Ring Energy – Consensus indicates 60.5% upside potential
energy ring found using the ticker (REI) now have 3 total analysts covering the stock. The consensus rating is “Buy”. The range between the target price high and the target price low is between 4.9 and 3 and has an average objective at 4.22. Now, with the previous closing price of 2.63, this now indicates that there is 60.5% upside potential. The 50-day moving average is 2.6 and the 200-day moving average is 2.7. The market cap of the company is $253 million. Visit the company’s website at: https://www.ringenergy.com
The potential market capitalization would be $406 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.