share (EPS) of $0.07.
Ring Energy bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Earnings History Snapshot</h3>
During the last quarter, the company reported an EPS beat by $0.01, leading to a 2.34% drop in the share price on the subsequent day.
Here's a look at Ring Energy's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.11</td>
<td>0.1</td>
<td>0.12</td>
<td>0.12</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.12</td>
<td>0.1</td>
<td>0.11</td>
<td>0.13</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>-9.0%</td>
<td>8.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730836918_0.png" alt="eps graph" />
<h3>Performance of Ring Energy Shares</h3>
Shares of Ring Energy were trading at $1.46 as of November 04. Over the last 52-week period, shares are up 8.93%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/REI/earnings">To track all earnings releases for Ring Energy visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Ring Energy

For the third quarter of 2024, Ring is providing guidance for increased sales volumes, and lower capital spending and operating expense. Ring expects third quarter 2024 sales volumes of 13,200 to 13,800 Bo/d and 19,000 to 19,800 Boe/d (70% oil, 14% natural gas, and 16% NGLs).&nbsp;
The Company is targeting total capital expenditures in third quarter 2024 of $35 million to $45 million, primarily for drilling and completion activity. Additionally, the capital spending program includes funds for targeted capital workovers, infrastructure upgrades, well reactivations, leasing acreage; and non-operated drilling, completion, and capital workovers.
Ring now expects LOE of $10.50 to $11.25 per Boe for both the third quarter and full year. The Company's previous guidance for full year 2024 was $10.50 to $11.50 per Boe.
The guidance in the table below represents the Company's current good faith estimate of the range of likely future results. Guidance could be affected by the factors discussed below in the "Safe Harbor Statement" section.
<figure class="table"> 
<table>
<tbody>
<tr>
<td>Q3</td>
<td>FY</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>2024</td>
<td>2024</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Sales Volumes:</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Total Oil (Bo/d)</td>
<td>13,200 - 13,800</td>
<td>13,200 - 13,800</td>
</tr>
<tr>
<td>Mid Point (Bo/d)</td>
<td>13,500</td>
<td>13,500</td>
</tr>
<tr>
<td>Total (Boe/d)</td>
<td>19,000 - 19,800</td>
<td>19,000 - 19,800</td>
</tr>
<tr>
<td>Mid Point (Boe/d)</td>
<td>19,400</td>
<td>19,400</td>
</tr>
<tr>
<td>Oil (%)</td>
<td>70%</td>
<td>70%</td>
</tr>
<tr>
<td>NGLs (%)</td>
<td>16%</td>
<td>16%</td>
</tr>
<tr>
<td>Gas (%)</td>
<td>14%</td>
<td>14%</td>
</tr>
<tr>
<td>Capital Program:</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Capital spending(1) (millions)</td>
<td>$35 - $45</td>
<td>$141 - $161</td>
</tr>
<tr>
<td>Mid Point (millions)</td>
<td>$40</td>
<td>$151</td>
</tr>
<tr>
<td>New Hz wells drilled</td>
<td>7 - 8</td>
<td>19 - 23</td>
</tr>
<tr>
<td>New Vertical wells drilled</td>
<td>6 - 7</td>
<td>22 - 25</td>
</tr>
<tr>
<td>Wells completed and online</td>
<td>11 - 12</td>
<td>41 - 48</td>
</tr>
<tr>
<td>Operating Expenses:</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>LOE (per Boe)</td>
<td>$10.50 - $11.25</td>
<td>$10.50 - $11.25</td>
</tr>
<tr>
<td>Mid Point (per Boe)</td>
<td>$10.88</td>
<td>$10.88</td>
</tr>
</tbody>
</table>
</figure>

Guidance

Ring Energy Provides Production Guidance

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) reported quarterly earnings of $0.12 per share which beat the analyst consensus estimate of $0.11 by 9.09 percent. The company reported quarterly sales of $99.139 million which beat the analyst consensus estimate of $98.532 million by 0.62 percent. This is a 24.94 percent increase over sales of $79.349 million the same period last year.

