Ring Energy Inc(NYSEMKT:REI) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Mar 15, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $9.831M. Analysts estimated a revenue of $9.890M. The revenues were -0.6% below the estimates. Earnings per share were $-0.01. The reported EPS was below estimates by -150%. Analysts had estimated an EPS of $0.02.
Ring Energy Inc (REI) shares turned negative on Fridays trading session with the shares closing down -0.34 points or -3.17% at a volume of 9,20,992. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.96. The peak price level was also seen at $10.96 while the days lowest was $10.27. Finally the shares closed at $10.38. The 52-week high of the shares is $14.1 while the 52-week low is $4.76. According to the latest information available, the market cap of the company is $510 M.
Several Insider Transactions has been reported to the SEC. On Oct 16, 2015, David A. Fowler (President) sold 13,000 shares at $10.26 per share price.Also, On Mar 26, 2015, Kelly W. Hoffman (CEO) sold 20,000 shares at $10.14 per share price.
Ring Energy Inc. (Ring) is an exploration and production company. The Company is engaged in oil and natural gas acquisition exploration development and production activities. As of December 31 2014 the Company’s exploration and production interests were focused in Texas and Kansas. The Company’s primary drilling operations target the Central Basin Platform in Andrews County and Gaines County Texas. As of December 31 2014 Ring had 29738 gross (17270 net) acres in the counties of Texas. As of December 31 2014 Ring owned interests in a total of 5835 gross (5129 net) developed acres and 23903 gross (12141 net) undeveloped acres in Texas. As of December 31 2014 the Company also had 18277 gross (17017 net) acres in Kansas located is located in Gray Finney and Haskell counties. As of December 31 2014 Ring’s proved reserves were 10.4 million barrels of oil equivalent (BOE) with 98% consisting of oil and 2% consisting of natural gas.