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Friday Sector Leaders: Non-Precious Metals & Non-Metallic Mining, Oil & Gas Exploration & Production Stocksat Nasdaq.com (Nov 21, 2014)
- With no debt, $1.13 per share in net cash, and low production costs, Ring Energy is in better position than many other shale drillers.
- At current crude prices, Ring Energy is a good bet for aggressive investors.
- For everyone else, it is better to see whether the company can reduce costs further.
Ring Energy: Digging For Black Gold In All The Right Places
- The oil and gas boom in the US continues to gain momentum and there could potentially be many winners in the space.
- The industry is highly fragmented and despite several mega cap companies, there are a high number of small independent drillers.
- Combining the right macro environment with a capable management team within a small company can result in huge profits.
Ring Energy Is At A Turning Point For Profitability
- Ring Energy is expected to turn a profit this year and is expected to remain profitable going forward.
- Increased production should catalyze growth and the stock price.
- The company is undervalued as compared to the industry.
There are no Transcripts on REI.
Wed, Dec. 17, 5:40 PM
Mon, Dec. 8, 7:20 PM
- With valuations at a decade low, oil execs such as Chesapeake Energy’s (NYSE:CHK) Archie Dunham and Ring Energy's (NYSEMKT:REI) Tim Rochford are driving the sector's biggest wave of insider buying since 2012, according to Bloomberg data.
- Rochford and two other board members bought a total of more than 30K REI shares over the past month; the CEO says the company can stay profitable even should oil slip to $50/bbl.
- “Most of these execs that are buying have been in the industry as long as I have, so they know how supply and demand works and they’re buying quality stocks,” says Dunham, who recently bought 500K CHK shares in his biggest purchase since joining the company’s board in 2012.
- Loews Corp. (NYSE:L), which owns about half of Diamond Offshore (NYSE:DO), bought 1.18M DO shares in November and bought another ~410K shares last week.
- Halcon Resources (NYSE:HK) and Goodrich Petroleum (NYSE:GDP) are among companies operating in the costliest U.S. shale-producing regions, but execs from those companies are buyers as well.
Tue, Dec. 2, 5:37 PM
Tue, Dec. 2, 2:58 PM
- Ring Energy (REI +14.9%) rallies after saying it continues to operate profitably despite the recent plunge in crude oil prices, with "a strong balance sheet, unused credit facility, and [the company] can continue to operate profitably at $60 oil."
- Management said they felt it was necessary to reaffirm its 2014 development program and $125M capital budget, adding that REI drilled 92 development wells in Texas through the first nine months of the year and is on pace to complete 135 wells by year-end.
- Shares also pick up a Buy recommendation and a $23 price target in new coverage at Roth Capital, which cites REI's strong historical growth of production and EPS and expectations for continued growth of each in 2015 (Briefing.com).
Tue, Dec. 2, 12:47 PM
Mon, Dec. 1, 12:21 PM
- Oil prices are rebounding, with both WTI and Brent crude up ~2%, but only a handful of energy stocks are rising.
- Exxon Mobil (XOM +1.4%) and Chevron (CVX +1.3%) are both up more than 1%, but the vast majority of energy stocks - led by Denbury Resources (DNR -8.9%), Newfield Exploration (NFX -7.6%) and Goodrich Petroleum (GDP -22.3%) - are seeing heavy selling.
- The SPDR Energy Select Sector ETF (XLE -1.2%) is lower despite gains in XOM and CVX, XLE’s two most heavily weighted stocks, as 38 of its 43 equity components trade lower; the ETF has now lost 7.5% since OPEC sent oil prices plunging by agreeing last Thursday not to cut production.
- Among XLE’s most actively traded components, Kinder Morgan (KMI -3.3%), Halliburton (HAL -3.4%), Transocean (RIG -6.1%) and Schlumberger (SLB -2.1%) are sharply lower.
- Other big decliners include BBEP -17.8%, SD -12.1%, SN -13%, CWEI -8.8%, CPE -14.6%, EXXI -18.9%, LRE -22.8%, REI -16.9%, SSE -15.3%.
- Other ETFs: ERX, VDE, OIH, XOP, ERY, DIG, DUG, IYE, XES, IEO, IEZ, PXE, FENY, PXJ, RYE, FXN, DDG
Mon, Nov. 24, 12:46 PM
Mon, Nov. 24, 10:59 AM
- Ring Energy (REI -5.1%) is downgraded to Hold from Buy with a $12 price target, lowered from $20, at Canaccord Genuity on equity dilution concerns.
- The recent decline in oil prices could accelerate REI's need for new capital, and the company's small relative size likely would preclude it from accessing the high yield market for several years, thus the firm believes dilution could limit near-term gains.
Tue, Oct. 7, 10:58 AM
- In an operations update, Ring Energy (REI +0.8%) says Q3 production rose 19% Q/Q and it has added a third drilling rig in the Permian Basin.
- REI says Q3 net production totaled ~140K boe, a 259% increase over the 39K boe in the same quarter a year ago and 19% better than output of 118K boe in Q2 2014.
- Says it drilled 32 new wells on its Permian Basin properties, making a total of 132 new wells drilled since June 2013; 19 of the 32 wells were completed and placed in production, with the remaining 13 in various stages of completion.
- As a result of accelerated drilling time and the addition of the third rig in Texas, REI says it has raised its 2014 capex budget to $125M from $115M, to be funded by current cash flow and existing cash balances.
Fri, Aug. 8, 9:45 AM
Fri, Aug. 1, 5:40 PM
Tue, Jul. 15, 10:01 AM
- In an operations update, Ring Energy (REI +1.7%) says Q2 net production totaled ~118K boe, up 521% Y/Y, and Q1 net production was 69,650 boe, a 69% Y/Y increase.
- Says it drilled 36 development wells and one salt water disposal well on its Texas properties during Q2, 27 of which were completed and placed in production; on June 30, REI drilled its 100th new development well since commencing drilling operations in June 2013.
Tue, Jun. 17, 12:50 PM
Thu, May. 8, 6:22 PM
Dec. 31, 2013, 8:57 AM| Comment!
Dec. 6, 2013, 9:14 AM
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