B.Riley FBR analyst Rehan Rashid reiterated a Buy rating on Ring Energy (REI) on November 20 and set a price target of $9. The company’s shares opened today at $7.34, close to its 52-week low of $6.75.
According to TipRanks.com, Rashid is a 3-star analyst with an average return of 2.2% and a 47.7% success rate. Rashid covers the Basic Materials sector, focusing on stocks such as Continental Resources, Lonestar Resources US, and Range Resources Corp.
Currently, the analyst consensus on Ring Energy is a Strong Buy with an average price target of $12.75.
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Ring Energy’s market cap is currently $444M and has a P/E ratio of 38.86. The company has a Price to Book ratio of 0.97.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock.
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Ring Energy, Inc. is an oil and gas exploration company which engages in oil and natural gas acquisition, exploration, development and production activities in the Permian and Mid-Continent regions of the United States. The company was founded by Lloyd T. Rochford and Stanley M. McCabe on July 30, 2004 and is headquartered in Midland, TX.
