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, 2020, the company's proved reserves consisted of approximately 76.5 million barrel of oil equivalent. It also had interests in 18,712 net developed acres and 6,650 net undeveloped acres in Andrews and Gaines counties, Texas; 18,256 net developed acres and 212 net undeveloped acres in Culberson and Reeves counties, Texas; and 8,085 net developed acres and 24,830 net undeveloped acres in Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico. Ring Energy, Inc. primarily sells its oil and natural gas production to end users, marketers, and other purchasers. The company was formerly known as Transglobal Mining Corp. and changed its name to Ring Energy, Inc. in March 2008. Ring Energy, Inc. was incorporated in 2004 and is headquartered in Midland, Texas.
IPO Year:
Exchange: AMEX
Website: ringenergy.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/1/2022 | $4.90 → $7.50 | Buy → Neutral | ROTH Capital |
| 10/14/2021 | $4.75 | Neutral → Buy | ROTH Capital |
ROTH Capital downgraded Ring Energy from Buy to Neutral and set a new price target of $7.50 from $4.90 previously
ROTH Capital upgraded Ring Energy from Neutral to Buy and set a new price target of $4.75
Alliance Global Partners resumed coverage of Ring Energy with a rating of Buy
~ Q3 2024 Highlighted by Record Sales, Strategic Divestiture and Meaningful Debt Reduction ~ THE WOODLANDS, Texas, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today reported operational and financial results for third quarter 2024 and provided an outlook for the fourth quarter and updated guidance for the full year. Third Quarter 2024 Highlights Produced record sales of 20,108 barrels of oil equivalent per day ("Boe/d") (66% oil) exceeding the high end of guidance;Oil sales were 13,204 Bo/d which were within guidance;Reported net income of $33.9 million, or $0.17 per diluted share, and Adjusted Net Income1 of $13.4 million, or $0.07 per dilut
THE WOODLANDS, Texas, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced the timing of its third quarter 2024 earnings release and conference call. Ring plans to issue its third quarter 2024 earnings release after the close of trading on Wednesday, November 6, 2024. The Company has scheduled a conference call on Thursday, November 7, 2024 at 11:00 a.m. central to discuss its third quarter 2024 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the "Ring Energy Third Quarter 2024 Earnings Conference Call". International caller
THE WOODLANDS, Texas, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced its participation in a fireside chat with Water Tower Research ("WTR") on Wednesday, October 16, 2024 at 10:00 AM Central Time. As part of WTR's ongoing Fireside Chat Series, Jeff Robertson, Managing Director at WTR, will lead an in-depth conversation with Paul McKinney, Ring's Chairman and Chief Executive Officer. Included in the discussion will be a variety of important topics including capital allocation optionality provided by organic development opportunities, the results to date of the Company's 2024 drilling program, the current state and expected mergers a
THE WOODLANDS, Texas, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced its participation in the EnerCom Denver Conference to be held in Denver, Colorado where Paul McKinney, Chairman and Chief Executive Officer, is scheduled to make a presentation on Monday, August 19th, 2024 at 11:20 am Mountain Time (12:20 pm Central Time). Senior management will also host one-on-one meetings with investors. The presentation will be webcast live and archived on Ring's website, www.ringenergy.com, in the "Investors" section. An updated investor slide deck will be posted the day of the event in the "Investors" section of Ring's website under "Present
THE WOODLANDS, Texas, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today reported operational and financial results for second quarter 2024 and provided an improved outlook for the third quarter and full year. Second Quarter 2024 Highlights Produced sales of 13,623 barrels of oil per day ("Bo/d"), representing a 2% increase over the first quarter of 2024;Sold record total volumes of 19,786 barrels of oil equivalent per day ("Boe/d") (69% oil), which was 4% higher than the first quarter;Reported net income of $22.4 million, or $0.11 per diluted share, and Adjusted Net Income1 of $23.4 million, or $0.12 per diluted share;Recorded Lease Operat
THE WOODLANDS, Texas, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced a management team update, including the addition of a new senior executive. Mr. Phillip Feiner has joined Ring as Vice President, General Counsel. With more than 25 years of energy industry experience, including with both public and private companies, Mr. Feiner is responsible for leading Ring's legal and human resources efforts. Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, "We are pleased to have Phillip join the Company given his substantial background and industry experience. This role is key to the execution of our long-
THE WOODLANDS, Texas, July 30, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced the timing of its second quarter 2024 earnings release and conference call. Ring plans to issue its second quarter 2024 earnings release after the close of trading on Tuesday, August 6, 2024. The Company has scheduled a conference call on Wednesday, August 7, 2024 at 11:00 a.m. central to discuss its second quarter 2024 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the "Ring Energy Second Quarter 2024 Earnings Conference Call". International callers
