Ring Energy, Inc. (AMEX:REI) producer of oil and natural gas, is reporting third quarter earnings results on Monday 9th November 2020, after market close.
The consensus estimates from Thomson Reuters are $ 26.75 million in revenue.
For the full year, analysts predict revenues of $ 105.93 million, while looking forward to income of $ 0.23 per share.
Previous Quarter Performance
Ring Energy, Inc. came out with income for the second quarter of $ 0.02 per share, from the revenue of $ 10.64 million. The quarterly earnings contracted 87.50 percent while revenues shrunk 78.97 percent compared with the same quarter last year. According to street consensus, revenue of $ 14.98 million was expected for the second quarter The top line results fell short of analysts by $ 4.34 million or 28.97 percent.
Stock Performance
On Friday, shares of Ring Energy, Inc. has traded high as $ 0.51 and has cracked $ 0.48 on the downward trend, reaching $ 0.49 with volume of 907.00 thousand shares.
According to the previous trading day, closing price of $ 0.49, representing a 13.95 % increase from the 52 week low of $ 0.43 and a 85.2 % decrease over the 52 week high of $ 3.31.
The company has a market capital of $ 39.29 million and is part of the Energy sector and Oil & Gas E&P industry.
Ring Energy, Inc., an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas, the United States. As of December 31, 2018, the companys proved reserves consisted of approximately 36.6 million barrel of oil equivalent. As of the above date, it also had interests in 17,408 net developed acres and 58,620 net undeveloped acres in Andrews and Gaines counties; and 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties.
