Northland Securities analyst Jeff Grampp maintained a Buy rating on Ring Energy (REI) on March 17 and set a price target of $9. The company’s shares closed yesterday at $5.99, close to its 52-week low of $4.01.
According to TipRanks.com, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.1% and a 35.3% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and Goodrich Petroleum Corp.
Ring Energy has an analyst consensus of Strong Buy, with a price target consensus of $9.67.
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Ring Energy’s market cap is currently $378.7M and has a P/E ratio of 39.02. The company has a Price to Book ratio of 0.82.
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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. The firm’s areas of operation situated in the Permian Basin; the Central Basin Platform and the Delaware Basin.