Investors, Analysts, and Energy Industry Professionals Can Register to Attend at www.enercomdenver.com DENVER, July 29, 2024 /PRNewswire/ -- EnerCom, Inc. is pleased to announce that institutional investors, portfolio managers, financial analysts, CIOs and other investment industry professionals registered for EnerCom Denver – The Energy Investment Conference can now request One-on-One meetings with senior management teams of participating companies (listed below). The energy investment community and industry professionals are encouraged to register now for EnerCom Denver, which will take place August 18–21, 2024, at the Westin Denver Downtown. There is no cost to register for the conference
Investors, Analysts, and Energy Industry Professionals Can Register to Attend at www.enercomdenver.com Emerging Energy Technology and Energy Transition Companies are Invited to Present at EnerCom Denver DENVER, July 17, 2024 /PRNewswire/ -- EnerCom, Inc. is pleased to publish presentation times and schedules for participating companies on the conference website for the 29th Annual EnerCom Denver – The Energy Investment Conference, to be held August 18-21, 2024, at the Westin Denver Downtown. The four-day conference provides investors unparalleled access and networking opportunities, including one-on-one meetings with company management teams. Meetings are limited to qualified investors, incl
THE WOODLANDS, Texas, July 08, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today updated second quarter of 2024 sales guidance and end-of-period debt, and announced reaffirmation of the $600 million borrowing base. Key Highlights Increases second quarter 2024 sales guidance range above its high end of prior guidance for both barrels of oil per day ("Bopd") and barrels of oil equivalent per day ("Boepd"). New Oil Sales Guidance: 13,500 to 13,700 Bopd compared to prior guidance of 13,000 to 13,400 Bopd;New Boepd Sales Guidance: 19,500 to 19,700 Boepd versus guidance of 18,500 to 19,100 Boepd; Reduced debt by $15 million during second quarter 2024; Drivin
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HOUSTON, Dec. 2, 2020 /PRNewswire/ -- American Resources, Inc., and SK Energy LLC, the investment vehicle of Dr. Simon Kukes, one of the largest shareholders of Ring Energy, Inc. (NYSE: REI), announced today that they are very concerned with certain actions of the Board of Directors of Ring Energy. As a result of those concerns, SK Energy and American Resources urge all shareholders to withhold votes on all members of Ring Energy's Board of Directors in the upcoming election. The Ring Energy Board of Directors appears to have made a mistake by offering employment to a CEO whose previous performance in similar roles does not instill confidence in his ability to make Ring Energy successful
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~ Q3 2024 Highlighted by Record Sales, Strategic Divestiture and Meaningful Debt Reduction ~ THE WOODLANDS, Texas, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today reported operational and financial results for third quarter 2024 and provided an outlook for the fourth quarter and updated guidance for the full year. Third Quarter 2024 Highlights Produced record sales of 20,108 barrels of oil equivalent per day ("Boe/d") (66% oil) exceeding the high end of guidance;Oil sales were 13,204 Bo/d which were within guidance;Reported net income of $33.9 million, or $0.17 per diluted share, and Adjusted Net Income1 of $13.4 million, or $0.07 per dilut
THE WOODLANDS, Texas, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced the timing of its third quarter 2024 earnings release and conference call. Ring plans to issue its third quarter 2024 earnings release after the close of trading on Wednesday, November 6, 2024. The Company has scheduled a conference call on Thursday, November 7, 2024 at 11:00 a.m. central to discuss its third quarter 2024 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the "Ring Energy Third Quarter 2024 Earnings Conference Call". International caller
THE WOODLANDS, Texas, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today reported operational and financial results for second quarter 2024 and provided an improved outlook for the third quarter and full year. Second Quarter 2024 Highlights Produced sales of 13,623 barrels of oil per day ("Bo/d"), representing a 2% increase over the first quarter of 2024;Sold record total volumes of 19,786 barrels of oil equivalent per day ("Boe/d") (69% oil), which was 4% higher than the first quarter;Reported net income of $22.4 million, or $0.11 per diluted share, and Adjusted Net Income1 of $23.4 million, or $0.12 per diluted share;Recorded Lease Operat
THE WOODLANDS, Texas, July 30, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced the timing of its second quarter 2024 earnings release and conference call. Ring plans to issue its second quarter 2024 earnings release after the close of trading on Tuesday, August 6, 2024. The Company has scheduled a conference call on Wednesday, August 7, 2024 at 11:00 a.m. central to discuss its second quarter 2024 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the "Ring Energy Second Quarter 2024 Earnings Conference Call". International callers
