MIDLAND, Texas (AP) _ Ring Energy Inc. (REI) on Monday reported first-quarter net income of $43.8 million.

On a per-share basis, the Midland, Texas-based company said it had net income of 64 cents. Earnings, adjusted for non-recurring gains, were 11 cents per share.

The independent oil and gas company posted revenue of $39.6 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $41.3 million.

The company's shares closed at 78 cents. A year ago, they were trading at $4.48.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on REI at https://www.zacks.com/ap/REI

Automated Insights, source Associated Press News