Ring Energy found using ticker (REI) now have 3 analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The range between the high target price and low target price is between 1.5 and 1 with the average target price sitting at 1.27. Given that the stocks previous close was at 0.71 this would indicate that there is a potential upside of 78.9%. There is a 50 day moving average of 0.71 while the 200 day moving average is 0.94. The market cap for the company is $48m. Visit the company website at: http://www.ringenergy.com
Ring Energy, an exploration and production company, acquires, explores for, develops, and produces oil and natural gas in Texas and New Mexico. As of December 31, 2019, the company’s proved reserves consisted of approximately 81.1 million barrel of oil equivalent. It also had interests in 18,372 net developed acres and 47,427 net undeveloped acres in Andrews and Gaines counties, Texas; 19,138 net developed acres and 860 net undeveloped acres in Culberson and Reeves counties, Texas; and 8,085 net developed acres and 28,514 net undeveloped acres in Gaines, Yoakum, Runnels, and Coke Counties, Texas and Lea County, New Mexico. It primarily sells its oil and natural gas production to end users, marketers, and other purchasers. The company was formerly known as Transglobal Mining Corp. and changed its name to Ring Energy in March 2008. Ring Energy was founded in 2004 and is headquartered in Midland, Texas.
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