~ Crude Oil and Boe Sales Volumes Exceed High End of Q1 Guidance ~~ LOE per Boe and Capital Spending Below Low End of Q1 Guidance ~ THE WOODLANDS, Texas, May 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today reported operational and financial results for the first quarter of 2024. Also, the Company provided an outlook for the second quarter of 2024 and reiterated its operational and financial guidance for the full year of 2024. First Quarter 2024 Highlights Sales of 13,394 barrels of oil per day ("Bo/d"), exceeding high end of the Company's guidance by 5%; Total sales volumes of 19,034 barrels of oil equivalent per day ("Boe/d") (70% oil), exceedi
THE WOODLANDS, Texas, April 25, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced the timing of its first quarter 2024 earnings release and conference call. Ring plans to issue its first quarter 2024 earnings release after the close of trading on Monday, May 6, 2024. The Company has scheduled a conference call on Tuesday, May 7, 2024 at 11:00 a.m. ET to discuss its first quarter 2024 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the "Ring Energy First Quarter 2024 Earnings Conference Call". International callers may participate
THE WOODLANDS, Texas, March 07, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today reported record operational and financial results for the fourth quarter and full year 2023, year-end 2023 proved reserves and provided additional 2024 operational and financial guidance. 2023 Q4 and Full Year Highlights and Recent Key Items Grew fourth quarter total sales volumes 11% to a record 19,397 barrels of oil equivalent per day ("Boe/d") from the third quarter; Increased fourth quarter oil sales volumes 13% to a record 13,637 barrels of oil per day ("Bo/d") from the third quarter; Increased year-over-year total sales volumes by 47% to a record 18,119 Boe/d;
THE WOODLANDS, Texas, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced the timing of its fourth quarter 2023 earnings release and conference call. Ring plans to issue its fourth quarter and full year 2023 earnings release after the close of trading on Thursday, March 7, 2024. The Company has scheduled a conference call on Friday, March 8, 2024 at 11:00 a.m. ET to discuss its fourth quarter and full year 2023 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the "Ring Energy Fourth Quarter 2023 Earnings Conference Call".
~ Matches Record for Generating Quarterly Adjusted EBITDA ~ ~ Benefiting from Solid Industry Backdrop, Targeted Capital Spending Program and Recently Completed Acquisition ~ ~ Closed on Sale of Non-Core Operated New Mexico Assets on September 27, 2023 ~ THE WOODLANDS, Texas, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today reported operational and financial results for the third quarter of 2023. In addition, the Company updated its guidance for the fourth quarter of 2023 and announced the successful sale of its non-core operated New Mexico properties that closed on September 27, 2023. Third Quarter 2023 Highlights Closed on the previously
THE WOODLANDS, Texas, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced the timing of its third quarter 2023 earnings release and conference call. Ring plans to issue its third quarter 2023 earnings release after the close of trading on Thursday, November 2, 2023. The Company has scheduled a conference call on Friday, November 3, 2023 at 11:00 a.m. ET to discuss its third quarter 2023 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the "Ring Energy Third Quarter 2023 Earnings Conference Call". International callers may
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 warm weather in June. Last week, natural gas prices rose by 12.8%, and are currently eyeing the seventh week of gains out of last eight. “With a blanket of heat stalling over the southern part of the country, market bulls maintained control,” said Jodi Shafto, senior natural gas reporter at Natural Gas Intel. Chart: US Natural Gas Price Have Rallied 95% Since Late April’s Lows NatGasWeather highlighted that much
For full year 2024, Ring continues to expect total capital spending of $135 million to $175 million. 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 guidance reflecting a 3% increase. Ring expects second quarter 2024 sales volumes of 13,000 to 13,400 Bo/d and 18,500 to 19,100 Boe/d (70% oil, 15% natural gas, and 15% NGLs). The Company is targeting total capital expenditures in the second quarter of 2024 of $37 million to $42 million.
Ring Energy (AMEX:REI) 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 (AMEX:REI) 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.
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Ring Energy (AMEX:REI) 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). Historical Earnings Performance Last quarter the company beat EPS by $0.01, which was followed by a 2.84% drop in the share pri
Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today provided an operational and financial update for the fourth quarter of 2023, as well as production and capital spending guidance for the first quarter of 2024. Key Highlights Fourth quarter 2023 sales volumes were approximately 19,400 barrels of oil equivalent per day ("Boe/d") (70% oil), near the high end of the Company's guidance, which was 18,900 to 19,500 Boe/d; Positively impacting fourth quarter sales was three full months of production from the recently completed acquisition of the Founders Oil & Gas IV, LLC ("Founders" and the "Founders Acquisition") assets that closed on August 15, 2023, as well as the success of the
Ring Energy (AMEX:REI) 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.
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