Ring Energy Q2 2024 Adj. EPS $0.12 Beats $0.11 Estimate, Sales $99.139M Beat $98.532M Estimate

Prompt-month natural gas futures have exceeded $3 per million British thermal units on Monday, marking the highest level since mid-January 2024 and hitting a potential four-day winning streak, spurred by forecasts predicting increased cooling demand due to anticipated <a href="https://www.benzinga.com/topic/natural-gas">warm weather in June.</a>
Last week, natural gas prices rose by 12.8%, and are currently eyeing the seventh week of gains out of last eight.
&#8220;With a blanket of heat stalling over the southern part of the country, market bulls maintained control,&#8221; said Jodi Shafto, senior natural gas reporter at Natural Gas Intel.
Chart: US Natural Gas Price Have Rallied 95% Since Late April&#8217;s Lows
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10114654/image-25-1024x500.png" alt="" class="wp-image-380056" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10114654/image-25-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10114654/image-25-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10114654/image-25-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10114654/image-25-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/10114654/image-25.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
NatGasWeather highlighted that much of the country is expected to experience temperatures ranging from the upper 70s and 80s in the Midwest and Northeast to the upper 80s and 90s elsewhere, with extreme heat in California and Texas reaching the mid-100s.
The American forecast model predicts significantly above-average temperatures from Monday, June 17 to Monday, June 24. 
"Either way, the pattern is hot enough for stronger-than-normal demand," NatGasWeather said. This trend is anticipated to reduce natural gas storage surpluses to around 450 billion cubic feet (Bcf) or slightly below by the end of the month, according to NatGasWeather.
In the week ending May 31, U.S. utilities added 98 Bcf of gas to storage, surpassing market expectations of an 89 Bcf increase. This was the ninth consecutive week of seasonal storage increases, bringing the total stockpiles to 2,893 Bcf. This level is 373 Bcf higher than the same period last year and 581 Bcf, or 25%, above the five-year average of 2,312 Bcf.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The weekend GFS lost a few CDDs, although the ECMWF gained a few. Both forecast light to moderate national demand through Thursday but then both are quite hot with the US pattern for the 3rd week of June, just with the EC numerous CDDs hotter compared to the GFS. <a href="https://twitter.com/hashtag/natgas?src=hash&amp;ref_src=twsrc%5Etfw">#natgas</a> <a href="https://t.co/d28vw0jcka">pic.twitter.com/d28vw0jcka</a>
&mdash; NatGasWeather.com (@NatGasWeather) <a href="https://twitter.com/NatGasWeather/status/1799878153105715478?ref_src=twsrc%5Etfw">June 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers In The Energy Sector</h3>
Companies involved in the natural gas market outperformed oil-related stocks on Monday. 
<ul>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) skyrocketed 13.5%, extending a 5-day rally started last week following rumors that Saudi giant Aramco was in discussion with the company for a liquified natural gas (LNG) project. </li>
<li>Ring Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REI#NYSE">REI</a>) rallied 3.9%</li>
<li>Comstock Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRK#NYSE">CRK</a>), soared 3.8%</li>
<li>Matador Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTD#NYSE">MTD</a>) was up 3.7%</li>
<li>Antero Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) rose 3.5%.</li>
<li>Obsidian Energy Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OBE#NYSE">OBE</a>) was 3.1% higher. </li>
</ul>
The United States Natural Gas Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>), which mirrors the performance of Henry Hub natural gas prices, increased by 4.7%, while the First Trust Natural Gas ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCG#NYSE">FCG</a>), tracking the performance of 48 natural gas companies, rose by 2%.
The broader Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) rose 1.1%. 
Read now: <a href="https://www.benzinga.com/markets/equities/24/05/38968653/exxons-texas-lng-project-faces-major-setback-as-lead-contractor-files-for-bankruptcy">Exxon&#8217;s Texas LNG Project Faces Major Setback As Lead Contractor Files For Bankruptcy</a>
Image generated using artificial intelligence via Midjourney.

For full year 2024, Ring continues to expect total capital spending of&nbsp;$135 million&nbsp;to&nbsp;$175 million.&nbsp;The Company forecasts full year 2024 oil sales volumes of 12,600 to 13,300 Bo/d compared with full year 2023 oil sales volumes of 12,548 Bo/d, with the mid-point of&nbsp;guidance&nbsp;reflecting a&nbsp;3%&nbsp;increase.
Ring expects&nbsp;second quarter&nbsp;2024 sales volumes of 13,000 to 13,400 Bo/d and 18,500 to 19,100 Boe/d (70%&nbsp;oil,&nbsp;15%&nbsp;natural gas, and&nbsp;15%&nbsp;NGLs). The Company is targeting total capital expenditures in the&nbsp;second quarter&nbsp;of 2024 of&nbsp;$37 million&nbsp;to&nbsp;$42 million.

