BidaskClub Lowers Ring Energy (REI) to Sell

Ring Energy (NASDAQ:REI) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, April 16th, BidAskClub reports.

Separately, Capital One Financial lowered Ring Energy from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th.

NASDAQ:REI traded up $0.23 during trading hours on Tuesday, hitting $4.71. The company had a trading volume of 1,077,873 shares, compared to its average volume of 562,459. Ring Energy has a 1 year low of $4.01 and a 1 year high of $17.00.

Ring Energy (NASDAQ:REI) last issued its earnings results on Tuesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $27.56 million during the quarter, compared to analysts’ expectations of $28.70 million.

Ring Energy Company Profile

Ring Energy, Inc acquires, explores for, develops, and produces oil and natural gas in Texas and Kansas, the United States. As of December 31, 2016, its proved reserves consisted of approximately 27.7 million barrel of oil equivalent. The company 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.

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