Profile
Sector:
EnergyIndustry:
Oil & Gas Equipment & ServicesCountry:
United StatesIPO:
10 April 2007Website:
http://www.ringenergy.comNext earnings report:
01 November 2024Last dividends:
N/ANext dividends:
N/APrice
after hours | Wed, 28 Aug 2024 20:05:27 GMTDividend
Analysts recommendations
Institutional Ownership
REI Latest News
THE WOODLANDS, Texas, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: 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).
We had rated RioCan REIT stock as a hold last November. The stock is down marginally since then. We review the Q2-2024 results and tell you why we like this enough to give this a Buy.
Ring Energy, Inc. (NYSE:REI ) Q2 2024 Earnings Conference Call August 7, 2024 12:00 PM ET Company Participants Al Petrie - Investor Relations Officer Paul Mckinney - Chairman & CEO Travis Thomas - CFO, EVP, Treasurer & Company Secretary Alexander Dyes - EVP, Engineering and Corporate Strategy Shawn Young - VP, Operations Conference Call Participants Neal Dingmann - Truist Securities John White - ROTH Capital Jeffrey Grampp - Alliance Global Partners Jeffrey Robertson - Water Tower Research Operator Good morning, and welcome to the Ring Energy second-quarter 2024 earnings conference call. [Operator Instructions].
Ring Energy (REI) came out with quarterly earnings of $0.12 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.14 per share a year ago.
THE WOODLANDS, Texas, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: 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.
THE WOODLANDS, Texas, July 30, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced the timing of its second quarter 2024 earnings release and conference call.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Ring Energy, Inc.'s acquisition of Founders resulted in higher-than-expected production and lower costs. Despite being all debt, the Founders acquisition may be financially beneficial for the company, with the debt expected to be repaid within a year and a half. The acquisition has increased free cash flow and improved profitability. This led to a $15 million debt repayment in the second quarter.
Ring Energy, Inc. reported Q1 2024 sales volumes above expectations. It did not change its full-year guidance, but I am assuming it will do better than the guidance midpoint. Despite this, Ring's 2024 free cash flow is now projected at $55 million, $12 million less than when I last looked at it.
Ring Energy, Inc. management is working towards achieving an appropriate debt ratio which would revalue the stock considerably higher. The company has reported significant financial and operating improvements from recent acquisitions, which are helping to meet market and debt requirements. Despite natural gas price drops, Ring Energy has managed to maintain a stable debt ratio, indicating potential progress if commodity prices remain steady.
What type of business is Ring Energy?
Ring Energy, Inc., an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties. The company has interests in 56,711 net developed acres and 2,668 net undeveloped acres in Andrews, Gaines, Crane, Ector, Winkler, and Ward counties, Texas; and 8,751 net developed acres and 12,405 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico. It 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 The Woodlands, Texas.
What sector is Ring Energy in?
Ring Energy is in the Energy sector
What industry is Ring Energy in?
Ring Energy is in the Oil & Gas Equipment & Services industry
What country is Ring Energy from?
Ring Energy is headquartered in United States
When did Ring Energy go public?
Ring Energy initial public offering (IPO) was on 10 April 2007
What is Ring Energy website?
https://www.ringenergy.com
Is Ring Energy in the S&P 500?
No, Ring Energy is not included in the S&P 500 index
Is Ring Energy in the NASDAQ 100?
No, Ring Energy is not included in the NASDAQ 100 index
Is Ring Energy in the Dow Jones?
No, Ring Energy is not included in the Dow Jones index
When was Ring Energy the previous earnings report?
No data
When does Ring Energy earnings report?
The next expected earnings date for Ring Energy is 01 November 2024