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Oil Gas Drilling Exploration

Ring energy was founded in 2013 and is headquartered in Hobbs, New Mexico. It engages in the exploration, development, and production of oil and natural gas in the united states. The company's primary focus is on acquiring and developing assets in proven oil and gas basins, with a focus on the Permian Basin in New Mexico and Texas. Ring Energy has grown its production and reserves through a combination of organic development and strategic acquisitions. The company reported that their net production for the fourth quarter of 2022 was 48,381 BOE (barrels of oil equivalent), also their 2P (proven and probable) reserve estimate at year-end 2022 was 85.3 MMBOE.

As of Saturday, March 18, 2z23, the closing price of Ring Energy Inc's stock (REI) was $3.32, a 10.19% increase from its previous closing price. On Friday, the stock reached a high of $3.54 and a low of $3.14.

Ring Energy's current dividend yield is 0.69%, and its dividend payout is $0.016. The company's dividend payout ratio is 12.86% and its forward dividend yield is 0.69%. The stock has a 52-week low of $2.01 and a 52-week high of $4.60. It has a P/E ratio of 3.67 and a beta coefficient of 2.47.

Ring Energy's earnings, revenue, and cash flows have been trending upwards in recent years. In its last quarterly earnings report, the company reported a net income of $9.67 million, up from a net loss of $0.76 million in the same period last year. The company's revenue increased by 101.1% year over year to $17.67 million, driven mainly by higher oil and natural gas sales. Ring Energy also reported negative earnings surprise of 600%, Missing revenues estimates by 17.95%. Its earnings per share (EPS) was-$0.05, missing the consensus estimate of $0.06 per share. The company's stock price has experienced a -24.48% loss over the past six months, with a 52-week low of $2.01 and a 52-week high of $4.60. Institutional ownership of Ring Energy is 62.6%, and 65.4% of its shares are owned by institutional investors.

Ring Energy has hired a new COO to focus on exploration and exploitation activities. The company has received several ratings from analysts. DA Davidson initiated coverage on Ring Energy with a "buy" rating and set a $11.00 price target. TheStreet raised Ring Energy's stock rating from "d+" to "c" and added the company to its "rebounding" list. Finally, Capital One Financial initiated coverate on Ring Energy with an "equal weight" rating and set a $4.00 price target.

In summary, Ring Energy is a publicly-traded company (REI symbol) that engages in the exploration, development and production of oil and gas in the united states, particularly in the Permian Basin. It has seen growth in earnings, revenue, and cash flows in recent years. However, its recent negative earnings surprise and missing revenue estimates have caused a -24.48% loss in its stock price over the past six months. Ring Energy's stock has a 52-week low of $2.01 and a 52-week high of $4.60, and its forward dividend yield is 0.69%. Institutional ownership of the company is 62.6%.