Expanded capital program — Co invested $43.2 million in capital expenditures, including longer horizontal wells and infrastructure projects.
Key details and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted Net Income
Beat
$24 million
$16.08 million (3 Analysts)
Q2 Net Income
$64.8 million
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the oil & gas exploration and production peer group is "buy."
Wall Street's median 12-month price target for Ring Energy Inc is $2.25, about 78.6% above its August 4 closing price of $1.26.
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 9 three months ago.
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