Ring Energy Reiterates Full Year 2024 Guidance

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) reported quarterly earnings of $0.10 per share which met the analyst consensus estimate. This is a 23.08 percent decrease over earnings of $0.13 per share from the same period last year. The company reported quarterly sales of $94.503 million which beat the analyst consensus estimate of $91.158 million by 3.67 percent. This is a 7.29 percent increase over sales of $88.083 million the same period last year.

Ring Energy Q1 2024 GAAP EPS $0.10, Inline, Sales $94.503M Beat $91.158M Estimate

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) reported quarterly earnings of $0.110 per share which missed the analyst consensus estimate of $0.120 by 8.33 percent. The company reported quarterly sales of $99.943 million which beat the analyst consensus estimate of $97.121 million by 2.91 percent. This is a 0.25 percent increase over sales of $99.698 million the same period last year.

Earnings Misses

Ring Energy Q4 2023 Adj EPS $0.110 Misses $0.120 Estimate, Sales $99.943M Beat $97.121M Estimate

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) is set to give its latest quarterly earnings report on Thursday, 2024-03-07. Here's what investors need to know before the announcement.
Analysts estimate that Ring Energy will report an earnings per share (EPS) of $0.12. 
Ring Energy bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.01, which was followed by a 2.84% drop in the share price the next day.
Here's a look at Ring Energy's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.12</td>
<td>0.10</td>
<td>0.12</td>
<td>0.16</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.13</td>
<td>0.14</td>
<td>0.14</td>
<td>0.13</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>-7.000000000000001%</td>
<td>5.0%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1709740891_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Ring Energy were trading at $1.4 as of March 05. Over the last 52-week period, shares are down 29.4%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/REI/earnings">To track all earnings releases for Ring Energy visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Ring Energy

Ring Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REI#NYSE">REI</a>) (&quot;Ring&quot; or the &quot;Company&quot;) today provided an operational and financial update for the&nbsp;fourth quarter&nbsp;of 2023, as well as production and capital spending&nbsp;guidance&nbsp;for the&nbsp;first quarter&nbsp;of 2024.
Key&nbsp;Highlights
<ul>
<li>Fourth quarter&nbsp;2023 sales volumes were approximately 19,400 barrels of oil equivalent per day (&quot;Boe/d&quot;) (70%&nbsp;oil), near the high end of the Company&#39;s&nbsp;guidance, which was 18,900 to 19,500 Boe/d;</li>
<li>Positively impacting&nbsp;fourth quarter&nbsp;sales was three full months of production from the recently completed acquisition of the Founders Oil &amp; Gas IV, LLC (&quot;Founders&quot; and the &quot;Founders Acquisition&quot;) assets that closed on August 15, 2023, as well as the success of the Company&#39;s 2023 development program that concluded in late November;</li>
<li>Further reduced debt by&nbsp;$3.0 million&nbsp;in the&nbsp;fourth quarter&nbsp;of 2023, while also funding the&nbsp;$11.9 million&nbsp;final payment in December for the Founders Acquisition;
<ul>
<li>Ended 2023 with&nbsp;$425 million&nbsp;of borrowings against the Company&#39;s credit facility;</li>
</ul>
</li>
<li>Guiding&nbsp;first quarter&nbsp;2024 average sales to be 18,000 to 18,500 Boe/d (~69%&nbsp;oil);
<ul>
<li>Impacting the Company&#39;s sales to date was deferred production of approximately 1,900 Boe/d for 10 days, which was associated with recent severe cold winter weather. Production has since been restored;</li>
<li>Ring completed its 2023 drilling program in late November and initiated its 2024 program in early January, with the first well expected to be online in February; and</li>
</ul>
</li>
<li>Anticipate&nbsp;first quarter&nbsp;capital spending of&nbsp;$37 million&nbsp;to&nbsp;$42 million, primarily associated with a phased, two-rig drilling program (one horizontal and one vertical);
<ul>
<li>Plan to drill four to five horizontal wells and four to six vertical wells. 
		&nbsp;</li>
</ul>
</li>
</ul>
Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, &quot;We enjoyed record sales during the&nbsp;fourth quarter&nbsp;of 2023 near the high end of&nbsp;guidance, but more importantly exceeded the high end of our expectations for crude oil sales. The result was an outstanding&nbsp;fourth quarter&nbsp;and we look forward to reporting our full results in early March. Contributing to our success in the period was a full quarter of production impact from our recent Founders Acquisition, as well as the ongoing success of our 2023 drilling program that concluded in late November. In addition, we paid down debt by&nbsp;$3.0 million&nbsp;while making our final deferred payment of&nbsp;$11.9 million&nbsp;for the Founders Acquisition. Debt reduction remains a key priority for the Company, and our targeted acquisitions in 2022 and 2023 are allowing us to pay down debt at a much faster rate than we would have done on a standalone basis.&quot;
Mr. McKinney concluded, &quot;As we enter 2024, we intend to retain the flexibility to adjust capital spending levels commensurate with changing oil and gas prices. We began 2024 with a phased, two-rig drilling program, targeting our highest rate-of-return horizontal and vertical drilling inventory. This approach provides us with the flexibility necessary to respond to changing market conditions. As in the past, our efforts are squarely focused on enhancing the financial position of the Company, with further debt reduction a top priority. We appreciate the support of our stockholders and look forward to a successful 2024.&quot;

