REI Stock Summary and Trading Ideas (Ring Energy | AMEX:REI)

Ring Energy Inc is an independent exploration and production company based in The Woodlands, Texas and is engaged in oil and natural gas development, production, acquisition, and exploration activities currently focused in the Permian Basin of Texas. The drilling operations of the company target the oil and liquid rich producing formations in the Northwest Shelf, the Central Basin Platform, and the Delaware Basin all of which are part of the Permian Basin in Texas.

Ring Energy trades on the AMEX stock market under the symbol REI.

As of April 25, 2024, REI stock price climbed to $1.99 with 1,079,576 million shares trading.

REI has a beta of 0.32, meaning it tends to be less sensitive to market movements. REI has a correlation of 0.01 to the broad based SPY ETF.

REI has a market cap of $393.89 million. This is considered a Small Cap stock.

Last quarter Ring Energy reported $100 million in Revenue and $.11 earnings per share. This beat revenue expectation by $3 million and missed earnings estimates by -$.01.

In the last 3 years, REI stock traded as high as $5.09 and as low as $1.25.

The top ETF exchange traded funds that REI belongs to (by Net Assets): VTI, IWM, AVUV, IWN, VXF.

REI has underperformed the market in the last year with a price return of +8.7% while the SPY ETF gained +23.6%. However, in the short term, REI had mixed performance relative to the market. It has outperformed in the last 3 months, returning +46.3% vs +4.1% return in SPY. But in the last 2 weeks, REI shares have been beat by the market, returning -4.3% compared to an SPY return of -2.1%.

REI support price is $1.90 and resistance is $2.02 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that REI stock will trade within this expected range on the day.