Ring Energy – Consensus indicates potential rise of 14.4%
Energy ring found using ticker (REI) now have 2 analysts covering the stock with the consensus suggesting a rating of “Hold”. The target price is between 4.6 and 4 with an average TP of 4.3. Given that the previous close for shares was at 3.76, this now indicates that there is a potential upside of 14.4%. The 50-day moving average is now at 2.67 and the 200-day moving average is at 2.52. The company’s market capitalization is $ 388 million. Company website: http://www.ringenergy.com
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 were 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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