Ring Energy Reports Record Fourth Quarter Sales, Achieving Near-Top Guidance and Debt Reduction

Ring Energy Disclosed The Borrowing Base Being Reaffirmed At $600M Under Its $1.0B Senior Revolving Credit Facility

Disclosed in the latest SEC filing, a significant insider purchase on December 4, involves John A Crum, Board Member at Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>).
What Happened: In a Form 4 filing on Monday with the <a href="https://www.sec.gov/Archives/edgar/data/0001384195/000162828023040646//Archives/edgar/data/1384195/000162828023040646/0001628280-23-040646-index.htm">U.S. Securities and Exchange Commission</a>, it was disclosed that Crum bought 50,000 shares of Ring Energy, amounting to a total of $83,700.
Ring Energy's shares are actively trading at $1.58, experiencing a down of 0.0% during Tuesday's morning session.
<h3>All You Need to Know About Ring Energy</h3>
Ring Energy Inc is an independent exploration and production company based in The Woodlands, Texas and is engaged in oil and natural gas development, production, acquisition, and exploration activities currently focused in the Permian Basin of Texas. The drilling operations of the company target the oil and liquids rich producing formations in the Northwest Shelf, the Central Basin Platform, and the Delaware Basin all of which are part of the Permian Basin in Texas.
<h3>A Deep Dive into Ring Energy's Financials</h3>
Revenue Growth: Ring Energy's revenue growth over a period of 3 months has faced challenges. As of 30 September, 2023, the company experienced a revenue decline of approximately -0.77%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Energy sector.
Profitability Metrics:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 50.18%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): With an EPS below industry norms, Ring Energy exhibits below-average bottom-line performance with a current EPS of -0.04.
</li>
</ul>
Debt Management: Ring Energy's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.59.
Evaluating Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 5.85 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a P/S ratio of 0.82 below industry standards, the stock shows potential undervaluation, making it an appealing investment option for those focusing on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Ring Energy's EV/EBITDA ratio of 3.91 exceeds industry averages, indicating a premium valuation in the market
</li>
</ul>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
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<h3>Illuminating the Importance of Insider Transactions</h3>
While insider transactions should not be the sole basis for making investment decisions, they can play a significant role in an investor's decision-making process.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Unlocking the Meaning of Transaction Codes</h3>
Surveying the realm of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often give prominence to those unfolding in the open market, systematically detailed in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C denotes the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001384195">Check Out The Full List Of Ring Energy's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Smart Money Move: John A Crum Grabs $83K Worth Of Ring Energy Stock

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) reported quarterly earnings of $0.13 per share which beat the analyst consensus estimate of $0.12 by 8.33 percent. This is a 53.57 percent decrease over earnings of $0.28 per share from the same period last year. The company reported quarterly sales of $93.68 million which beat the analyst consensus estimate of $87.23 million by 7.40 percent. This is a 0.77 percent decrease over sales of $94.41 million the same period last year.

