energy ring with ticker code (REI) now have 3 analysts covering the stock. Analyst consensus points to a buy rating. The target price ranges between 4.9 and 3, with the average target price standing at 4.22. Given that the stock’s previous close was at 2.91, this now indicates that there is 45.0% upside potential. The 50 day moving average now sits at 2.59 and the 200 moving average now moves to 2.76. The market cap of the company is $285 million. More information at: https://www.ringenergy.com
The potential market capitalization would be $413 million based on market consensus.
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Ring Energy, an exploration and production company, is engaged in the acquisition, exploration, development and production of oil and natural gas in Texas and New Mexico. As of December 31, 2020, the company’s proven reserves consisted of approximately 76.5 million barrels of oil equivalent. It also held interests in 18,712 net developed acres and 6,650 net undeveloped acres in Andrews and Gaines counties, Texas; 18,256 net developed acres and 212 net undeveloped acres in Culberson and Reeves counties, Texas; and 8,085 net developed acres and 24,830 net undeveloped acres in Yoakum, Runnels and Coke counties, Texas and Lea County, New Mexico. Ring Energy primarily sells its oil and natural gas production to end users, traders and other buyers. The company was previously known as Transglobal Mining Corp. and changed its name to Ring Energy in March 2008. Ring Energy was incorporated in 2004 and is headquartered in Midland, Texas.
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