BidaskClub Downgrades Ring Energy (REI) to Strong Sell

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

Ring Energy stock traded down $0.04 during mid-day trading on Tuesday, hitting $5.01. 6,493 shares of the stock were exchanged, compared to its average volume of 544,692. Ring Energy has a 12 month low of $4.01 and a 12 month high of $17.35.

Ring Energy (NASDAQ:REI) last released its quarterly earnings results on Tuesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $27.56 million for the quarter, compared to the consensus estimate of $28.70 million.

About Ring Energy

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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