Financial Performance - Ring Energy reported quarterly earnings of $0.12 per share, matching the Zacks Consensus Estimate, but down from $0.14 per share a year ago [1] - The company posted revenues of $99.14 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.87% and up from $79.35 million year-over-year [2] - Over the last four quarters, Ring Energy has not surpassed consensus EPS estimates, and it delivered a surprise of -28.57% in the previous quarter [1][6] Market Performance - Ring Energy shares have increased approximately 13% since the beginning of the year, outperforming the S&P 500's gain of 8.7% [3] - The current consensus EPS estimate for the upcoming quarter is $0.12 on revenues of $96.58 million, and for the current fiscal year, it is $0.47 on revenues of $382.19 million [7] Industry Outlook - The Zacks Industry Rank for Oil and Gas - Exploration and Production - United States is currently in the bottom 32% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8] - The estimate revisions trend for Ring Energy is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6]

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. 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 ...

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. 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 ...

Core Insights - Ring Energy, Inc. has announced a management team update with the appointment of Phillip Feiner as Vice President, General Counsel, bringing over 25 years of energy industry experience [1][2] - The addition of Mr. Feiner is seen as crucial for executing the company's long-term strategy, focusing on maximizing cash flow, improving the balance sheet, and enhancing shareholder value [2] Company Overview - Ring Energy, Inc. is engaged in oil and gas exploration, development, and production, with a current focus on developing its assets in the Permian Basin [3]

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 may participate b ...

Core Viewpoint - Ring Energy, Inc. is set to release its second quarter 2024 earnings on August 6, 2024, followed by a conference call on August 7, 2024, to discuss operational and financial results [1][2]. Group 1 - The earnings release will occur after the close of trading on August 6, 2024 [1]. - A conference call is scheduled for August 7, 2024, at 11:00 a.m. central time [1]. - Interested parties can participate by dialing 833-953-2433 or 412-317-5762 for international callers [1]. Group 2 - Ring Energy, Inc. focuses on oil and gas exploration, development, and production, particularly in the Permian Basin [2]. - Additional information about the company can be found on its website [2].

Core Viewpoint - Value investing remains a favored strategy, focusing on identifying companies undervalued by the market [1] Company Summary: Ring Energy (REI) - Ring Energy (REI) has a Zacks Rank of 2 (Buy) and an A for Value, indicating strong potential [2] - The current P/E ratio for REI is 3.60, significantly lower than the industry average of 10.22 [2] - Over the past 12 months, REI's Forward P/E has fluctuated between 1.61 and 3.85, with a median of 2.39 [2] Financial Metrics - REI has a P/CF ratio of 2.20, which is favorable compared to the industry's average P/CF of 7.84 [3] - The P/CF for REI has ranged from 1.25 to 2.43 in the last year, with a median of 1.89 [3] - The P/S ratio for REI stands at 1.04, compared to the industry average of 2.06, indicating further undervaluation [6] Investment Insights - The combination of REI's strong earnings outlook and favorable valuation metrics suggests it is currently undervalued [7] - Zacks' Style Scores system highlights stocks with "A" grades in the Value category, indicating REI is among the strongest value stocks available [5]

Core Viewpoint - The Founders acquisition by Ring Energy is expected to yield significant benefits, including increased production and improved financial health, particularly as oil prices rise above $80 WTI, aiding in debt repayment and overall profitability [5][10][20]. Production and Financial Performance - The acquisition has led to higher-than-expected production levels, both total and oil, with management confirming a $15 million debt repayment, marking one of the highest quarterly payments without asset or stock sales [10][11]. - The company has repaid $48 million of the $75 million initially proposed for the acquisition, indicating a strong trajectory towards debt reduction [11]. - Free cash flow has increased despite the acquisition being entirely debt-financed, suggesting that the deal is financially beneficial [12]. Strategic Direction - The acquisition aligns with the company's strategy to focus on oil-weighted production, enhancing the overall production mix and profitability [15][16]. - Management aims to drill more profitable wells, leveraging the acquired acreage to increase free cash flow without necessarily needing to grow production [14]. Market Conditions and Outlook - The current environment, with rising oil prices, is favorable for debt repayment and could lead to significant improvements in the company's financial situation [20]. - The company is expected to benefit from modern completion techniques, which may lead to unexpected growth and further enhance financial performance [17]. Management Changes - Key management changes, including the retirement of the Executive Vice President of Land, Legal, Human Resources, and Marketing, may impact the company's acquisition strategy, necessitating experienced replacements [6][18].

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 guid ...

THE WOODLANDS, Texas, June 24, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced management team changes, including the pending departure of two senior executives. Mr. Stephen D. Brooks, Ring's Executive Vice President of Land, Legal, Human Resources and Marketing, has elected to retire from his position effective July 1, 2024. The Company has an active search underway seeking to attract a new executive team member to lead the Company's legal and human resources ...