Ring Energy, Inc. (AMEX:REI) is reporting second quarter financial results on Monday 10th August 2020, after market close.
According to analysts surveyed by Thomson Reuters, REI is expected to report 2Q20 revenue of $ 14.98 million.
For the full year, analysts anticipate top line of $ 108.99 million, while looking forward to income of $ 0.15 per share bottom line.
Previous Quarter Performance
Ring Energy, Inc. recorded income for the first quarter of $ 0.11 per share, from the revenue of $ 39.57 million. The quarterly earnings declined 42.11 percent while revenues reduced 5.33 percent compared with the same quarter last year.
Street analysts expected Ring Energy, Inc. to report income of $ 0.07 per share on revenue of $ 41.86 million for the first quarter. The bottom line results beat street analysts by $ 0.04 or 57.14 percent, at the same time, top line results fell short of analysts by $ 2.29 million or 5.47 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of REI was $ 1.14, representing a 119.23 % increase from the 52 week low of $ 0.52 and a 65.56 % decrease over the 52 week high of $ 3.31.
The company has a market capital of $ 77.49 million and is part of the Energy sector and Oil & Gas E&P industry.
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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.
