The Rating of Ring Energy (REI) Shares By Seaport Global Securities Falls. $12.0 is now The Target

October 2, 2018 - By Clifton Ray

Ring Energy, Inc. (NYSEAMERICAN:REI) Logo

Ring Energy (REI) Receives a Downgrade

In an analyst note shared with investors and clients on Tuesday morning, Seaport Global Securitiesdecided to downgrade shares of Ring Energy (REI) from their “Buy” rating to a “Neutral”. The brokerage firm currently has a $12.0 target price on the stock.

The stock decreased 7.51% or $0.8 during the last trading session, reaching $9.85. About 114,295 shares traded. Ring Energy, Inc. (REI) has declined 6.19% since October 2, 2017 and is downtrending. It has underperformed by 21.81% the S&P500.

Analysts await Ring Energy, Inc. (NYSEAMERICAN:REI) to report earnings on November, 14. They expect $0.15 EPS, up 150.00 % or $0.09 from last year’s $0.06 per share. REI’s profit will be $9.06 million for 16.42 P/E if the $0.15 EPS becomes a reality. After $0.09 actual EPS reported by Ring Energy, Inc. for the previous quarter, Wall Street now forecasts 66.67 % EPS growth.

Ring Energy, Inc. acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. The company has market cap of $594.82 million. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. It has a 64.8 P/E ratio. The firm also owns interests in 32,663 net developed and undeveloped acres in Andrews and Gaines counties, and 20,490 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 14,549 net developed and undeveloped acres in Kansas.

Ring Energy, Inc. (NYSEAMERICAN:REI) Institutional Positions Chart

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