Price Action Alert: Will Ring Energy Inc Go Down Anytime Soon?

Price Action Alert: Will Ring Energy Inc Go Down Anytime Soon?

The stock of Ring Energy Inc (NYSEMKT:REI) is a huge mover today! About 227,308 shares traded hands or 46.17% up from the average. Ring Energy Inc (NYSEMKT:REI) has risen 105.71% since April 8, 2016 and is uptrending. It has outperformed by 100.07% the S&P500.
The move comes after 6 months positive chart setup for the $572.43 million company. It was reported on Nov, 10 by Barchart.com. We have $18.07 PT which if reached, will make NYSEMKT:REI worth $297.66M more.

Analysts await Ring Energy Inc (NYSEMKT:REI) to report earnings on November, 14.

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. The firm earned “Buy” rating on Thursday, May 12 by Wunderlich. The company was initiated on Tuesday, October 20 by Canaccord Genuity. The stock has “Buy” rating given by Wunderlich on Wednesday, November 11. The firm earned “Buy” rating on Monday, August 29 by Rodman & Renshaw. The company was downgraded on Wednesday, January 6 by FBR Capital. On Tuesday, July 28 the stock rating was maintained by Northland Capital with “Outperform”.

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 notable recent Ring Energy Inc (NYSEMKT:REI) news were published by: Businesswire.com which released: “Ring Energy, Inc. Schedules Conference Call on Its 2016 Third Quarter and Nine …” on November 02, 2016, also Businesswire.com with their article: “Ring Energy, Inc. Releases Third Quarter 2016 Operations Update” published on November 01, 2016, Seekingalpha.com published: “Ring Energy’s (REI) CEO Kelly Hoffman on Q3 2016 Results – Earnings Call …” on November 09, 2016. More interesting news about Ring Energy Inc (NYSEMKT:REI) were released by: Businesswire.com and their article: “Ring Energy, Inc. Announces Completion of Delaware Basin Acquisition” published on June 30, 2015 as well as Businesswire.com‘s news article titled: “Ring Energy, Inc. Signs Purchase and Sale Agreement on Delaware Basin Acreage” with publication date: May 26, 2015.

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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