Northland Securities’ Analyst Provides Guidance for This Canadian Energy Stock


Northland Securities analyst Jeff Grampp maintained a Hold rating on Ring Energy (REI) today. The company’s shares closed last Tuesday at $0.57, close to its 52-week low of $0.43.

According to TipRanks.com, Grampp ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -32.2% and a 20.3% success rate. Grampp covers the Utilities sector, focusing on stocks such as Northern Oil And Gas, Evolution Petroleum, and SilverBow Resources.

The word on The Street in general, suggests a Hold analyst consensus rating for Ring Energy.

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Based on Ring Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $10.64 million and GAAP net loss of $135 million. In comparison, last year the company earned revenue of $51.33 million and had a net profit of $11.34 million.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of REI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The company was founded by Lloyd T. Rochford and Stanley M. McCabe on July 30, 2004 and is headquartered in Midland, TX.

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