Ring Energy Q3 2023 Adj EPS $0.13 Beats $0.12 Estimate, Sales $93.68M Beat $87.23M Estimate

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) is set to give its latest quarterly earnings report on Thursday, 2023-11-02. Here's what investors need to know before the announcement.
Analysts estimate that Ring Energy will report an earnings per share (EPS) of $0.12. 
Ring Energy bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.04, which was followed by a 6.64% drop in the share price the next day.
Here's a look at Ring Energy's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.10</td>
<td>0.12</td>
<td>0.16</td>
<td>0.24</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.14</td>
<td>0.14</td>
<td>0.13</td>
<td>0.28</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-6.64%</td>
<td>4.73%</td>
<td>-1.51%</td>
<td>8.97%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1698865277_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Ring Energy were trading at $1.74 as of October 31. Over the last 52-week period, shares are down 44.03%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/REI/earnings">To track all earnings releases for Ring Energy visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Ring Energy's Earnings Outlook

Anthony B. Petrelli, Director at Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>), reported a large insider buy on September 13, according to a new SEC filing. 
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0001384195/000162828023032216//Archives/edgar/data/1384195/000162828023032216/0001628280-23-032216-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday showed that Petrelli purchased 50,000 shares of Ring Energy. The total transaction amounted to $95,980. 
Ring Energy shares are trading up 2.76% at $2.04 at the time of this writing on Thursday morning.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Why Insider Transactions Are Important</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Transaction Codes To Focus On</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001384195">Check Out The Full List Of Ring Energy's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Director of Ring Energy Purchased $95K In Stock

<h3>What is a Value Stock?</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>Benzinga Insights has compiled a list of value stocks in the energy sector that may be worth watching:</h2>
<ol>
<li>Liberty Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>) - P/E: 4.72</li>
<li>US Silica Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLCA#NYSE">SLCA</a>) - P/E: 6.33</li>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) - P/E: 4.9</li>
<li>Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) - P/E: 2.05</li>
<li>Granite Ridge Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRNT#NYSE">GRNT</a>) - P/E: 5.82</li>
</ol>
This quarter, Liberty Energy experienced a decrease in earnings per share, which was $0.9 in Q1 and is now $0.87. Its most recent dividend yield is at 1.32%, which has decreased by 0.19% from 1.51% in the previous quarter.
This quarter, US Silica Holdings experienced a decrease in earnings per share, which was $0.64 in Q1 and is now $0.6. Most recently, the company reported a dividend yield of 1.33%, which has decreased by 3.15% from last quarter's yield of 4.48%.
This quarter, Phillips 66 experienced a decrease in earnings per share, which was $4.21 in Q1 and is now $3.87. The company's most recent dividend yield sits at 4.14%, which has decreased by 0.33% from 4.47% last quarter. 
Ring Energy looks to be undervalued. It possesses an EPS of $0.14, which has not changed since last quarter (Q1). Most recently, Granite Ridge Resources reported earnings per share at $0.19, whereas in Q1 earnings per share sat at $0.21. Its most recent dividend yield is at 5.64%, which has decreased by 2.65% from 8.29% in the previous quarter.
These 5 value stocks were selected by Benzinga Insights based on quantified analysis. While this methodical judgment process is not meant to make final decisions, our technology can give investors additional perception into the sector.

GRNT

LBRT

SLCA

A Look Into Energy Sector Value Stocks

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) reported quarterly earnings of $0.14 per share which beat the analyst consensus estimate of $0.10 by 40 percent. This is a 51.72 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $79.35 million which missed the analyst consensus estimate of $85.00 million by 6.65 percent. This is a 6.61 percent decrease over sales of $84.96 million the same period last year.

Ring Energy Q2 Adj EPS $0.14 Beats $0.10 Estimate, Sales $79.35M Miss $85.00M Estimate

Ring Energy Says Q2 2023 Sold 17,271 Barrels Of Oil Equivalent Per Day

Ring Energy (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/REI#AMEX">REI</a>) is set to give its latest quarterly earnings report on Thursday, 2023-08-03. Here's what investors need to know before the announcement.
Analysts estimate that Ring Energy will report an earnings per share (EPS) of $0.10. 
Ring Energy bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.02, which was followed by a 4.73% increase in the share price the next day.
Here's a look at Ring Energy's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
<th>Q2 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.12</td>
<td>0.16</td>
<td>0.24</td>
<td>0.23</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.14</td>
<td>0.13</td>
<td>0.28</td>
<td>0.29</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.73%</td>
<td>-1.51%</td>
<td>10.03%</td>
<td>9.48%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1691006478_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Ring Energy were trading at $2.34 as of August 01. Over the last 52-week period, shares are down 14.31%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/REI/earnings">To track all earnings releases for Ring Energy visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Ring Energy's Earnings

WIIM

Ring Energy shares are trading higher after the company announced it has entered into an agreement to acquire the Central Basin Platform assets of Founders Oil & Gas IV for $75 million in cash.

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