Notable Price Action: Does Ring Energy Inc Have Any Gas After Today’s Huge Increase?

Notable Price Action: Does Ring Energy Inc Have Any Gas After Today's Huge Increase?

The stock of Ring Energy Inc (NYSEMKT:REI) is a huge mover today! About 139,637 shares traded hands. Ring Energy Inc (NYSEMKT:REI) has risen 59.40% since April 27, 2016 and is uptrending. It has outperformed by 54.17% the S&P500.
The move comes after 7 months positive chart setup for the $523.49 million company. It was reported on Nov, 30 by Barchart.com. We have $13.85 PT which if reached, will make NYSEMKT:REI worth $36.64M more.

Analysts await Ring Energy Inc (NYSEMKT:REI) to report earnings on March, 21. They expect $0.01 EPS, up 120.00% or $0.06 from last year’s $-0.05 per share. REI’s profit will be $404,552 for 323.50 P/E if the $0.01 EPS becomes a reality. After $0.01 actual EPS reported by Ring Energy Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Ring Energy Inc (NYSEMKT:REI) Ratings Coverage

Out of 7 analysts covering Ring Energy Inc (NYSEMKT:REI), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. Ring Energy Inc has been the topic of 9 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Rodman & Renshaw initiated it with “Buy” rating and $15 target price in Monday, August 29 report. The firm has “Mkt Perform” rating by FBR Capital given on Wednesday, January 6. Wunderlich maintained the shares of REI in a report on Wednesday, November 11 with “Buy” rating. The rating was initiated by Canaccord Genuity with “Buy” on Tuesday, October 20. On Tuesday, July 28 the stock rating was maintained by Northland Capital with “Outperform”. Wunderlich maintained Ring Energy Inc (NYSEMKT:REI) rating on Thursday, May 12. Wunderlich has “Buy” rating and $9 price target.

According to Zacks Investment Research, “Ring Energy, Inc. is engaged in the exploration and development of oil and gas. The company operates primarily in Texas and Kansas. Ring Energy, Inc. is based in TULSA, United States.”

More news for Ring Energy Inc (NYSEMKT:REI) were recently published by: Businesswire.com, which released: “Ring Energy, Inc. Releases Third Quarter 2016 Operations Update” on November 01, 2016. Businesswire.com‘s article titled: “Ring Energy, Inc. Schedules Conference Call on Its 2016 Third Quarter and Nine …” and published on November 01, 2016 is yet another important article.

REI Company Profile

Ring Energy, Inc. (Ring), incorporated on July 30, 2004, is an exploration and production firm that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company’s exploration and production interests are focused on Texas and Kansas. The Company’s activities are all gas and oil exploration and production related activities in the United States. The Company’s primary drilling activities target the Central Basin Platform in Andrews County and Gaines County, Texas, and the Delaware Basin in Reeves County and Culberson County, Texas. Ring has approximately 30,660 gross (18,130 net) acres in Andrews and Gaines counties and over 19,980 gross (19,680 net) acres in Reeves and Culberson counties. The Firm also has approximately 17,630 gross (16,670 net) acres in Kansas. Ring’s proved reserves are approximately 24.4 million barrels of oil equivalent (BOE). The Company’s proved reserves are oil-weighted with over 90% of proved reserves consisting of oil and over 9% consisting of natural gas. Of those reserves, approximately 30% of the proved reserves are classified as proved developed producing (PDP), approximately 2% are classified as proved developed non-producing (PDNP), and approximately 70% are classified as proved undeveloped (PUD).

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