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 May 24, 2024, REI stock price climbed to $1.80 with 665,278 million shares trading.

REI has a beta of 0.21, meaning it tends to be less sensitive to market movements. REI has a correlation of 0.00 to the broad based SPY ETF.

REI has a market cap of $356.28 million. This is considered a Small Cap stock.

Last quarter Ring Energy reported $95 million in Revenue and $.10 earnings per share. This beat revenue expectation by $3 million and met earnings estimates .

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 stock has underperformed the market in the last year with a return of -7.2%, while SPY returned +30.4%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in REI shares. However, REI has outperformed the market in the last 3 month and 2 week periods, returning +30.4% and +2.9%, while SPY returned +4.6% and +1.7%, respectively. This indicates REI has been having a stronger performance recently.

REI support price is $1.73 and resistance is $1.83 (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.