Ring Energy with ticker code (REI) now have 3 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 4.9 and 3 and has a mean target at 4.22. Now with the previous closing price of 3.34 this would indicate that there is a potential upside of 26.3%. The 50 day MA is 2.74 while the 200 day moving average is 2.79. The company has a market cap of $363m. Visit the company website at: https://www.ringenergy.com
The potential market cap would be $458m based on the market concensus.
Ring Energy, an exploration and production company, engages 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 proved reserves consisted of approximately 76.5 million barrel of oil equivalent. It also had 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, 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 incorporated in 2004 and is headquartered in Midland, Texas.
