In a report released yesterday, Neal Dingmann from SunTrust Robinson reiterated a Buy rating on Ring Energy (NYSE: REI), with a price target of $19. The company’s shares closed yesterday at $11.89, close to its 52-week low of $11.11.
According to TipRanks.com, Dingmann is a 4-star analyst with an average return of 4.1% and a 51.7% success rate. Dingmann covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Sanchez Energy Corporation.
Ring Energy has an analyst consensus of Strong Buy, with a price target consensus of $18.33.
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Ring Energy’s market cap is currently $718M and has a P/E ratio of 75.83. The company has a Price to Book ratio of 1.59.
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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.
